Debt (Tables) |
12 Months Ended |
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Dec. 31, 2021 | |
Debt [Abstract] | |
Schedule of Principal Values, Fair Values, and Carrying Values of Debt | As of As of December 31, 2021 December 31, 2020 Maturity Date Principal Balance Fair Value Carrying Value Principal Balance Fair Value Carrying ValueRevolving Credit Facility Jul. 7, 2026 $ 350,000 $ 350,000 $ 350,000 $ 380,000 $ 380,000 $ 380,000 2018 Term Loan Apr. 11, 2025 2,316,000 2,289,945 2,304,697 2,340,000 2,310,750 2,325,391 2013-2C Tower Securities (1) Apr. 11, 2023 — — — 575,000 599,662 572,063 2014-2C Tower Securities (1) Oct. 8, 2024 620,000 641,793 617,095 620,000 670,003 616,131 2017-1C Tower Securities (1) Apr. 11, 2022 — — — 760,000 774,410 757,165 2018-1C Tower Securities (1) Mar. 9, 2023 640,000 650,163 637,812 640,000 671,341 636,045 2019-1C Tower Securities (1) Jan. 12, 2025 1,165,000 1,174,728 1,157,446 1,165,000 1,218,613 1,155,106 2020-1C Tower Securities (1) Jan. 9, 2026 750,000 746,498 744,052 750,000 752,910 742,782 2020-2C Tower Securities (1) Jan. 11, 2028 600,000 605,268 594,774 600,000 597,840 594,081 2021-1C Tower Securities (1) Nov. 9, 2026 1,165,000 1,144,846 1,153,700 — — —2021-2C Tower Securities (1) Apr. 9, 2027 895,000 883,213 886,116 — — —2021-3C Tower Securities (1) Oct. 9, 2031 895,000 902,446 885,976 — — —2016 Senior Notes Sep. 1, 2024 — — — 1,100,000 1,127,500 1,088,924 2017 Senior Notes Oct. 1, 2022 — — — 750,000 757,500 746,642 2020 Senior Notes Feb. 15, 2027 1,500,000 1,550,790 1,484,178 1,500,000 1,567,500 1,481,466 2021 Senior Notes Feb. 1, 2029 1,500,000 1,446,975 1,486,848 — — —Total debt $ 12,396,000 $ 12,386,665 $ 12,302,694 $ 11,180,000 $ 11,428,029 $ 11,095,796 Less: current maturities of long-term debt (24,000) (24,000)Total long-term debt, net of current maturities $ 12,278,694 $ 11,071,796 (1)The maturity date represents the anticipated repayment date for each issuance. |
Schedule of Future Principal Payment Obligations | For the year ended December 31, (in thousands)2022 $ 24,0002023 664,0002024 644,0002025 3,409,0002026 2,265,000 |
Schedule of Cash and Non-Cash Interest Expense | For the year ended December 31, Interest 2021 2020 2019 Rates as of Cash Non-cash Cash Non-cash Cash Non-cash December 31, 2021 Interest Interest Interest Interest Interest Interest (in thousands)Revolving Credit Facility 1.516% $ 6,414 $ — $ 6,070 $ — $ 7,085 $ —2018 Term Loan (1) 1.872% 44,342 45,756 68,963 23,452 105,021 1,338 2013-2C Tower Securities 3.722% 17,027 — 21,584 — 21,584 —2014 Tower Securities (2) 3.869% 24,185 — 24,185 — 43,055 —2015-1C Tower Securities 3.156% — — 8,589 — 15,939 —2016-1C Tower Securities 2.877% — — 10,972 — 20,361 —2017-1C Tower Securities 3.168% 9,201 — 24,354 — 24,354 —2018-1C Tower Securities 3.448% 22,281 — 22,281 — 22,281 —2019-1C Tower Securities 2.836% 33,428 — 33,428 — 10,029 —2020-1C Tower Securities 1.884% 14,391 — 6,675 — — —2020-2C Tower Securities 2.328% 14,159 — 6,568 — — —2021-1C Tower Securities 1.631% 12,255 — — — — —2021-2C Tower Securities 1.840% 2,982 — — — — —2021-3C Tower Securities 2.593% 4,176 — — — — —2014 Senior Notes 4.875% — — 3,352 112 36,563 800 2016 Senior Notes 4.875% 44,092 990 53,625 1,109 53,625 1,055 2017 Senior Notes 4.000% 2,333 — 30,000 — 30,000 —2020 Senior Notes 3.875% 58,125 339 46,769 197 — —2021 Senior Notes 3.125% 43,229 — — — — —Capitalized interest and other 299 — 459 — 139 —Total $ 352,919 $ 47,085 $ 367,874 $ 24,870 $ 390,036 $ 3,193 (1)The 2018 Term Loan has a blended rate of 1.872% which includes the impact of the interest rate swap entered into on August 4, 2020 which swapped $1.95 billion of notional value accruing interest at one month LIBOR plus 175 basis points for a fixed rate of 1.874% per annum through the maturity date of the 2018 Term Loan. Excluding the impact of the interest rate swap, the 2018 Term Loan was accruing interest at 1.860% as of December 31, 2021. Refer to Note 21 for more information on the Company’s interest rate swap.(2)The 2014-1C Tower Securities, which was repaid September 13, 2019, accrued interest at 2.898%. The 2014-2C Tower Securities accrue interest at 3.869%. |