Indebtedness and Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Indebtedness and Derivative Financial Instruments

Schedule of mortgages and unsecured indebtedness

	2015		2014
Fixed-Rate Debt:
Mortgage notes, including $44,594 and $49,723 net premiums, respectively. Weighted average interest and maturity of 5.12% and 4.6 years at December 31, 2015.	$	5,985,427	$	5,615,351
Unsecured notes, including $44,698 and $40,701 net discounts, respectively. Weighted average interest and maturity of 3.93% and 7.3 years at December 31, 2015.		13,530,427		13,399,920
Commercial Paper (see below)		878,657		409,185
Total Fixed-Rate Debt		20,394,511		19,424,456
Variable-Rate Debt:
Mortgages notes, at face value. Weighted average interest and maturity of 2.29% and 1.3 years at December 31, 2015.		630,000		630,000
Unsecured Term Loan (see below)		240,000		240,000
Credit Facility (see below)		1,237,662		558,537
Total Variable-Rate Debt		2,107,662		1,428,537
Total Mortgages and Unsecured Indebtedness	$	22,502,173	$	20,852,993

Schedule of principal repayments of indebtedness

            Our scheduled principal repayments on indebtedness as of December 31, 2015 are as follows:

2016	$	2,928,580
2017		3,043,067
2018		1,024,275
2019		2,607,519
2020		3,159,632
Thereafter		9,739,204
Total principal maturities		22,502,277
Net unamortized debt discount		(104	)
Total mortgages and unsecured indebtedness	$	22,502,173

Schedule of cash paid for interest in each period, net of any amounts capitalized

	For the Year Ended December 31,
	2015		2014		2013
Cash paid for interest	$	943,683	$	1,018,911	$	1,086,128

Schedule of fair value of financial instruments and the related discount rate assumptions

	2015	2014
Fair value of fixed-rate mortgages and unsecured indebtedness (in millions)	$21,331	$20,967
Weighted average discount rates assumed in calculation of fair value for fixed-rate mortgages	3.46%	3.02%
Weighted average discount rates assumed in calculation of fair value for unsecured indebtedness	3.59%	3.51%