v3.24.2

DEBT (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Senior Unsecured Notes

As of June 30, 2024, the Company had outstanding an aggregate of $4,200.0 million in senior unsecured notes (collectively, the “Senior Notes”) and $336.9 million under the Revolving Credit Facility (as defined below) as presented in the table below:

												Principal Amount Outstanding at						Carrying Value at						Carrying Value at						Fair Value at						Fair Value at
(in thousands)						Maturity Date						June 30, 2024						June 30, 2024						December 31, 2023						June 30, 2024						December 31, 2023
Debt
4.000% senior unsecured notes due 2029						November 15, 2029						$	1,000,000					$	994,182					$	993,637					$	933,350					$	941,090
3.625% senior unsecured notes due 2030						September 1, 2030						900,000						895,918						895,587						809,514						815,526
3.875% senior unsecured notes due 2031						February 15, 2031						1,000,000						992,708						992,161						899,970						914,360
3.625% senior unsecured notes due 2031						November 1, 2031						600,000						595,181						594,852						526,722						529,458
3.250% senior unsecured notes due 2033						August 15, 2033						700,000						693,866						693,532						578,998						586,509
Variable rate Tranche A Term Loans due 2027						February 16, 2027						—						—						337,959						—						337,367
Variable rate revolving loan commitments(1)						January 26, 2029						336,875						336,875						—						335,191						—
Total debt												$	4,536,875					$	4,508,730					$	4,507,728					$	4,083,745					$	4,124,310

___________________________

(1)As of June 30, 2024, there were $4.5 million in unamortized deferred financing fees associated with the variable rate revolving loan commitments of which $1.0 million is included in “Prepaid and other assets,” and $3.5 million is included in “Other non-current assets” on the Unaudited Condensed Consolidated Statement of Financial Condition.

Schedule of Maturities of Long-Term Debt

Maturities of the Company’s principal debt payments as of June 30, 2024 are as follows:

Maturity of Principal Debt Payments (in thousands)						Amounts
Remainder of 2024						$	—
2025						—
2026						—
2027						—
2028						—
Thereafter						4,536,875
Total debt						$	4,536,875

Schedule of Interest Payments Due Attributable to Outstanding indebtedness

Interest payments attributable to the Company’s outstanding indebtedness are due as presented in the following table:

Interest payment frequency

First interest payment date

Senior Notes and Revolving Loan Commitments

4.000% senior unsecured notes due 2029

Semi-Annual

May 15

3.625% senior unsecured notes due 2030

Semi-Annual

March 1

3.875% senior unsecured notes due 2031

Semi-Annual

June 1

3.625% senior unsecured notes due 2031

Semi-Annual

May 1

3.250% senior unsecured notes due 2033

Semi-Annual

February 15

Variable rate revolving loan commitments(1)

Variable

February 26

___________________________

(1)     The first payment occurred on February 26, 2024.

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