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v3.26.1

Notes Payable (Tables) | 3 Months Ended
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Mar. 31, 2026
Notes Payable [Abstract] |
Summary Of Indebtedness | The following is a summary of our indebtedness:
(in millions) |  | March 31, 2026 |  | December 31, 2025
Commercial banks |  |  |  |
4.84% Term Loan, due 2026 |  | $ | 39.9 |  |  | $ | 39.9 |
3.85% Commercial Paper Program |  | 358.8 |  |  | 590.0 |
|  | $ | 398.7 |  |  | $ | 629.9 |
Senior unsecured notes |  |  |  |
4.97% Notes, due 2026 (1) |  | $ | 502.1 |  |  | $ | 504.0 |
3.74% Notes, due 2028 |  | 399.5 |  |  | 399.4 |
3.67% Notes, due 2029 (2) |  | 597.6 |  |  | 597.4 |
2.91% Notes, due 2030 |  | 746.9 |  |  | 746.8 |
5.06% Notes, due 2034 |  | 395.8 |  |  | 395.7 |
5.03% Notes, due 2036 |  | 594.1 |  |  | — |
3.41% Notes, due 2049 |  | 297.1 |  |  | 297.0 |
|  | $ | 3,533.1 |  |  | $ | 2,940.3 |
Total unsecured notes payable |  | $ | 3,931.8 |  |  | $ | 3,570.2 |
Secured notes |  |  |  |
Master Credit Facilities |  |  |  |
3.78% - 4.01% Conventional Mortgage Notes, due 2026 - 2028 |  | $ | 279.6 |  |  | $ | 291.5 |
3.87% note, due 2028 |  | 39.1 |  |  | 39.1 |
Total secured notes payable |  | $ | 318.7 |  |  | $ | 330.6 |
Total notes payable (3) |  | $ | 4,250.5 |  |  | $ | 3,900.8 |
(1) Balances are increased by $2.7 million and $4.9 million for fair value adjustments due to changes in benchmark interest rates related to these notes as of March 31, 2026 and December 31, 2025, respectively. See Note 7. "Derivative Financial Instruments and Hedging Activities," for further discussion. (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%. (3) Balances are decreased by unamortized debt discounts, debt issuance costs, and fair market value adjustments, net of $17.3 million and $10.1 million as of March 31, 2026 and December 31, 2025, 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, 2026:
(in millions) (1) |  | Amount (2) |  | Weighted Average Interest Rate (3)
Remainder of 2026 |  | $ | 910.7 |  |  | 4.5 | %
2027 |  | 172.0 |  |  | 3.9 |
2028 |  | 529.4 |  |  | 3.8 |
2029 |  | 597.7 |  |  | 3.8 |
2030 |  | 748.5 |  |  | 2.9 |
Thereafter |  | 1,292.2 |  |  | 4.7 |
Total |  | $ | 4,250.5 |  |  | 4.1 | %
(1)Includes all available extension options. (2)Includes amortization of debt discounts, debt issuance costs, and fair market value adjustments. (3)Includes the effects of the applicable settled derivatives.

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