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DEBT, NET | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
DEBT, NET | 7. DEBT, NET Our debt, net is summarized as follows:
| March 31, 2025 (unaudited) |  | December 31, 2024
| Outstanding Borrowings |  | Stated Interest Rate |  | Maturity Date |  | Outstanding Borrowings
Loans payable |  |  |  |  |  |  |
Revolving Credit Facility (1) | $ | 200,000 |  |  | (i) Base Rate + 1.75%; or (ii) Adjusted Term SOFR Rate + 2.75% |  | 5/22/27 |  | $ | — |
Total loans payable | 200,000 |  |  |  |  |  |  | — |
Bonds payable |  |  |  |  |  |  |
Senior Notes due 2028 (2) | 1,001,287 |  |  | 5.50% |  | 5/1/28 |  | 1,001,382 |
Senior Notes due 2030 (3) | 497,168 |  |  | 7.88% |  | 12/1/30 |  | 497,071 |
Senior Notes due 2031 | 700,000 |  |  | 7.00% |  | 5/1/31 |  | 700,000 |
Senior Notes due 2032 | 800,000 |  |  | 7.00% |  | 6/15/32 |  | 800,000 |
Senior Notes due 2033 (4) | 497,608 |  |  | 5.88% |  | 4/15/33 |  | 497,551 |
Total bonds payable | 3,496,063 |  |  |  |  |  |  | 3,496,004 |
Debt | 3,696,063 |  |  |  |  |  |  | 3,496,004 |
Less: Debt issuance costs | (53,536) |  |  |  |  |  |  | (55,526) |
Total debt, net | $ | 3,642,527 |  |  |  |  |  |  | $ | 3,440,478 |
Total debt due within one year | $ | — |  |  |  |  |  |  | $ | — |
________________________________________________________ (1) Requires a quarterly commitment fee at a rate of 0.50% on the average daily unused portion, as well as customary letter of credit fees and agency fees. (2) Includes an unamortized premium of $1,287 and $1,382 at March 31, 2025 and December 31, 2024, respectively. (3) Includes an unamortized discount of $2,832 and $2,929 at March 31, 2025 and December 31, 2024, respectively. (4) Includes an unamortized discount of $2,392 and $2,449 at March 31, 2025 and December 31, 2024, respectively. We were in compliance with all debt covenants as of March 31, 2025.

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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://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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