XML 42 R31.htm IDEA: XBRL DOCUMENT
v3.20.2

Debt (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2020
Debt Disclosure [Abstract] |
Summary of Senior Notes Issuances | The following table summarizes the Company’s senior unsecured notes issuances during the year ended December 31, 2019 (dollars in thousands):
Issue Date |  | Amount |  | Coupon Rate |  | Maturity Date
November 21, 2019 |  | $ | 750,000 |  |  | 3.000 | % |  | 2030
July 5, 2019 |  | $ | 650,000 |  |  | 3.250 | % |  | 2026
July 5, 2019 |  | $ | 650,000 |  |  | 3.500 | % |  | 2029
The following table summarizes the Company’s senior unsecured notes payoffs during the year ended December 31, 2019 (dollars in thousands):
Payoff Date |  | Amount |  | Coupon Rate |  | Maturity Date
November 21, 2019(1) |  | $ | 350,000 |  |  | 4.000 | % |  | 2022
July 22, 2019(2) |  | $ | 800,000 |  |  | 2.625 | % |  | 2020
July 8, 2019(2) |  | $ | 250,000 |  |  | 4.000 | % |  | 2022
July 8, 2019(2) |  | $ | 250,000 |  |  | 4.250 | % |  | 2023
_______________________________________
(1) | The Company recognized a $22 million loss on debt extinguishment related to the repurchase of senior notes.
(2) Upon completing the redemption of the 2.625% senior unsecured notes due February 2020 and repurchasing a portion of the 4.250% senior unsecured notes due 2023 and the 4.000% senior unsecured notes due 2022, the Company recognized a $35 million loss on debt extinguishment. The following table summarizes the Company’s senior unsecured notes issuances during the six months ended June 30, 2020 (dollars in thousands):
Issue Date |  | Amount |  | Coupon Rate |  | Maturity Date
June 23, 2020 |  | $ | 600,000 |  |  | 2.875 | % |  | 2031
The following table summarizes the Company’s senior unsecured notes payoffs during the six months ended June 30, 2020 (dollars in thousands):
Payoff Date |  | Amount |  | Coupon Rate |  | Maturity Date
June 24, 2020(1) |  | $ | 250,000 |  |  | 4.250 | % |  | 2023
_______________________________________ (1) Upon repurchasing a portion of the 4.250% senior unsecured notes due 2023, the Company recognized a $26 million loss on debt extinguishment.
Summary of Debt Maturities and Schedule Principal Repayments | The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at June 30, 2020 (in thousands):
Year |  | Bank Line of Credit |  | Commercial Paper |  | Term Loan |  | Senior Unsecured Notes(1) |  | Mortgage Debt(2) |  | Total
2020 (six months) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,205 |  |  | $ | 4,205 |
2021 |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,165 |  |  | 16,165 |
2022 |  | — |  |  | — |  |  | — |  |  | 300,000 |  |  | 8,417 |  |  | 308,417 |
2023 |  | — |  |  | — |  |  | — |  |  | 300,000 |  |  | 93,609 |  |  | 393,609 |
2024 |  | — |  |  | — |  |  | 250,000 |  |  | 1,150,000 |  |  | 6,939 |  |  | 1,406,939 |
Thereafter |  | — |  |  | — |  |  | — |  |  | 4,300,000 |  |  | 340,925 |  |  | 4,640,925 |
|  | — |  |  | — |  |  | 250,000 |  |  | 6,050,000 |  |  | 470,260 |  |  | 6,770,260 |
(Discounts), premium and debt costs, net |  | — |  |  | — |  |  | (938 | ) |  | (57,807 | ) |  | 17,272 |  |  | (41,473 | )
|  | — |  |  | — |  |  | 249,062 |  |  | 5,992,193 |  |  | 487,532 |  |  | 6,728,787 |
Debt on assets held for sale(3) |  | — |  |  | — |  |  | — |  |  | — |  |  | 27,645 |  |  | 27,645 |
|  | $ | — |  |  | $ | — |  |  | $ | 249,062 |  |  | $ | 5,992,193 |  |  | $ | 515,177 |  |  | $ | 6,756,432 |
_______________________________________
(1) | Effective interest rates on the senior notes range from 3.08% to 6.87% with a weighted average effective interest rate of 3.83% and a weighted average maturity of 7 years. As noted above, in July 2020, the Company redeemed all $300 million aggregate principal amount of 3.15% senior unsecured notes due in 2022.
(2) | Excluding mortgage debt on assets held for sale, effective interest rates on the mortgage debt range from 1.34% to 5.91% with a weighted average effective interest rate of 3.87% and a weighted average maturity of 9 years.
(3) Represents mortgage debt on assets held for sale with an interest rate of 3.45% and maturity in 2044.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=119993939&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration