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Debt (Tables) | 6 Months Ended
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Jun. 30, 2024
Debt Disclosure [Abstract] |
Schedule of Debt |
(in millions) | June 30, 2024 |  | December 31, 2023
Unsecured Credit Facilities | $ | 5,811 |  |  | $ | 3,080 |
Unsecured Notes | 1,686 |  |  | 1,708 |
Secured Debt | 1,840 |  |  | 4,188 |
Other | 26 |  |  | 33 |
Total debt | 9,363 |  |  | 9,009 |
Less current portion long-term debt | (39) |  |  | (24) |
Less deferred financing costs | (19) |  |  | (23) |
Less below-market debt | (5) |  |  | (6) |
Plus above-market debt | 2 |  |  | 2 |
Total long-term debt, net | $ | 9,302 |  |  | $ | 8,958 |
Summary of Credit Agreement | The following table provides the details of the Credit Agreement:
| June 30, 2024 |  | December 31, 2023
(in millions) | Contractual Interest Rate (1) | Borrowing Currency | Carrying Amount (USD) |  | Contractual Interest Rate (1) | Borrowing Currency | Carrying Amount (USD)
Term Loan A |  |  |  |  |  |
USD | SOFR+1.60% | 1,000 |  | $ | 1,000 |  |  | SOFR+1.60% | 1,875 |  | $ | 1,875 |
Revolving Credit Facility |  |  |  |  |
USD | SOFR+1.60% | 1,475 |  | 1,475 |  |  | SOFR+1.60% | 315 |  | 315 |
CAD | CDOR+1.60% | 442 |  | 323 |  |  | CDOR+1.60% | 448 | 338 |
EUR | EURIBOR+1.60% | 227 |  | 243 |  |  | EURIBOR+1.60% | 349 |  | 238 |
AUD | BBSW+1.60% | 363 |  | 242 |  |  | BBSW+1.60% | 175 |  | 193 |
DKK | CIBOR+1.60% | 487 |  | 70 |  |  | CIBOR+1.60% | 498 |  | 74 |
NZD | BKBM+1.60% | 85 |  | 52 |  |  | BKBM+1.60% | 62 |  | 39 |
NOK | NIBOR+1.60% | 65 |  | 6 |  |  | NIBOR+1.60% | 86 |  | 8 |
Total Revolving Credit Facility |  | $ | 2,411 |  |  |  |  | $ | 1,205 |
1 SOFR = for purpose of the above instruments, the term “SOFR” refers to the Term Secured Overnight Financing Rate plus 0.1% (or “Adjusted Term SOFR”), CDOR = Canadian Dollar Offered Rate, BBSW = Bank Bill Swap Rate, EURIBOR = Euro Interbank Offered Rate, CIBOR = Copenhagen Interbank Offered Rate, NIBOR = Norwegian Interbank Offered Rate, BKBM = Bank Bill Reference Rate

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