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Debt Facilities
 6 Months Ended
Jun. 30, 2021
Debt Disclosure [Abstract]  
Debt Facilities Debt Facilities
Mortgage and Loans Payable
As of June 30, 2021 and December 31, 2020, our mortgage and loans payable consisted of the following (in thousands):
June 30,
2021		December 31, 2020
Term loans$578,084 $1,292,067 
Mortgage payable and loans payable74,761 78,903 
652,845 1,370,970 
Less amount representing unamortized debt discount and debt issuance cost(565)(3,288)
Add amount representing unamortized mortgage premium1,741 1,861 
654,021 1,369,543 
Less current portion(42,580)(82,289)
Total
$611,441 $1,287,254 
Senior Credit Facility
In 2017, we entered into a credit agreement with a group of lenders for a $3.0 billion credit facility ("Senior Credit Facility"), comprised of a $2.0 billion senior unsecured multicurrency revolving credit facility ("Revolving Facility") and an approximately $1.0 billion senior unsecured multicurrency term loan facility (the "Term Loan Facility"). The credit agreement was subsequently amended to provide an additional senior unsecured term loan in Japanese Yen for approximately $424.7 million at the exchange rate effective on the transaction date.
On May 17, 2021, using a portion of the net cash proceeds from the 2026 Notes, 2028 Notes, 2031 Notes, and 2052 Notes as described below, we repaid our outstanding term loans in Swedish Krona and Japanese Yen under our Term Loan Facility for $285.4 million and $374.5 million in U.S. Dollars, respectively, at the exchange rates in effect on May 17, 2021. We incurred an insignificant loss on debt extinguishment for the repayment of both term loans during the three months ended June 30, 2021. As of June 30, 2021 and December 31, 2020, the total amounts outstanding under the Term Loan Facility, net of debt issuance costs, were $577.5 million and $1.3 billion, respectively.
As of June 30, 2021, we had 39 irrevocable letters of credit totaling $78.7 million issued and outstanding under the Revolving Facility, with approximately $1.9 billion remaining available to borrow under the Revolving Facility.
Senior Notes
As of June 30, 2021 and December 31, 2020, our senior notes consisted of the following (in thousands):
June 30, 2021December 31, 2020
AmountEffective RateAmountEffective Rate
5.000% Infomart Senior Notes
$— — %$150,000 4.51 %
2.625% Senior Notes due 2024
1,000,000 2.79 %1,000,000 2.79 %
1.250% Senior Notes due 2025
500,000 1.46 %500,000 1.46 %
1.000% Senior Notes Due 2025
700,000 1.18 %700,000 1.18 %
2.900% Senior Notes due 2026
600,000 3.04 %600,000 3.04 %
2.875% Euro Senior Notes due 2026
— — %611,050 3.04 %
1.450% Senior Notes due 2026
700,000 1.64 %— — %
0.250% Euro Senior Notes due 2027
592,500 0.45 %— — %
1.800% Senior Notes due 2027
500,000 1.96 %500,000 1.96 %
5.375% Senior Notes due 2027
— — %1,250,000 5.51 %
1.550% Senior Notes due 2028
650,000 1.67 %650,000 1.67 %
2.000% Senior Notes due 2028
400,000 2.21 %— — %
3.200% Senior Notes due 2029
1,200,000 3.30 %1,200,000 3.30 %
2.150% Senior Notes due 2030
1,100,000 2.27 %1,100,000 2.27 %
2.500% Senior Notes due 2031
1,000,000 2.65 %— — %
1.000% Euro Senior Notes due 2033
711,000 1.18 %— — %
3.000% Senior Notes due 2050
500,000 3.09 %500,000 3.09 %
2.950% Senior Notes due 2051
500,000 3.00 %500,000 3.00 %
3.400% Senior Notes due 2052
500,000 3.50 %— — %
11,153,500 9,261,050 
Less amount representing unamortized debt issuance cost (126,257)(92,773)
Add amount representing unamortized debt premium— 186 
11,027,243 9,168,463 
Less current portion— (150,186)
Total
$11,027,243 $9,018,277 
0.250% Euro Senior Notes due 2027 and 1.000% Euro Senior Notes due 2033
On March 10, 2021, we issued €500.0 million, or approximately $594.9 million in U.S. dollars, at the exchange rate in effect on March 10, 2021, aggregate principal amount of 0.250% senior notes due March 15, 2027 (the "2027 Euro Notes") and €600.0 million, or approximately $713.8 million in U.S. dollars, at the exchange rate in effect on March 10, 2021, aggregate principal amount of 1.000% senior notes due March 15, 2033 (the "2033 Euro Notes").
Interest on the notes is payable annually in arrears on March 15 of each year, commencing on March 15, 2022. Total debt issuance costs and debt discounts related to the 2027 Euro Notes and the 2033 Euro Notes were $7.0 million and $14.1 million, respectively.
Redemption of 2.875% Euro Senior Notes due 2026
On March 24, 2021, using a portion of the net cash proceeds from the 2027 Euro Senior Notes and 2033 Euro Senior Notes, we redeemed the remaining outstanding 2.875% Euro Senior Notes due 2026 for $590.7 million in U.S. dollars, at the exchange rate in effect on March 24, 2021. In connection with the redemption, we incurred $13.2 million of loss on debt extinguishment, including $8.5 million in redemption premium that was paid in cash and $4.7 million related to the write-off of unamortized debt issuance costs, during the three months ended March 31, 2021.
1.450% Senior Notes due 2026, 2.000% Senior Notes due 2028, 2.500% Senior Notes due 2031 and 3.400% Senior Notes due 2052
On May 17, 2021, we issued $700.0 million aggregate principal amount of 1.450% senior notes due 2026 (the "2026 Notes"), $400.0 million aggregate principal amount of 2.000% senior notes due 2028 (the "2028 Notes"), $1.0 billion aggregate principal amount of 2.500% senior notes due 2031 (the "2031 Notes"), and $500.0 million aggregate principal amount of 3.400% senior notes due 2052 (the "2052 Notes").
Interest on the 2026, 2028 and 2031 notes are payable semi-annually on May 15 and November 15 of each year, commencing on November 15, 2021. Interest on the 2052 notes are payable semi-annually on February 15 and August 15 of each year, commencing on February 15, 2022. Total debt issuance costs and debt discounts related to the 2026 Notes, 2028 Notes, 2031 Notes and 2052 Notes were $6.4 million, $5.3 million, $13.0 million and $9.3 million, respectively.
Redemption of 5.375% Senior Notes due 2027
On June 2, 2021, we redeemed all outstanding principal amount under the 5.375% Senior Notes due 2027 with a portion of the net cash proceeds from the issuance of the 2026 Notes, 2028 Notes, 2031 Notes, and 2052 Notes as described above. In connection with the redemption, we incurred $100.6 million of loss on debt extinguishment, including $90.7 million redemption premium that was paid in cash and $9.9 million related to the write-off of unamortized debt issuance costs.
Maturities of Debt Instruments
The following table sets forth maturities of our debt, including mortgage and loans payable, and senior notes, gross of debt issuance costs, debt discounts and debt premiums, as of June 30, 2021 (in thousands):
Years ending:
2021 (6 months remaining)$21,357 
2022595,170 
20236,832 
20241,006,379 
20251,204,769 
Thereafter8,973,579 
Total$11,808,086 
Fair Value of Debt Instruments
The following table sets forth the estimated fair values of our mortgage and loans payable and senior notes, including current maturities, as of (in thousands):
June 30,
2021		December 31,
2020
Mortgage and loans payable$657,921 $1,379,129 
Senior notes11,301,438 9,705,486 
The fair values of the mortgage and loans payable, which are not publicly traded, were estimated by considering our credit rating, current rates available to us for debt of the same remaining maturities and terms of the debt (Level 2). The fair value of the senior notes, which are traded in the public debt market, was based on quoted market prices (Level 1).
Interest Charges
The following table sets forth total interest costs incurred, and total interest costs capitalized for the periods presented (in thousands):
 Three Months Ended
June 30,		Six Months Ended
June 30,
 2021202020212020
Interest expense$87,231 $108,480 $176,912 $215,818 
Interest capitalized6,684 6,880 12,792 12,911 
Interest charges incurred$93,915 $115,360 $189,704 $228,729 
Total interest paid in cash, net of capitalized interest, during the three months ended June 30, 2021 and 2020 was $122.0 million and $115.8 million, respectively. Total interest paid in cash, net of capitalized interest, during the six months ended June 30, 2021 and 2020 was $216.9 million and $238.6 million, respectively.