Long-Term Debt

6 Months Ended

Jun. 30, 2020

Long-Term Debt

Long-Term Debt

6. Long-Term Debt

	June 30, 2020
			Net unamortized
			discount,
			premium and
			debt issuance		Carrying
	Principal		costs		amount
		(in millions)
3.3% notes payable, due 2022	$	300.0	$	(0.9)	$	299.1
3.125% notes payable, due 2023		300.0		(0.8)		299.2
3.4% notes payable, due 2025		400.0		(2.4)		397.6
3.1% notes payable, due 2026		350.0		(2.2)		347.8
3.7% notes payable, due 2029		500.0		(5.8)		494.2
2.125% notes payable, due 2030		500.0		(6.9)		493.1
6.05% notes payable, due 2036		505.6		(2.5)		503.1
4.625% notes payable, due 2042		300.0		(3.2)		296.8
4.35% notes payable, due 2043		300.0		(3.1)		296.9
4.3% notes payable, due 2046		300.0		(3.3)		296.7
4.7% notes payable, due 2055		400.0		(4.9)		395.1
Non-recourse mortgages and notes payable		42.7		1.1		43.8
Total long-term debt	$	4,198.3	$	(34.9)	$	4,163.4

	December 31, 2019
			Net unamortized
			discount,
			premium and
			debt issuance		Carrying
	Principal		costs		amount
		(in millions)
3.3% notes payable, due 2022	$	300.0	$	(1.0)	$	299.0
3.125% notes payable, due 2023		300.0		(1.0)		299.0
3.4% notes payable, due 2025		400.0		(2.6)		397.4
3.1% notes payable, due 2026		350.0		(2.5)		347.5
3.7% notes payable, due 2029		500.0		(6.1)		493.9
6.05% notes payable, due 2036		505.6		(2.4)		503.2
4.625% notes payable, due 2042		300.0		(3.2)		296.8
4.35% notes payable, due 2043		300.0		(3.3)		296.7
4.3% notes payable, due 2046		300.0		(3.3)		296.7
4.7% notes payable, due 2055		400.0		(4.9)		395.1
Non-recourse mortgages and notes payable		107.6		1.2		108.8
Total long-term debt	$	3,763.2	$	(29.1)	$	3,734.1

Net discount, premium and issuance costs associated with issuing these notes are amortized to expense over the respective terms using the interest method.

On June 12, 2020, we issued $500.0 million of senior notes. The notes bear interest at 2.125% and will mature in 2030. Interest on the notes is payable semi-annually on June 15 and December 15 each year, beginning on December 15, 2020. The proceeds from these notes were used for general corporate purposes.