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v3.23.1

Long-Term Debt | 3 Months Ended
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Mar. 31, 2023
Long-Term Debt. |
Long-Term Debt | 11. Long-Term Debt ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2023
​ | ​ | ​ | ​ | ​ | Net unamortized | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | discount, | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | premium and | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | debt issuance | ​ | Carrying
​ |  | Principal |  | costs |  | amount
​ | ​ | (in millions)
3.125% notes payable, due 2023 |  | $ | 300.0 |  | $ | — |  | $ | 300.0
3.4% notes payable, due 2025 |  | ​ | 400.0 |  | ​ | (1.1) |  | ​ | 398.9
3.1% notes payable, due 2026 |  | ​ | 350.0 |  | ​ | (1.3) |  | ​ | 348.7
3.7% notes payable, due 2029 |  | ​ | 500.0 |  | ​ | (4.2) |  | ​ | 495.8
2.125% notes payable, due 2030 |  | ​ | 600.0 |  | ​ | (3.6) |  | ​ | 596.4
5.375% notes payable, due 2033 |  | ​ | 400.0 |  | ​ | (4.0) |  | ​ | 396.0
6.05% notes payable, due 2036 |  | ​ | 505.6 |  | ​ | (2.2) |  | ​ | 503.4
4.625% notes payable, due 2042 |  | ​ | 300.0 |  | ​ | (3.0) |  | ​ | 297.0
4.35% notes payable, due 2043 |  | ​ | 300.0 |  | ​ | (2.9) |  | ​ | 297.1
4.3% notes payable, due 2046 |  | ​ | 300.0 |  | ​ | (3.0) |  | ​ | 297.0
5.5% notes payable, due 2053 |  | ​ | 300.0 |  | ​ | (4.4) |  | ​ | 295.6
Floating rate notes payable, due 2055 |  | ​ | 400.0 |  | ​ | (4.5) |  | ​ | 395.5
Non-recourse mortgages and notes payable |  | ​ | 66.5 |  | ​ | 0.7 |  | ​ | 67.2
Total long-term debt |  | $ | 4,722.1 |  | $ | (33.5) |  | $ | 4,688.6
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2022
​ | ​ | ​ | ​ | ​ | Net unamortized | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | discount, | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | premium and | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | debt issuance | ​ | Carrying
​ |  | Principal |  | costs |  | amount
​ | ​ | (in millions)
3.125% notes payable, due 2023 |  | $ | 300.0 |  | $ | (0.1) |  | $ | 299.9
3.4% notes payable, due 2025 |  | ​ | 400.0 |  | ​ | (1.2) |  | ​ | 398.8
3.1% notes payable, due 2026 |  | ​ | 350.0 |  | ​ | (1.4) |  | ​ | 348.6
3.7% notes payable, due 2029 |  | ​ | 500.0 |  | ​ | (4.3) |  | ​ | 495.7
2.125% notes payable, due 2030 | ​ | ​ | 600.0 | ​ | ​ | (3.6) | ​ | ​ | 596.4
6.05% notes payable, due 2036 |  | ​ | 505.6 |  | ​ | (2.3) |  | ​ | 503.3
4.625% notes payable, due 2042 |  | ​ | 300.0 |  | ​ | (2.9) |  | ​ | 297.1
4.35% notes payable, due 2043 |  | ​ | 300.0 |  | ​ | (3.0) |  | ​ | 297.0
4.3% notes payable, due 2046 |  | ​ | 300.0 |  | ​ | (3.1) |  | ​ | 296.9
Floating rate notes payable, due 2055 |  | ​ | 400.0 |  | ​ | (4.5) |  | ​ | 395.5
Non-recourse mortgages and notes payable |  | ​ | 67.1 |  | ​ | 0.7 |  | ​ | 67.8
Total long-term debt | ​ | $ | 4,022.7 | ​ | $ | (25.7) | ​ | $ | 3,997.0
​ Net discount, premium and issuance costs associated with issuing these notes are amortized to expense over the respective terms using the interest method. On March 8, 2023, we issued $700.0 million of senior notes. We issued a $400.0 million series of notes that bear interest at 5.375% and will mature in 2033 and a $300.0 million series of notes that bear interest at 5.5% and will mature in 2053. Interest on the notes is payable semi-annually on March 15 and September 15 each year, beginning on September 15, 2023. The proceeds from these notes will be used to redeem our floating rate notes payable due in 2055, with the remainder available to repay at maturity our 3.125% notes payable due in the second quarter of 2023.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI https://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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