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v3.25.1

Borrowings (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Summary of Outstanding Debt | The following table summarizes the Company’s outstanding debt as of March 31, 2025 (dollars in thousands):
|  | Balance |  |  | Weighted Average Effective Rate |  |  | Weighted Average Contract Maturity
Unsecured debt |  |  |  |  |  |  |  |
Fixed rate senior notes |  | $ | 4,400,000 |  |  |  | 3.7 | % |  | 5/9/2031
Variable rate commercial paper program |  |  | 310,000 |  |  |  | 4.6 | % |  | 4/4/2025
Debt issuance costs, discounts and premiums |  |  | (28,132 | ) |  |  |  |  |
Total unsecured debt |  | $ | 4,681,868 |  |  |  | 3.8 | % |  |
Secured debt |  |  |  |  |  |  |  |
Fixed rate property mortgages |  | $ | 363,293 |  |  |  | 4.4 | % |  | 1/26/2049
Debt issuance costs |  |  | (2,995 | ) |  |  |  |  |
Total secured debt |  | $ | 360,298 |  |  |  | 4.4 | % |  |
Total outstanding debt |  | $ | 5,042,166 |  |  |  | 3.8 | % |  |

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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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