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DEBT, NET (Tables)

6 Months Ended

Jun. 30, 2026

Debt Disclosure [Abstract]

Schedule of Debt, Net

The Company’s debt, net is summarized as follows:

			June 30, 2026 (unaudited)																		December 31, 2025
			Outstanding Borrowings						Stated Interest Rate						Maturity Date						Outstanding Borrowings
Loans payable
Revolving Credit Facility (1)			$	—					(i) Base Rate + 0.25% - 1.00%; or (ii) Adjusted Term SOFR Rate + 1.25% - 2.00%						4/24/31						$	—
Total loans payable			—																		—
Bonds payable
Senior Notes due 2028 (2)			1,000,793						5.50%						5/1/28						1,000,995
Senior Notes due 2030 (3)			497,682						7.88%						12/1/30						497,470
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)			497,905						5.88%						4/15/33						497,784
Total bonds payable			3,496,380																		3,496,249
Debt			3,496,380																		3,496,249
Less: Debt issuance costs			(43,060)																		(47,358)
Total debt, net			$	3,453,320																	$	3,448,891
Total debt due within one year			$	—																	$	—

(1)Requires a quarterly commitment fee at a rate of 0.15% - 0.30% on the average daily unused portion, as well as customary letter of credit fees and agency fees. Both the quarterly commitment fee and the margin for the Base Rate and Adjusted Term SOFR Rate are based upon the debt to EBITDA ratio as of the end of the most recent fiscal quarter.

(2)Includes an unamortized premium of $793 at June 30, 2026 (December 31, 2025 - $995).

(3)Includes an unamortized discount of $2,318 at June 30, 2026 (December 31, 2025 - $2,530).

(4)Includes an unamortized discount of $2,095 at June 30, 2026 (December 31, 2025 - $2,216).

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- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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