Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2021

Commitments and Contingencies Disclosure [Abstract]

Schedule of Principal Contractual Obligations

Our contractual principal debt repayments as of September 30, 2021 were as follows ($ in thousands):

	Secured		Asset-Specific		Term		Convertible
Year	Debt(1)		Debt(1)		Loans(2)		Notes(3)		Total(4)
2021 (remainder of the year)	$	130,668	$	—	$	3,436	$	—	$	134,104
2022		228,030		—		13,738		402,500		644,268
2023		1,834,836		149,896		13,738		220,000		2,218,470
2024		3,937,001		—		13,738		—		3,950,739
2025		1,231,023		178,172		13,738		—		1,422,933
2026		3,725,205		—		1,294,318		—		5,019,523
Thereafter		102,092		—		—		—		102,092
Total obligation	$	11,188,855	$	328,068	$	1,352,706	$	622,500	$	13,492,129

(1) The allocation of repayments under our secured debt and asset-specific debt is based on the earlier of (i) the maturity date of each agreement, or (ii) the maximum maturity date of the collateral loans, assuming all extension options are exercised by the borrower.

(2) The Term Loans are partially amortizing, with an amount equal to 1.0% per annum of the principal balance due in quarterly installments. Refer to Note 8 for further details on our term loans.

(3) Reflects the outstanding principal balance of Convertible Notes, excluding any potential conversion premium. Refer to Note 9 for further details on our Convertible Notes.

(4) Total does not include $2.9 billion of consolidated securitized debt obligations, $997.6 million of non-consolidated senior interests, and $414.1 million of non-consolidated securitized debt obligations, as the satisfaction of these liabilities will not require cash outlays from us.