Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Fair Values of Debt Instruments

The carrying values and fair values of debt instruments are as follows (in thousands):

	March 31, 2025				December 31, 2024
	Carrying Value		Fair Value		Carrying Value		Fair Value
Recourse debt	$	836,174	$	697,758	$	863,646	$	807,801
Senior debt	4,516,962		4,479,740		4,738,594		4,681,858
Subordinated debt	3,009,568		2,876,855		2,667,010		2,539,930
Securitization debt	5,203,369		5,058,233		4,632,242		4,363,326
Total	$	13,566,073	$	13,112,586	$	12,901,492	$	12,392,915

Schedule of Fair Value, Financial Instruments Measured on Recurring Basis

At March 31, 2025 and December 31, 2024, financial instruments measured at fair value on a recurring basis, based upon the fair value hierarchy, are as follows (in thousands):

	March 31, 2025
	Level 1		Level 2		Level 3		Total
Derivative assets:
Interest rate swaps	$	—	$	112,068	$	—	$	112,068
Total	$	—	$	112,068	$	—	$	112,068
Derivative liabilities:
Interest rate swaps	$	—	$	17,846	$	—	$	17,846
Total	$	—	$	17,846	$	—	$	17,846

	December 31, 2024
	Level 1		Level 2		Level 3		Total
Derivative assets:
Interest rate swaps	$	—	$	171,758	$	—	$	171,758
Total	$	—	$	171,758	$	—	$	171,758
Derivative liabilities:
Interest rate swaps	$	—	$	7,385	$	—	$	7,385
Total	$	—	$	7,385	$	—	$	7,385