Debt (Tables)

9 Months Ended

Sep. 30, 2021

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Debt consist of the following (in thousands):

	Interest Rate (1)	Maturities Through	Quarter Ended September 30, 2021		Year Ended December 31, 2020
Fixed rate debt:
Unsecured senior notes	3.70% to 9.13%	2022 - 2028	$	5,608,385	$	2,464,994
Secured senior notes	10.88% to 11.50%	2023 - 2025	2,350,270		3,895,166
Unsecured term loans	2.53% to 5.41%	2021 - 2033	2,938,196		3,210,161
Convertible notes	2.88% to 4.25%	2023	1,532,707		1,454,488
Total fixed rate debt			12,429,558		11,024,809
Variable rate debt:
Unsecured revolving credit facilities (2)	1.43% to 1.83%	2022 - 2024	2,919,342		3,289,000
Unsecured UK Commercial paper	—	2021	—		409,319
USD unsecured term loan	0.59% to 3.33%	2021 - 2033	4,953,628		4,002,249
Euro unsecured term loan	1.15% to 2.25%	2021 - 2028	698,655		705,064
Total variable rate debt			8,571,625		8,405,632
Finance lease liabilities			197,407		213,365
Total debt (3)			21,198,590		19,643,806
Less: unamortized debt issuance costs			(359,087)		(314,763)
Total debt, net of unamortized debt issuance costs			20,839,503		19,329,043
Less—current portion including commercial paper			(956,743)		(1,371,087)
Long-term portion			$	19,882,760	$	17,957,956

(1) Interest rates based on outstanding loan balance as of September 30, 2021 and, for variable rate debt, include either LIBOR or EURIBOR plus the applicable margin.

(2) Includes $1.9 billion facility and $1.3 billion facility, the vast majority of which is due in 2024. Our $1.9 billion facility accrues interest at LIBOR plus a maximum interest rate margin of 1.30%, which interest was 1.43% as of September 30, 2021 and is subject to a facility fee of a maximum of 0.20%. Our $1.3 billion facility accrues interest at LIBOR plus a maximum interest rate margin of 1.70%, which interest was 1.83% as of September 30, 2021 and is subject to a facility fee of a maximum of 0.30%.

(3) At September 30, 2021 and December 31, 2020, the weighted average interest rate for total debt was 5.65% and 6.02%, respectively.

Schedule of Maturities of Long-term Debt

The following is a schedule of annual maturities on our total debt net of debt issuance costs, and including finance leases, as of September 30, 2021 for each of the next five years (in thousands):

Year
Remainder of 2021	$	12,932
2022	2,182,569
2023	5,372,397
2024	4,006,923
2025	2,276,602
Thereafter	6,988,080
	$	20,839,503