XML 46 R37.htm IDEA: XBRL DOCUMENT v3.23.2
Notes Payable (Summary Of Indebtedness) (Details) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 01, 2023
Dec. 31, 2022
Unsecured notes payable $ 3,352,415   $ 3,165,924
Secured notes payable 330,015   514,989
Total notes payable (2) [1] 3,682,400   3,680,900
Commercial Banks [Member]      
Unsecured notes payable $ 816,900   381,800
Commercial Banks [Member] | 6.35% Term Loan, due 2024      
Debt Instrument, Maturity Date Sep. 30, 2024    
Notes payable, effective interest rate 6.35%    
Unsecured notes payable $ 39,900   39,800
Commercial Banks [Member] | 5.95% Term Loan, due 2024      
Debt Instrument, Maturity Date Aug. 30, 2024    
Notes payable, effective interest rate 5.95%    
Unsecured notes payable $ 300,000   300,000
Commercial Banks [Member] | 5.88% Unsecured revolving credit facility      
Notes payable, effective interest rate 5.88%    
Unsecured notes payable $ 477,000   42,000
Senior Unsecured Notes [Member]      
Unsecured notes payable $ 2,535,500   2,784,100
Senior Unsecured Notes [Member] | 5.07% Notes Due 2023 [Member]      
Debt Instrument, Maturity Date Jun. 15, 2023    
Notes payable, effective interest rate 5.07%    
Unsecured notes payable $ 0 $ 250,000 249,800
Senior Unsecured Notes [Member] | 4.36% Notes Due 2024 [Member]      
Debt Instrument, Maturity Date Jan. 15, 2024    
Notes payable, effective interest rate 4.36%    
Unsecured notes payable $ 249,900   249,700
Senior Unsecured Notes [Member] | 3.68% Notes Due 2024 [Member]      
Debt Instrument, Maturity Date Sep. 15, 2024    
Notes payable, effective interest rate 3.68%    
Unsecured notes payable $ 249,500   249,200
Senior Unsecured Notes [Member] | 3.74% Notes Due 2028 [Member]      
Debt Instrument, Maturity Date Oct. 15, 2028    
Notes payable, effective interest rate 3.74%    
Unsecured notes payable $ 398,400   398,300
Senior Unsecured Notes [Member] | 3.67% Notes Due 2029 [Member]      
Debt Instrument, Maturity Date Jul. 01, 2029    
Notes payable, effective interest rate 3.67%    
Unsecured notes payable [2] $ 595,800   595,500
Senior Unsecured Notes [Member] | 2.91% Notes, due 2030      
Debt Instrument, Maturity Date May 15, 2030    
Notes payable, effective interest rate 2.91%    
Unsecured notes payable $ 745,100   744,800
Senior Unsecured Notes [Member] | 3.41% Notes Due 2049 [Member]      
Debt Instrument, Maturity Date Nov. 01, 2049    
Notes payable, effective interest rate 3.41%    
Unsecured notes payable $ 296,800   296,800
Secured Debt | 3.78% - 4.04% Conventional Mortgage Notes, due 2026 - 2028      
Secured notes payable $ 291,300   291,200
Secured Debt | 6.69% Variable Rate Notes, due 2026      
Notes payable, effective interest rate 6.69%    
Secured notes payable $ 0   166,200
Secured Debt | 6.99% Variable Rate Construction Note, due 2024      
Debt Instrument, Maturity Date Jun. 20, 2024    
Notes payable, effective interest rate 6.99%    
Secured notes payable $ 0   18,900
Secured Debt | 3.87% note, due 2028      
Debt Instrument, Maturity Date Jan. 01, 2028    
Notes payable, effective interest rate 3.87%    
Secured notes payable $ 38,700   $ 38,700
Minimum [Member] | Secured Debt | 3.78% - 4.04% Conventional Mortgage Notes, due 2026 - 2028      
Debt Instrument, Maturity Date Oct. 01, 2026    
Notes payable, effective interest rate 3.78%    
Minimum [Member] | Secured Debt | 6.69% Variable Rate Notes, due 2026      
Debt Instrument, Maturity Date Apr. 01, 2026    
Maximum [Member] | Secured Debt | 3.78% - 4.04% Conventional Mortgage Notes, due 2026 - 2028      
Debt Instrument, Maturity Date Apr. 01, 2028    
Notes payable, effective interest rate 4.04%    
Maximum [Member] | Secured Debt | 6.69% Variable Rate Notes, due 2026      
Debt Instrument, Maturity Date Oct. 01, 2026    
[1] Unamortized debt discounts, debt issuance costs, and fair market value adjustments of $15.5 million and $18.0 million are included in notes payable as of June 30, 2023 and December 31, 2022, respectively.
[2] 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%.