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Borrowings (Tables) | 9 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
Summary of Outstanding Debt | The following table summarizes the Company’s outstanding debt as of September 30, 2021 (dollars in thousands):
|  | Balance |  |  | Weighted Average Effective Rate |  |  | Weighted Average Contract Maturity
Unsecured debt |  |  |  |  |  |  |  |
Variable rate commercial paper program |  | $ | 25,000 |  |  |  | 0.2 | % |  | 10/1/2021
Fixed rate senior notes |  |  | 4,175,000 |  |  |  | 3.3 | % |  | 3/4/2029
Debt issuance costs, discounts, premiums and fair market value adjustments |  |  | (24,744 | ) |  |  |  |  |
Total unsecured debt |  | $ | 4,175,256 |  |  |  | 3.3 | % |  |
Secured debt |  |  |  |  |  |  |  |
Fixed rate property mortgages |  | $ | 368,892 |  |  |  | 4.4 | % |  | 9/17/2048
Debt issuance costs |  |  | (3,261 | ) |  |  |  |  |
Total secured debt |  | $ | 365,631 |  |  |  | 4.4 | % |  |
Total outstanding debt |  | $ | 4,540,887 |  |  |  | 3.4 | % |  |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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