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Notes Payable (Tables)

3 Months Ended

Mar. 31, 2022

Notes Payable [Abstract]

Summary Of Indebtedness

The following is a summary of our indebtedness:

(in millions)						March 31, 2022						December 31, 2021
Commercial banks
1.99% Term Loan, due 2022						$	39.9					$	39.9
1.23% Unsecured credit facility						500.0						—
						$	539.9					$	39.9
Senior unsecured notes
3.15% Notes, due 2022						$	349.5					$	349.3
5.07% Notes, due 2023						249.5						249.3
4.36% Notes, due 2024						249.5						249.5
3.68% Notes, due 2024						248.9						248.8
3.74% Notes, due 2028						397.9						397.8
3.67% Notes, due 2029 (1)						595.0						594.9
2.91% Notes, due 2030						744.3						744.1
3.41% Notes, due 2049						296.8						296.8
						$	3,131.4					$	3,130.5
Total unsecured notes payable (2)						$	3,671.3					$	3,170.4

(1)    The 2029 Notes have an effective annual interest rate of approximately 3.84% through June 2026, which includes the effect of a settled forward interest rate swap, and approximately 3.28% thereafter, for an all-in average effective rate of approximately 3.67%.

(2) Unamortized debt discounts and debt issuance costs of $18.7 million and $19.6 million are included in senior unsecured notes payable as of March 31, 2022 and December 31, 2021, respectively.

Scheduled Repayments On Outstanding Debt

The table below is a summary of the maturity dates of our outstanding debt and principal amortizations, and the weighted average interest rates on such debt, at March 31, 2022: 

(in millions)						Amount (1)						Weighted Average  Interest Rate (2)
Remainder of 2022						$	387.2					3.0		%
2023						247.3						5.1
2024 (3)						997.9						2.6
2025						(1.8)						—
2026						(1.8)						—
Thereafter						2,042.5						3.4
Total						$	3,671.3					3.3		%

(1)Includes amortization of debt discounts and debt issuance costs.

(2)Includes the effects of the applicable settled forward interest rate swaps.

(3)Includes $500.0 million of borrowings outstanding under our unsecured credit facility and includes all available extension options.

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