Indebtedness and Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Indebtedness and Derivative Financial Instruments

Schedule of mortgages and unsecured indebtedness

	2016		2015
Fixed-Rate Debt:
Mortgage notes, including $21,916 and $44,594 net premiums and $15,965 and $11,225 debt issuance costs respectively. Weighted average interest and maturity of 4.15% and 7.0 years at December 31, 2016.	$	5,876,831	$	5,974,202
Unsecured notes, including $46,426 and $44,698 net discounts and $65,801 and $52,749 debt issuance costs, respectively. Weighted average interest and maturity of 3.37% and 8.2 years at December 31, 2016.		15,252,834		13,477,678
Commercial Paper (see below)		953,665		878,657
Total Fixed-Rate Debt		22,083,330		20,330,537
Variable-Rate Debt:
Mortgages notes, including $690 and $913 debt issuance costs respectively. Weighted average interest and maturity of 2.10% and 2.8 years at December 31, 2016.		592,655		629,087
Unsecured Term Loan (see below), including $0 and $46 debt issuance costs respectively at December 31, 2016.		—		239,954
Credit Facility (see below), including $15,380 and $20,558 debt issuance costs respectively at December 31, 2016.		301,119		1,217,104
Total Variable-Rate Debt		893,774		2,086,145
Total Mortgages and Unsecured Indebtedness	$	22,977,104	$	22,416,682

Schedule of principal repayments of indebtedness

Our scheduled principal repayments on indebtedness as of December 31, 2016 are as follows:

2017	$	2,233,249
2018		802,806
2019		742,323
2020		3,563,396
2021		2,740,755
Thereafter		13,016,921
Total principal maturities		23,099,450
Net unamortized debt discount		(24,510)
Debt issuance costs, net		(97,836)
Total mortgages and unsecured indebtedness	$	22,977,104

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

	For the Year Ended December 31,
	2016		2015		2014
Cash paid for interest	$	887,118	$	943,683	$	1,018,911

Schedule of debt issuance costs

	2016		2015
Debt issuance costs	$	166,041	$	137,876
Accumulated amortization		(68,205)		(52,385)
Debt issuance costs, net	$	97,836	$	85,491

Schedule of amortization from continuing operations, included in statements of operations and comprehensive income

		For the Year Ended December 31,
	2016		2015		2014
Amortization of debt issuance costs	$	21,703	$	19,349	$	21,392
Amortization of debt premiums, net discounts		(14,583)		(16,107)		(24,092)

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

	2016			2015
Fair value of fixed-rate mortgages and unsecured indebtedness	$	22,703		$	21,331
Weighted average discount rates assumed in calculation of fair value for fixed-rate mortgages		4.12	%		3.46	%
Weighted average discount rates assumed in calculation of fair value for unsecured indebtedness		3.83	%		3.59	%