Debt (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Summary of Unsecured Note Balances, Interest Rate and Maturity Date Information

The following tables summarize the Company’s unsecured note balances and certain interest rate and maturity date information as of and for the years ended December 31, 2017 and 2016, respectively:

December 31, 2017 (Amounts in thousands)	Net Principal Balance		Interest Rate Ranges	Weighted Average Interest Rate	Maturity Date Ranges
Fixed Rate Public Notes (1)	$	4,591,373	2.85% - 7.57%	4.61%	2020-2047
Floating Rate Public Notes (1)		447,439	(1)	1.82%	2019
Totals	$	5,038,812

December 31, 2016 (Amounts in thousands)	Net Principal Balance		Interest Rate Ranges	Weighted Average Interest Rate	Maturity Date Ranges
Fixed Rate Public Notes (1)	$	4,397,829	2.85% - 7.57%	4.90%	2017 - 2045
Floating Rate Public Notes (1)		450,250	(1)	1.28%	2019
Totals	$	4,848,079

(1) Fair value interest rate swaps convert the $450.0 million 2.375% notes due July 1, 2019 to a floating interest rate of 90-Day LIBOR plus 0.61%.

Summary of Aggregate Payments of Principal on All Debt

On April 24, 2017, the Company executed a new letter of credit facility with a third party financial institution which is not backed or collateralized by borrowings on the Company’s unsecured revolving credit facility.  As of December 31, 2017, there was $9.0 million in letters of credit outstanding on this facility.

The following table provides a summary of the aggregate payments of principal on all debt for each of the next five years and thereafter as of December 31, 2017 (amounts in thousands):

Year	Total
2018	$	446,969
2019		975,334
2020		1,678,992
2021		927,806
2022		265,741
Thereafter		4,776,232
Subtotal		9,071,074
Deferred Financing Costs and Unamortized (Discount)		(113,783	)
Total	$	8,957,291