Senior Unsecured Notes and Secured Debt (Tables)

9 Months Ended

Sep. 30, 2017

Senior Unsecured Notes And Secured Debt (Tables) [Abstract]

Principal payments due on debt obligations

	Senior		Secured
	Unsecured Notes(1,2)		Debt (1,3)		Totals
2017	$	-	$	121,412	$	121,412
2018		450,000		426,728		876,728
2019		600,000		491,941		1,091,941
2020(4)		697,327		184,281		881,608
2021(5,6)		1,149,856		221,721		1,371,577
Thereafter(7,8,9,10)		5,507,210		1,273,919		6,781,129
Totals	$	8,404,393	$	2,720,002	$	11,124,395
(1) Amounts represent principal amounts due and do not include unamortized premiums/discounts, debt issuance costs, or other fair value adjustments as reflected on the balance sheet.
(2) Annual interest rates range from 1.9% to 6.5%.
(3) Annual interest rates range from 1.45% to 7.98%. Carrying value of the properties securing the debt totaled $5,766,501,000 at September 30, 2017.
(4) In November 2015, one of our wholly-owned subsidiaries issued and we guaranteed $300,000,000 of Canadian-denominated 3.35% senior unsecured notes due 2020 (approximately $239,827,000 based on the Canadian/U.S. Dollar exchange rate on September 30, 2017).
(5) On May 13, 2016, we refinanced the funding on a $250,000,000 Canadian-denominated unsecured term credit facility (approximately $199,856,000 based on the Canadian/U.S. Dollar exchange rate on September 30, 2017). The loan matures on May 13, 2021 and bears interest at the Canadian Dealer Offered Rate plus 95 basis points (2.30% at September 30, 2017).
(6) On May 13, 2016, we refinanced the funding on a $500,000,000 unsecured term credit facility. The loan matures on May 13, 2021 and bears interest at LIBOR plus 95 basis points (2.19% at September 30, 2017).
(7) On November 20, 2013, we completed the sale of £550,000,000 (approximately $737,110,000 based on the Sterling/U.S. Dollar exchange rate in effect on September 30, 2017) of 4.8% senior unsecured notes due 2028.
(8) On November 25, 2014, we completed the sale of £500,000,000 (approximately $670,100,000 based on the Sterling/U.S. Dollar exchange rate in effect on September 30, 2017) of 4.5% senior unsecured notes due 2034.
(9) In May 2015, we issued $750,000,000 of 4.0% senior unsecured notes due 2025. In October 2015, we issued an additional $500,000,000 of these notes under a re-opening of the offer.
(10) In March 2016, we issued $700,000,000 of 4.25% senior unsecured notes due 2026.

Summary of senior unsecured note activity

	Nine Months Ended
	September 30, 2017			September 30, 2016
			Weighted Avg.			Weighted Avg.
	Amount		Interest Rate	Amount		Interest Rate
Beginning balance	$	8,260,038	4.245%	$	8,645,758	4.237%
Debt issued		7,500	1.940%		705,000	4.228%
Debt extinguished		(5,000)	1.830%		(400,000)	3.625%
Foreign currency		141,855	4.241%		(159,816)	4.443%
Ending balance	$	8,404,393	4.293%	$	8,790,942	4.264%

Secured debt principal activity

	Nine Months Ended
		September 30, 2017		September 30, 2016
			Weighted Avg.			Weighted Avg.
	Amount		Interest Rate	Amount		Interest Rate
Beginning balance	$	3,465,066	4.094%	$	3,478,207	4.440%
Debt issued		190,459	2.730%		193,541	3.053%
Debt assumed		23,094	6.670%		47,156	4.132%
Debt extinguished		(1,003,372)	5.321%		(416,009)	4.986%
Principal payments		(47,507)	4.339%		53,636	3.631%
Foreign currency		92,262	3.196%		(55,889)	4.478%
Ending balance	$	2,720,002	3.735%	$	3,300,642	4.272%