Debt (Tables)

12 Months Ended

Dec. 31, 2021

Indebtedness

Schedule of mortgages and unsecured indebtedness

	2021		2020
Fixed-Rate Debt:
Mortgage notes, including $2,892 and $3,348 of net premiums and $14,619 and $15,237 of debt issuance costs, respectively. Weighted average interest and maturity of 3.61% and 4.3 years at December 31, 2021.	$	4,546,614	$	5,803,718
Unsecured notes, including $30,964 and $22,470 of net discounts and $83,147 and $74,622 of debt issuance costs, respectively. Weighted average interest and maturity of 2.93% and 9.6 years at December 31, 2021.		18,254,507		16,985,990
Commercial Paper (see below)		500,000		623,020
Total Fixed-Rate Debt		23,301,121		23,412,728
Variable-Rate Debt:
Mortgage notes, including $4,354 and $7,102 of debt issuance costs, respectively. Weighted average interest and maturity of 1.70% and 1.6 years at December 31, 2021.		803,495		1,137,034
Credit Facilities (see below), including $22,039 and $16,171 of debt issuance costs, respectively.		1,152,961		2,108,829
Total Variable-Rate Debt		1,956,456		3,245,863
Other Debt Obligations		63,445		64,770
Total Mortgages and Unsecured Indebtedness	$	25,321,022	$	26,723,361

Schedule of principal repayments of indebtedness

Our scheduled principal repayments on indebtedness as of December 31, 2021, assuming the obligations remain outstanding through the initial maturities, are as follows:

2022	$	1,898,889	(1)
2023		1,230,712
2024		2,828,818
2025		2,669,547
2026		3,920,142
Thereafter		12,861,700
Total principal maturities		25,409,808
Net unamortized debt premium		28,055
Net unamortized debt discount		(56,127)
Debt issuance costs, net		(124,159)
Other Debt Obligations		63,445
Total mortgages and unsecured indebtedness	$	25,321,022

(1) Includes $500.0 million in Global Commercial Paper.

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

	For the Year Ended December 31,
	2021		2020		2019
Cash paid for interest	$	822,182	$	754,306	$	803,728

Schedule of debt issuance costs

	2021		2020
Debt issuance costs	$	227,774	$	202,859
Accumulated amortization		(103,615)		(89,727)
Debt issuance costs, net	$	124,159	$	113,132

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

		For the Year Ended December 31,
	2021		2020		2019
Amortization of debt issuance costs	$	24,794	$	23,076	$	21,499
Amortization of debt discounts/(premiums)		168		174		1,571

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

	December 31,			December 31,
	2021			2020
Fair value of consolidated fixed rate mortgages and unsecured indebtedness (in millions)	$	24,597		$	25,327
Weighted average discount rates assumed in calculation of fair value for fixed rate mortgages		3.17	%		2.41	%
Weighted average discount rates assumed in calculation of fair value for unsecured indebtedness		3.33	%		2.63	%