XML 62 R52.htm IDEA: XBRL DOCUMENT v3.24.3
Indebtedness - Schedule of Debt (Details) - USD ($)
$ / shares in Units, $ in Thousands
9 Months Ended
Sep. 30, 2024
Feb. 29, 2024
Dec. 31, 2023
Debt Instrument [Line Items]      
Total debt, net $ 12,452,159   $ 10,671,928
Unused borrowing capacity 162,700    
Securitized loans      
Debt Instrument [Line Items]      
Total debt, net 895,500    
Recourse debt      
Debt Instrument [Line Items]      
Total debt, gross 1,008,939   937,144
Unamortized debt discount (12,905)   (4,775)
Total debt, net 996,034   932,369
Unused borrowing capacity 0    
Recourse debt | Bank Line Of Credit      
Debt Instrument [Line Items]      
Total debt, gross 392,524   $ 539,502
Unused borrowing capacity $ 0    
Weighted average interest rate 9.01%   8.89%
Line of credit, maximum borrowing capacity   $ 447,500  
Recourse debt | Bank Line Of Credit | Secured Overnight Financing Rate (SOFR) | Minimum      
Debt Instrument [Line Items]      
Interest rate during period 3.25%    
Recourse debt | Bank Line Of Credit | Secured Overnight Financing Rate (SOFR) | Maximum      
Debt Instrument [Line Items]      
Interest rate during period 3.75%    
Recourse debt | Bank Line Of Credit | Federal Funds Rate      
Debt Instrument [Line Items]      
Interest rate 0.50%    
Recourse debt | Convertible Senior Notes Due 2026      
Debt Instrument [Line Items]      
Total debt, gross $ 133,228   $ 397,642
Unused borrowing capacity $ 0    
Weighted average interest rate 0.00%   0.00%
Recourse debt | Convertible Senior Notes Due 2026 | Minimum      
Debt Instrument [Line Items]      
Interest rate during period 0.00%    
Recourse debt | Convertible Senior Notes Due 2030      
Debt Instrument [Line Items]      
Total debt, gross $ 483,187   $ 0
Unused borrowing capacity $ 0    
Weighted average interest rate 4.00%   0.00%
Recourse debt | Convertible Senior Notes Due 2030 | Minimum      
Debt Instrument [Line Items]      
Interest rate during period 4.00%    
Recourse debt | Line of Credit | Base Rate | Minimum      
Debt Instrument [Line Items]      
Interest rate 2.25%    
Recourse debt | Line of Credit | Base Rate | Maximum      
Debt Instrument [Line Items]      
Interest rate 2.75%    
Non Recourse Debt      
Debt Instrument [Line Items]      
Total debt, gross $ 11,578,898   $ 9,820,130
Total debt, net 11,456,125   9,739,559
Unused borrowing capacity 162,700    
Non Recourse Debt | Senior revolving and delayed draw loans      
Debt Instrument [Line Items]      
Total debt, gross 1,779,300   $ 1,886,300
Unused borrowing capacity $ 162,700    
Weighted average interest rate 7.91%   7.59%
Line of credit, maximum borrowing capacity $ 2,800,000    
Non Recourse Debt | Senior revolving and delayed draw loans | Secured Overnight Financing Rate (SOFR) | Minimum      
Debt Instrument [Line Items]      
Interest rate during period 2.35%    
Non Recourse Debt | Senior revolving and delayed draw loans | Secured Overnight Financing Rate (SOFR) | Maximum      
Debt Instrument [Line Items]      
Interest rate during period 3.10%    
Non Recourse Debt | Senior non-revolving loans      
Debt Instrument [Line Items]      
Total debt, gross $ 2,357,004   $ 2,226,343
Unused borrowing capacity $ 0    
Weighted average interest rate 6.89%   6.26%
Non Recourse Debt | Senior non-revolving loans | Minimum      
Debt Instrument [Line Items]      
Interest rate during period 4.66%    
Non Recourse Debt | Senior non-revolving loans | Maximum      
Debt Instrument [Line Items]      
Interest rate during period 6.93%    
Non Recourse Debt | Senior non-revolving loans | Secured Overnight Financing Rate (SOFR) | Minimum      
Debt Instrument [Line Items]      
Interest rate during period 1.85%    
Non Recourse Debt | Senior non-revolving loans | Secured Overnight Financing Rate (SOFR) | Maximum      
Debt Instrument [Line Items]      
Interest rate during period 2.25%    
Non Recourse Debt | Subordinated revolving and delayed draw loans      
Debt Instrument [Line Items]      
Total debt, gross $ 25,350   $ 146,000
Unused borrowing capacity $ 0    
Weighted average interest rate 14.27%   12.01%
Non Recourse Debt | Subordinated revolving and delayed draw loans | Secured Overnight Financing Rate (SOFR) | Minimum      
Debt Instrument [Line Items]      
Interest rate during period 9.10%    
Non Recourse Debt | Subordinated Loans      
Debt Instrument [Line Items]      
Total debt, gross $ 2,660,026   $ 2,110,693
Total debt, net 149,300    
Unused borrowing capacity $ 0    
Weighted average interest rate 9.51%   9.18%
Non Recourse Debt | Subordinated Loans | Minimum      
Debt Instrument [Line Items]      
Interest rate during period 7.00%    
Non Recourse Debt | Subordinated Loans | Maximum      
Debt Instrument [Line Items]      
Interest rate during period 10.75%    
Non Recourse Debt | Subordinated Loans | Secured Overnight Financing Rate (SOFR) | Minimum      
Debt Instrument [Line Items]      
Interest rate during period 6.50%    
Non Recourse Debt | Subordinated Loans | Secured Overnight Financing Rate (SOFR) | Maximum      
Debt Instrument [Line Items]      
Interest rate during period 6.90%    
Non Recourse Debt | Subordinated Loans | Floating Rate      
Debt Instrument [Line Items]      
Total debt, net $ 637,700    
Non Recourse Debt | Securitized loans      
Debt Instrument [Line Items]      
Total debt, gross 4,757,218   $ 3,450,794
Unused borrowing capacity $ 0    
Weighted average interest rate 5.08%   4.61%
Non Recourse Debt | Securitized loans | Minimum      
Debt Instrument [Line Items]      
Interest rate during period 2.27%    
Non Recourse Debt | Securitized loans | Maximum      
Debt Instrument [Line Items]      
Interest rate during period 6.60%    
Non Recourse Debt | 0% Convertible Senior Notes      
Debt Instrument [Line Items]      
Total debt, net $ 133,200    
Unamortized debt (discount) premium, net      
Debt Instrument [Line Items]      
Unamortized debt (discount) premium, net (122,773)   $ (80,571)
Unused borrowing capacity $ 0    
Line of Credit | Secured Overnight Financing Rate (SOFR) | Minimum      
Debt Instrument [Line Items]      
Interest rate 3.25%    
Line of Credit | Secured Overnight Financing Rate (SOFR) | Maximum      
Debt Instrument [Line Items]      
Interest rate 3.75%    
Convertible Debt | Convertible Senior Notes Due 2030      
Debt Instrument [Line Items]      
Conversion price (in dollars per share) $ 0.0613704    
Convertible Debt | 0% Convertible Senior Notes      
Debt Instrument [Line Items]      
Total debt, net $ 483,200    
Interest rate 4.00%    
Conversion price (in dollars per share) $ 117.91    
Convertible Debt | 0% Convertible Senior Notes | Base Rate      
Debt Instrument [Line Items]      
Conversion price (in dollars per share) $ 16.29