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Debt (Tables) | 9 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
Summary of Senior Notes Issuances | The following table summarizes the Company’s senior unsecured notes repurchases and redemptions during the nine months ended September 30, 2021 (dollars in thousands):
Payoff Date |  | Amount |  | Coupon Rate |  | Maturity Year
May 19, 2021(1) |  | $ | 251,806 |  |  | 3.40 | % |  | 2025
May 19, 2021(1) |  | 298,194 |  |  | 4.00 | % |  | 2025
February 26, 2021(2) |  | 188,000 |  |  | 4.25 | % |  | 2023
February 26, 2021(2) |  | 149,000 |  |  | 4.20 | % |  | 2024
February 26, 2021(2) |  | 331,000 |  |  | 3.88 | % |  | 2024
January 28, 2021(2) |  | 112,000 |  |  | 4.25 | % |  | 2023
January 28, 2021(2) |  | 201,000 |  |  | 4.20 | % |  | 2024
January 28, 2021(2) |  | 469,000 |  |  | 3.88 | % |  | 2024
_______________________________________ (1)Upon repurchasing a portion of the 3.40% and 4.00% senior unsecured notes due 2025, the Company recognized a $61 million loss on debt extinguishment during the nine months ended September 30, 2021. (2)Upon completing the repurchases and redemptions of all outstanding 4.25%, 4.20%, and 3.88% senior unsecured notes due 2023 and 2024, the Company recognized a $164 million loss on debt extinguishment during the nine months ended September 30, 2021. The senior unsecured notes were issued and the proceeds were received on July 12, 2021 as follows (dollars in thousands):
Issue Date |  | Amount |  | Coupon Rate |  | Maturity Year
July 12, 2021 |  | $ | 450,000 |  |  | 1.35 | % |  | 2027
The following table summarizes the Company’s senior unsecured notes repurchases and redemptions during the year ended December 31, 2020 (dollars in thousands):
Payoff Date |  | Amount |  | Coupon Rate |  | Maturity Year
July 9, 2020(1) |  | $ | 300,000 |  |  | 3.15 | % |  | 2022
June 24, 2020(2) |  | 250,000 |  |  | 4.25 | % |  | 2023
_______________________________________ (1)Upon completing the redemption of all outstanding 3.15% senior unsecured notes due 2022, the Company recognized an $18 million loss on debt extinguishment during the three and nine months ended September 30, 2020. (2)Upon repurchasing a portion of the 4.25% senior unsecured notes due 2023, the Company recognized a $26 million loss on debt extinguishment during the nine months ended September 30, 2020. The following table summarizes the Company’s senior unsecured notes issuances during the year ended December 31, 2020 (dollars in thousands):
Issue Date |  | Amount |  | Coupon Rate |  | Maturity Year
June 23, 2020 |  | $ | 600,000 |  |  | 2.88 | % |  | 2031
Summary of Debt Maturities and Schedule Principal Repayments | The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at September 30, 2021 (dollars in thousands):
|  |  |  |  |  |  |  | Senior Unsecured Notes(2) |  | Mortgage Debt(3) |  |
Year |  | Bank Line of Credit |  | Commercial Paper(1) |  |  |  | Amount |  | Interest Rate |  | Amount |  | Interest Rate |  | Total
2021 |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | — | % |  | $ | 8,731 |  |  | 4.86 | % |  | $ | 8,731 |
2022 |  | — |  |  | — |  |  |  |  | — |  |  | — | % |  | 4,843 |  |  | 3.80 | % |  | 4,843 |
2023 |  | — |  |  | — |  |  |  |  | — |  |  | — | % |  | 89,874 |  |  | 3.80 | % |  | 89,874 |
2024 |  | — |  |  | — |  |  |  |  | — |  |  | — | % |  | 3,050 |  |  | 3.80 | % |  | 3,050 |
2025 |  | — |  |  | — |  |  |  |  | 800,000 |  |  | 3.93 | % |  | 3,209 |  |  | 3.80 | % |  | 803,209 |
Thereafter |  | — |  |  | 1,024,000 |  |  |  |  | 3,400,000 |  |  | 3.39 | % |  | 244,889 |  |  | 3.12 | % |  | 4,668,889 |
|  | — |  |  | 1,024,000 |  |  |  |  | 4,200,000 |  |  |  |  | 354,596 |  |  |  |  | 5,578,596 |
(Discounts), premium and debt costs, net |  | — |  |  | — |  |  |  |  | (42,166) |  |  |  |  | 1,974 |  |  |  |  | (40,192) |
|  | $ | — |  |  | $ | 1,024,000 |  |  |  |  | $ | 4,157,834 |  |  |  |  | $ | 356,570 |  |  |  |  | $ | 5,538,404 |
_______________________________________ (1)Commercial Paper Program borrowings are backstopped by the Revolving Facility. As such, the Company calculates the weighted average remaining term of its Commercial Paper Program borrowings using the maturity date of the Revolving Facility. (2)Effective interest rates on the senior unsecured notes range from 1.54% to 6.91% with a weighted average effective interest rate of 3.51% and a weighted average maturity of 7 years. (3)Effective interest rates on the mortgage debt range from 2.50% to 5.91% with a weighted average effective interest rate of 3.31% and a weighted average maturity of 4 years.

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