XML 23 R12.htm IDEA: XBRL DOCUMENT v3.20.2

Indebtedness

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Indebtedness

NOTE 4: Indebtedness

The following tables contain summary information concerning our indebtedness as of June 30, 2020:

Debt:		Outstanding Principal				Unamortized Debt Issuance Costs				Carrying Amount				Type		Weighted Average Rate			Weighted Average Maturity (in years)
Unsecured credit facility (1)		$	212,802			$	(2,037	)		$	210,765			Floating		1.6%				2.9
Unsecured term loans			300,000				(1,412	)			298,588			Floating		1.5%				3.8
Mortgages			501,041				(1,483	)			499,558			Fixed		3.9%				3.5
Total Debt		$	1,013,843			$	(4,932	)		$	1,008,911					2.7%				3.5

(1) The unsecured credit facility total capacity is $350,000, of which $212,802 was outstanding as of June 30, 2020.   

On July 9, 2020, we drew down on our unsecured credit facility to extinguish a property mortgage and make partial paydowns totaling $32,117. The property mortgages had a weighted-average rate of 3.9% compared to the 1.6% interest rate on our unsecured credit facility as of June 30, 2020.

As of June 30, 2020, we were in compliance with all financial covenants contained in the documents governing our indebtedness.

		Scheduled maturities on or before December 31,
Debt:		2020				2021				2022				2023				2024				Thereafter
Unsecured credit facility		$	—			$	—			$	—			$	212,802			$	—			$	—
Unsecured term loans			—				—				—				—				300,000				—
Mortgages			3,926				76,176				70,840				107,523				58,062				184,514
Total		$	3,926			$	76,176			$	70,840			$	320,325			$	358,062			$	184,514

The following table contains summary information concerning our indebtedness as of December 31, 2019:

Debt:		Outstanding Principal				Unamortized Debt Issuance Costs				Carrying Amount				Type		Weighted Average Rate			Weighted Average Maturity (in years)
Unsecured credit facility (1)		$	186,302			$	(2,336	)		$	183,966			Floating		3.2%				3.4
Unsecured term loans			300,000				(1,582	)			298,418			Floating		3.1%				4.3
Mortgages			504,876				(1,688	)			503,188			Fixed		3.9%				4.0
Total Debt		$	991,178			$	(5,606	)		$	985,572					3.5%				4.0

(1) The unsecured credit facility total capacity was $350,000, of which $186,302 was outstanding as of December 31, 2019.

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

+ Details

Name:	us-gaap_DebtDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration