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v3.25.0.1

Debt - Schedule of Existing Covenants and their Covenant Levels (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended
--- | --- | --- | ---
Dec. 31, 2024 | Dec. 31, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | Dec. 31, 2024
Debt Instrument |  |  |  |  |
Total liabilities to total asset value, covenant level (less than or equal to) (as a percent) |  |  |  |  | 0.65
Total liabilities to total asset value, actual performance (as a percent) | 46.50% |  |  |  | 46.50%
Unsecured indebtedness to unencumbered asset value, covenant level (less than or equal to) (as a percent) |  |  |  |  | 0.65
Unsecured indebtedness to unencumbered asset value, actual performance (as a percent) | 41.50% |  |  |  | 41.50%
Adjusted EBITDA to fixed charges, covenant level (greater than or equal to) | 1.4 |  | 1.5 |  | 1.4
Adjusted EBITDA to fixed charges, actual performance |  |  |  |  | 1.7
Secured indebtedness to total asset value, covenant level (less than or equal to) (as a percent) |  |  |  |  | 0.45
Secured indebtedness to total asset value, actual performance (as a percent) |  |  |  |  | 20.10%
Unencumbered net operating income to unsecured interest expense, covenant level (greater than or equal to) | 1.75 |  | 2.0 |  | 1.75
Unencumbered net operating income to unsecured interest expense, actual performance |  |  |  |  | 2.2
Total leverage and unsecured leverage threshold (as a percent) |  | 65.00% |  | 60.00% |
Debt to total assets, covenant level (less than or equal to) (as a percent) |  |  |  |  | 60.00%
Debt to total assets, actual performance (as a percent) |  |  |  |  | 45.00%
Total unencumbered assets to unsecured debt, covenant level (greater than or equal to) (as a percent) |  |  |  |  | 150.00%
Total unencumbered assets to unsecured debt, actual performance (as a percent) |  |  |  |  | 255.00%
Consolidated income available for debt service to annual debt service charge, covenant level (greater than or equal to) |  |  |  |  | 1.5
Consolidated income available for debt service to annual debt service charge, actual performance |  |  |  |  | 1.7
Secured debt to total assets, covenant level (less than or equal to) (as a percent) |  |  |  |  | 45.00%
Secured debt to total assets, actual performance (as a percent) |  |  |  |  | 19.40%
Private Placement Notes |  |  |  |  |
Debt Instrument |  |  |  |  |
Total liabilities to total asset value, covenant level (less than or equal to) (as a percent) |  |  |  |  | 0.60
Total liabilities to total asset value, actual performance (as a percent) | 54.60% |  |  |  | 54.60%
Unsecured indebtedness to unencumbered asset value, covenant level (less than or equal to) (as a percent) |  |  |  |  | 0.65
Unsecured indebtedness to unencumbered asset value, actual performance (as a percent) | 58.80% |  |  |  | 58.80%
Adjusted EBITDA to fixed charges, covenant level (greater than or equal to) |  |  |  |  | 1.5
Adjusted EBITDA to fixed charges, actual performance |  |  |  |  | 1.7
Secured indebtedness to total asset value, covenant level (less than or equal to) (as a percent) |  |  |  |  | 0.45
Secured indebtedness to total asset value, actual performance (as a percent) |  |  |  |  | 23.60%
Unencumbered net operating income to unsecured interest expense, covenant level (greater than or equal to) |  |  |  |  | 2.0
Unencumbered net operating income to unsecured interest expense, actual performance |  |  |  |  | 2.2
Total leverage and unsecured leverage threshold (as a percent) |  | 65.00% |  | 60.00% |
3.25% Registered senior notes | Unsecured Debt |  |  |  |  |
Debt Instrument |  |  |  |  |
Interest rate (as a percent) | 3.25% |  |  |  | 3.25%
3.95% Registered senior notes | Unsecured Debt |  |  |  |  |
Debt Instrument |  |  |  |  |
Interest rate (as a percent) | 3.95% |  |  |  | 3.95%
4.65% Registered senior notes | Unsecured Debt |  |  |  |  |
Debt Instrument |  |  |  |  |
Interest rate (as a percent) | 4.65% |  |  |  | 4.65%
5.95% Registered senior notes | Unsecured Debt |  |  |  |  |
Debt Instrument |  |  |  |  |
Interest rate (as a percent) | 5.95% |  |  |  | 5.95%

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