Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Debt consist of the following (in thousands):

	Interest Rate (1)	Maturities Through	As of March 31, 2022		As of December 31, 2021
Fixed rate debt:
Unsecured senior notes	3.70% to 9.13%	2022 - 2028	$	6,598,558	$	5,604,498
Secured senior notes	10.88% to 11.50%	2023 - 2025	2,357,803		2,354,037
Unsecured term loans	2.53% to 5.89%	2028 - 2034	4,114,508		2,860,567
Convertible notes	2.88% to 4.25%	2023	1,725,000		1,558,780
Total fixed rate debt			14,795,869		12,377,882
Variable rate debt:
Unsecured revolving credit facilities (2)	1.75% to 2.15%	2022 - 2024	1,909,342		2,899,342
USD unsecured term loan	1.84% to 4.95%	2022 - 2033	5,114,768		5,018,740
Euro unsecured term loan	1.15% to 2.25%	2022 - 2028	670,500		685,633
Total variable rate debt			7,694,610		8,603,715
Finance lease liabilities			428,387		472,275
Total debt (3)			22,918,866		21,453,872
Less: unamortized debt issuance costs			(416,890)		(363,532)
Total debt, net of unamortized debt issuance costs			22,501,976		21,090,340
Less—current portion			(2,558,463)		(2,243,131)
Long-term portion			$	19,943,513	$	18,847,209

(1) Interest rates based on outstanding loan balance as of March 31, 2022 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 1.75% as of March 31, 2022 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 2.15% as of March 31, 2022 and is subject to a facility fee of a maximum of 0.30%.

(3) At March 31, 2022 and December 31, 2021, the weighted average interest rate for total debt was 5.61% and 5.47%, 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 March 31, 2022 for each of the next five years (in thousands):

Year
Remainder of 2022	2,273,401
2023	5,665,482
2024	3,128,924
2025	2,417,492
2026	2,614,571
Thereafter	6,402,106
	22,501,976