Fair Value of Instruments (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value of Financial Instruments

Estimated Fair Value And Carrying Amounts

The aggregate estimated fair value and carrying value of our global revolving credit facilities, unsecured term loans, unsecured senior notes and secured debt as of the respective periods is shown below (in thousands):

	Categorization	As of December 31, 2021				As of December 31, 2020
	under the fair value	Estimated Fair				Estimated Fair
	hierarchy	Value		Carrying Value		Value		Carrying Value
Global revolving credit facilities	Level 2	$	415,116	$	415,116	$	540,184	$	540,184
Unsecured term loans	Level 2		—		—		537,470		537,470
Unsecured senior notes (1)	Level 2		13,580,262		13,000,042		13,359,960		12,096,029
Secured and other debt (1)	Level 2		152,511		147,082		242,051		239,326
		$	14,147,889	$	13,562,240	$	14,679,665	$	13,413,009

(1) Valuations for our unsecured senior notes and secured debt are determined based on the expected future payments discounted at risk-adjusted rates and quoted market prices.