Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule Of Debt

Our debt consists of the following (in thousands):

	September 30,		December 31,
	2020		2019
Debt payable, net to 2038 (1)	$	1,651,050	$	1,653,154
Debt service guaranty liability		57,380		57,380
Finance lease obligation		21,723		21,804
Total	$	1,730,153	$	1,732,338

(1) At both September 30, 2020 and December 31, 2019, interest rates ranged from 3.3% to 7.0% at a weighted average rate of 3.9% for both periods.

Grouping Of Debt Between Fixed And Variable As Well As Secured And Unsecured

	September 30,		December 31,
	2020		2019
As to interest rate (including the effects of interest rate contracts):
Fixed-rate debt	$	1,730,153	$	1,714,890
Variable-rate debt		—		17,448
Total	$	1,730,153	$	1,732,338
As to collateralization:
Unsecured debt	$	1,452,167	$	1,450,762
Secured debt		277,986		281,576
Total	$	1,730,153	$	1,732,338

Schedule Of Credit Facilities

The following table discloses certain information regarding our unsecured notes payable under our credit facilities (in thousands, except percentages):

	September 30,			December 31,
	2020			2019
Unsecured revolving credit facility:
Balance outstanding	$	—		$	—
Available balance		498,068			497,946
Letters of credit outstanding under facility		1,932			2,054
Variable interest rate (excluding facility fee)		—	%		—	%
Unsecured short-term facility:
Balance outstanding	$	—		$	—
Variable interest rate (excluding facility fee)		—	%		—	%
Both facilities:
Maximum balance outstanding during the period (1)	$	497,000		$	5,000
Weighted average balance		98,095			123
Year-to-date weighted average interest rate (excluding facility fee)		1.0	%		3.3	%

(1) At March 31, 2020, we drew down the available balance of our unsecured revolving credit facility to increase liquidity and preserve financial flexibility in light of the uncertainty regarding the COVID-19 pandemic on the markets at that time, which we subsequently repaid due to the stability of the financial markets.

Principal Payments Of Debt

Scheduled principal payments on our debt (excluding $21.7 million of a finance lease obligation, $(3.3) million net premium/(discount) on debt, $(4.8) million of deferred debt costs, $1.7 million of non-cash debt-related items, and $57.4 million debt service guaranty liability) are due during the following years (in thousands):

2020 remaining	$	1,435
2021		18,795
2022		308,298
2023		348,207
2024		252,561
2025		294,232
2026		277,733
2027		53,604
2028		92,159
2029		917
Thereafter		9,518
Total	$	1,657,459