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Debt (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Senior Unsecured Credit Facility
The following table presents a summary of our Senior Unsecured Credit Facility (dollars in thousands):
Senior Unsecured Credit Facility
Interest Rate at
March 31, 2024 (a)
Maturity Date at March 31, 2024
Principal Outstanding Balance at
March 31, 2024December 31, 2023
Unsecured Term Loans: (b)
Unsecured Term Loan due 2026 — borrowing in euros (c)
4.34%
4/24/2026$540,550 $552,500 
GBP Term Loan due 2028 — borrowing in British pounds sterling (d)
SONIA + 0.85%
2/14/2028341,360 343,306 
EUR Term Loan due 2028 — borrowing in euros (e)
EURIBOR + 0.85%
2/14/2028232,437 237,575 
1,114,347 1,133,381 
Unsecured Revolving Credit Facility:
Borrowing in euros (e)
EURIBOR + 0.775%
2/14/2029275,681 386,750 
Borrowing in Japanese yen (f)
TIBOR + 0.775%
2/14/202915,940 17,035 
291,621 403,785 


$1,405,968 $1,537,166 
__________
(a)The applicable interest rate at March 31, 2024 was based on the credit ratings for our Senior Unsecured Notes of BBB+/Baa1.
(b)Balance excludes unamortized discount of $6.8 million and $7.4 million at March 31, 2024 and December 31, 2023, respectively, and unamortized deferred financing costs of $0.3 million and $0.4 million at March 31, 2024 and December 31, 2023, respectively.
(c)Interest rate is subject to variable-to-fixed interest rate swaps that fix the total per annum interest rate at 4.34% through December 31, 2024.
(d)SONIA means Sterling Overnight Index Average.
(e)EURIBOR means Euro Interbank Offered Rate.
(f)TIBOR means Tokyo Interbank Offered Rate.
Schedule of Senior Unsecured Notes The following table presents a summary of our Senior Unsecured Notes outstanding at March 31, 2024 (currency in thousands):
Principal AmountCoupon RateMaturity DatePrincipal Outstanding Balance at
Senior Unsecured Notes, net (a)
Issue DateMarch 31, 2024December 31, 2023
4.6% Senior Notes due 2024 (b)
3/14/2014$500,000 4.6 %4/1/2024$500,000 $500,000 
2.25% Senior Notes due 2024
1/19/2017€500,000 2.25 %7/19/2024540,550 552,500 
4.0% Senior Notes due 2025
1/26/2015$450,000 4.0 %2/1/2025450,000 450,000 
2.25% Senior Notes due 2026
10/9/2018€500,000 2.25 %4/9/2026540,550 552,500 
4.25% Senior Notes due 2026
9/12/2016$350,000 4.25 %10/1/2026350,000 350,000 
2.125% Senior Notes due 2027
3/6/2018€500,000 2.125 %4/15/2027540,550 552,500 
1.35% Senior Notes due 2028
9/19/2019€500,000 1.35 %4/15/2028540,550 552,500 
3.85% Senior Notes due 2029
6/14/2019$325,000 3.85 %7/15/2029325,000 325,000 
3.41% Senior Notes due 2029
9/28/2022€150,000 3.41 %9/28/2029162,165 165,750 
0.95% Senior Notes due 2030
3/8/2021€525,000 0.95 %6/1/2030567,577 580,125 
2.4% Senior Notes due 2031
10/14/2020$500,000 2.4 %2/1/2031500,000 500,000 
2.45% Senior Notes due 2032
10/15/2021$350,000 2.45 %2/1/2032350,000 350,000 
3.7% Senior Notes due 2032
9/28/2022€200,000 3.7 %9/28/2032216,220 221,000 
2.25% Senior Notes due 2033
2/25/2021$425,000 2.25 %4/1/2033425,000 425,000 
$6,008,162 $6,076,875 
__________
(a)Aggregate balance excludes unamortized deferred financing costs totaling $19.7 million and $21.1 million, and unamortized discount totaling $18.8 million and $20.1 million, at March 31, 2024 and December 31, 2023, respectively.
(b)In April 2024, we repaid our $500 million of 4.6% Senior Notes due 2024 at maturity (Note 15).
Scheduled Debt Principal Payments
Scheduled debt principal payments as of March 31, 2024 are as follows (in thousands):
Years Ending December 31, Total
2024 (remainder) (a)
$1,164,157 
2025704,699 
20261,525,222 
2027542,493 
20281,144,040 
Thereafter through 20342,841,679 
Total principal payments7,922,290 
Unamortized discount, net(29,033)
Unamortized deferred financing costs(20,042)
Total$7,873,215 
__________
(a)In April 2024, we repaid our $500 million of 4.6% Senior Notes due 2024 at maturity (Note 15).