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v3.25.2

Borrowings (Tables) | 6 Months Ended
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Jun. 30, 2025
Debt Disclosure [Abstract] |
Summary of Outstanding Debt | The following table summarizes the Company’s outstanding debt as of June 30, 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 |  |  | 315,000 |  |  |  | 4.7 | % |  | 7/6/2025
Debt issuance costs, discounts and premiums |  |  | (27,187 | ) |  |  |  |  |
Total unsecured debt |  | $ | 4,687,813 |  |  |  | 3.8 | % |  |
Secured debt |  |  |  |  |  |  |  |
Fixed rate property mortgages |  | $ | 363,293 |  |  |  | 4.4 | % |  | 1/26/2049
Debt issuance costs |  |  | (2,963 | ) |  |  |  |  |
Total secured debt |  | $ | 360,330 |  |  |  | 4.4 | % |  |
Total outstanding debt |  | $ | 5,048,143 |  |  |  | 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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