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Senior Notes (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Summary of Senior Notes | The following table summarizes our senior notes as of December 31, 2024 and 2023 (in thousands):
|  | December 31, |
|  | 2024 |  |  | 2023 |
4.25% senior notes, due 2024 (1) |  | $ | — |  |  | $ | 500,000 |
4.00% senior notes, due 2030 (2) |  |  | 400,000 |  |  |  | 400,000 |
5.20% senior notes, due 2047 (3) |  |  | 225,000 |  |  |  | 225,000 |
|  |  | 625,000 |  |  |  | 1,125,000 |
Debt issuance costs, net |  |  | (8,382 | ) |  |  | (9,371 | )
Senior notes, net |  | $ | 616,618 |  |  | $ | 1,115,629 |
(1) In July 2014, we sold in a registered underwritten public offering, $300.0 million in aggregate principal amount of 4.25% senior notes due July 2024. In July 2016, we issued an additional $200.0 million in aggregate principal amount of 4.25% senior notes due July 2024. On July 18, 2024, the Company’s 4.25% Senior Notes matured resulting in the retirement of the $500.0 million outstanding balance. (2) In May 2020, we sold in a registered underwritten public offering, $400.0 million in aggregate principal amount of 4.00% senior notes due May 2030. Interest on these senior notes is payable semi-annually in arrears. We may redeem the notes in whole or in part, at our option, at a redemption price equal to the greater of a) 100% of their principal amount, or b) discounted present value at Treasury rate plus 50 basis points prior to February 15, 2030, and on or after February 15, 2030, at 100% of their principal amount, and accrued and unpaid interest, if any, to the date of redemption. (3) In October 2017, we completed the pricing of a registered underwritten public offering of $200.0 million in aggregate principal amount of 5.20% senior notes due October 2047. Interest on the senior notes is payable quarterly in arrears. We may redeem some or all of the senior notes at any time at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued interest thereon to the redemption date. On October 27, 2017, we completed the sale of an additional $25.0 million aggregate principal amount of Notes pursuant to the over-allotment option.
Schedule of Corporate Date Maturity | Our senior notes mature as follows, based upon contractual terms (in thousands):
2025 |  | $ | — |
2026 |  |  | — |
2027 |  |  | — |
2028 |  |  | — |
2029 |  |  | — |
Thereafter |  |  | 625,000 |
|  | $ | 625,000 |

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