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Debt | 3 Months Ended
--- | ---
Mar. 31, 2024
Debt Disclosure [Abstract] |
Debt | Debt The following table reflects a summary of our outstanding indebtedness as of March 31, 2024 and December 31, 2023 (in thousands):
| March 31, 2024 | December 31, 2023
| Carrying Amount |  | Carrying Amount |
Senior Unsecured Notes | $ | 1,759,250 |  |  | $ | 1,777,925 |  |
Senior Unsecured Term Loans | 829,650 |  |  | 833,775 |  |
Senior Unsecured Revolving Credit Facility | 455,919 |  |  | 392,156 |  |
Total principal amount of indebtedness | $ | 3,044,819 |  |  | $ | 3,003,856 |  |
Less: unamortized deferred financing costs | (9,908) |  |  | (10,578) |  |
Total indebtedness, net of deferred financing costs | $ | 3,034,911 |  |  | $ | 2,993,278 |  |
The following table provides the details of our Senior Unsecured Notes (in thousands):
|  |  |  | March 31, 2024 |  | December 31, 2023
| Stated Maturity Date | Contractual Interest Rate |  | Borrowing Currency | Carrying Amount (USD) |  | Borrowing Currency | Carrying Amount (USD)
Series A Notes | 01/2026 | 4.7% |  | $ | 200,000 |  | $ | 200,000 |  |  | $ | 200,000 |  | $ | 200,000 |
Series B Notes | 01/2029 | 4.9% |  | $ | 400,000 |  | 400,000 |  |  | $ | 400,000 |  | 400,000 |
Series C Notes | 01/2030 | 4.1% |  | $ | 350,000 |  | 350,000 |  |  | $ | 350,000 |  | 350,000 |
Series D Notes | 01/2031 | 1.6% |  | € | 400,000 |  | 431,600 |  |  | € | 400,000 |  | 441,560 |
Series E Notes | 01/2033 | 1.7% |  | € | 350,000 |  | 377,650 |  |  | € | 350,000 |  | 386,365 |
Total Senior Unsecured Notes |  |  | $ | 1,759,250 |  |  |  | $ | 1,777,925 |
The following table provides the details of our Senior Unsecured Term Loans (balances in thousands):
|  | March 31, 2024 |  | December 31, 2023
|  | Contractual Interest Rate(1) |  | Borrowing Currency | Carrying Amount (USD) |  | Contractual Interest Rate(1) | Borrowing Currency | Carrying Amount (USD)
Tranche A-1 |  | SOFR 0.9% |  | $ | 375,000 |  | $ | 375,000 |  |  | SOFR 0.9% | $ | 375,000 |  | $ | 375,000 |
Tranche A-2 |  | CDOR 0.9% |  | C$ | 250,000 |  | 184,650 |  |  | CDOR 0.9% | C$ | 250,000 |  | 188,775 |
Delayed Draw Tranche A-3 |  | SOFR 0.9% |  | $ | 270,000 |  | 270,000 |  |  | SOFR 0.9% | $ | 270,000 |  | 270,000 |
Total Senior Unsecured Term Loan Facility |  |  | $ | 829,650 |  |  |  |  | $ | 833,775 |
(1) S = one-month Adjusted Term SOFR; C = one-month CDOR. Tranche A-1 and Tranche A-3 SOFR includes an adjustment of 0.1%, in addition to the margin. While the above reflects the contractual rate, refer to the description below of the Senior Unsecured Credit Facility for details of the portion of these Term Loans that are hedged, therefore, at a fixed interest rate for the duration of the respective swap agreement. Refer to Note 4 - Derivative Financial Instruments for details of the related interest rate swaps. The following table provides the details of our Senior Unsecured Revolving Credit Facility (in thousands):
|  | March 31, 2024 |  | December 31, 2023
Denomination of Draw |  | Contractual Interest Rate (1) |  | Borrowing Currency | Carrying Amount (USD) |  | Contractual Interest Rate(1) | Borrowing Currency | Carrying Amount (USD)
U.S. dollar |  | SOFR 0.8% |  | $ | 104,000 |  | $ | 104,000 |  |  | SOFR 0.8% | $ | 34,000 |  | $ | 34,000 |
Australian dollar |  | BBSW 0.8% |  | A$ | 197,000 |  | 128,464 |  |  | BBSW 0.8% | A$ | 191,000 |  | 130,108 |
British pound sterling |  | SONIA 0.8% |  | £ | 78,000 |  | 98,459 |  |  | SONIA 0.8% | £ | 78,000 |  | 99,302 |
Canadian dollar |  | CDOR 0.8% |  | C$ | 35,000 |  | 25,851 |  |  | CDOR 0.8% | C$ | 35,000 |  | 26,429 |
Euro |  | EURIBOR 0.8% |  | € | 67,500 |  | 72,833 |  |  | EURIBOR 0.8% | € | 67,500 |  | 74,513 |
New Zealand dollar |  | BKBM 0.8% |  | NZD | 44,000 |  | 26,312 |  |  | BKBM 0.8% | NZD | 44,000 |  | 27,804 |
Total Senior Unsecured Revolving Credit Facility |  |  | $ | 455,919 |  |  |  |  | $ | 392,156 |
(1) S = one-month Adjusted SOFR; C = one-month CDOR; E = Euro Interbank Offered Rate (EURIBOR); SONIA = Adjusted Sterling Overnight Interbank Average Rate; BBSW = Bank Bill Swap Rate; BKBM = Bank Bill Reference Rate. We have elected Daily SOFR for the entirety of our U.S. dollar denominated borrowings shown above, which includes an adjustment of 0.1%, in addition to the margin. Our British pound sterling borrowings bear interest tied to adjusted SONIA, which includes an adjustment of less than 0.1% in addition to our margin. Refer to Note 9 - Segment Information of the Consolidated Financial Statements in the Company’s 2023 Annual Report on Form 10-K as filed with the SEC for further details of our outstanding indebtedness. As of March 31, 2024, we were in compliance with all debt covenants.

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- 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://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I + Details
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