XML 55 R40.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Unsecured and Secured Indebtedness (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Debt Disclosure [Abstract] |
Summary of Unsecured and Secured Indebtedness | The following table discloses certain information regarding the Company’s unsecured and secured indebtedness (in millions):
|  | Carrying Value at December 31, |  |  | Interest Rate(A) at December 31, |  |  | Maturity Date at
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017 |  |  | December 31, 2018
Unsecured indebtedness: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Senior notes(B) |  | $ | 1,660.0 |  |  | $ | 2,832.2 |  |  | 3.375%–4.700% |  |  | 3.375%–7.500% |  |  | July 2022– June 2027
Senior notes – discount, net |  |  | (4.3 | ) |  |  | (5.1 | ) |  |  |  |  |  |  |  |  |  |
Net unamortized debt issuance costs |  |  | (9.7 | ) |  |  | (17.0 | ) |  |  |  |  |  |  |  |  |  |
Total Senior Notes |  | $ | 1,646.0 |  |  | $ | 2,810.1 |  |  |  |  |  |  |  |  |  |  |
Unsecured Term Loan |  | $ | 50.0 |  |  | $ | 400.0 |  |  | 3.9% |  |  | 2.9% |  |  | January 2023
Net unamortized debt issuance costs |  |  | (0.3 | ) |  |  | (1.9 | ) |  |  |  |  |  |  |  |  |  |
Total Unsecured Term Loan |  | $ | 49.7 |  |  | $ | 398.1 |  |  |  |  |  |  |  |  |  |  |
Secured indebtedness: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Mortgage indebtedness – Fixed Rate |  | $ | 89.0 |  |  | $ | 643.4 |  |  | 5.9% |  |  | 4.7% |  |  | April 2020– January 2022
Net unamortized debt issuance costs |  |  | (0.3 | ) |  |  | (2.3 | ) |  |  |  |  |  |  |  |  |  |
Total Mortgage Indebtedness |  | $ | 88.7 |  |  | $ | 641.1 |  |  |  |  |  |  |  |  |  |  |
(A) | The interest rates reflected above for the senior notes represent the range of the coupon rate of the notes outstanding. All other interest rates presented are a weighted average of the outstanding debt. Interest rate on variable-rate debt was calculated using the base rate and spreads in effect at December 31, 2018 and 2017.
(B) | Effective interest rates ranged from 3.5% to 4.8% at December 31, 2018.
Schedule Principal Payments | The scheduled principal payments of the Revolving Credit Facilities (Note 8) and unsecured and secured indebtedness, excluding extension options, as of December 31, 2018, are as follows (in thousands):
Year |  | Amount |
2019 |  | $ | 2,372 |
2020 |  |  | 41,684 |
2021 |  |  | 143,412 |
2022 |  |  | 201,366 |
2023 |  |  | 136,977 |
Thereafter |  |  | 1,367,343 |
|  |  | 1,893,154 |
Unamortized fair market value of assumed debt |  |  | 1,546 |
Net unamortized debt issuance costs |  |  | (10,295 | )
Total indebtedness |  | $ | 1,884,405 |

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 Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration