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Unsecured Lines of Credit Payable (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of Revolving Credit Facilities

The amount of the Revolving Credit Facility unused and available at December 31, 2023 was as follows (in thousands):

Committed capacity			$	700,000
Borrowings outstanding			(157,000)
Unused and available			$	543,000

We executed borrowings and repayments on the Revolving Credit Facility during 2023 as follows (in thousands):

Balance, December 31, 2022			$	55,000
Borrowings			322,000
Repayments			(220,000)
Balance, December 31, 2023			$	157,000

For the three years ended December 31, 2023, we recognized interest expense (excluding facility fees) and facility fees as follows (in thousands):

			Year Ended December 31,
			2023						2022						2021
Interest expense (excluding facility fees)			$	4,419					$	912					$	390
Facility fees			1,454						1,454						1,419

Information related to revolving credit facilities for the three years ended December 31, 2023 as follows (in thousands, except percentage amounts):

			Year Ended December 31,
			2023						2022						2021
Total revolving credit facilities at December 31			$	700,000					$	700,000					$	700,000
Borrowings outstanding at December 31			157,000						55,000						—
Weighted average daily borrowings during the year			70,578						21,636						34,803
Maximum daily borrowings during the year			164,000						67,000						79,000
Weighted average interest rate during the year			6.17		%				4.22		%				1.12		%
Weighted average interest rate on borrowings outstanding at December 31			6.26		%				5.20		%				—		%

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- References

No definition available.

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- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19(b),22(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

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