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CREDIT FACILITIES AND LONG-TERM DEBT (Tables)
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Credit Facilities and Long Term Debt
The following tables summarize certain details related to the Company's credit facilities and long-term debt as of March 31, 2024 and December 31, 2023 (in millions, except interest rates):
Outstanding Amount
March 31, 2024
Borrowing
Capacity
CurrentNon-Current
Weighted
Average
Interest Rate
End of Revolving / Withdrawal Period
Final Maturity
Date
Non-Recourse Asset-backed Debt:
Asset-backed Senior Revolving Credit Facilities
Revolving Facility 2018-2$1,000 $— $— — %June 30, 2025June 30, 2025
Revolving Facility 2018-31,000 — — — %September 29, 2026September 29, 2026
Revolving Facility 2019-1300 — — — %August 15, 2025August 15, 2025
Revolving Facility 2019-2550 — — — %October 3, 2025October 2, 2026
Revolving Facility 2019-3925 — — — %April 5, 2024April 5, 2024
Asset-backed Senior Term Debt Facilities
Term Debt Facility 2021-S1100 — 100 3.48 %January 2, 2025April 1, 2025
Term Debt Facility 2021-S2400 — 300 3.20 %September 10, 2025March 10, 2026
Term Debt Facility 2021-S31,000 — 750 3.75 %January 31, 2027July 31, 2027
Term Debt Facility 2022-S1250 — 250 4.07 %March 1, 2025September 1, 2025
Total$5,525 $— $1,400 
Issuance Costs— (11)
Carrying Value$— $1,389 
Asset-backed Mezzanine Term Debt Facilities
Term Debt Facility 2020-M12,000 — 500 10.00 %April 1, 2025April 1, 2026
Term Debt Facility 2022-M1500 — 150 10.00 %September 15, 2025September 15, 2026
Total$2,500 $— $650 
Issuance Costs(3)
Carrying Value$647 
Total Non-Recourse Asset-backed Debt$8,025 $— $2,036 
Outstanding Amount
December 31, 2023CurrentNon-Current
Weighted
Average
Interest Rate
Non-Recourse Asset-backed Debt:
Asset-backed Senior Revolving Credit Facilities
Revolving Facility 2018-2$— $— 7.49 %
Revolving Facility 2018-3— — 6.82 %
Revolving Facility 2019-1— — 7.34 %
Revolving Facility 2019-2— — 6.83 %
Revolving Facility 2019-3— — — %
Asset-backed Senior Term Debt Facilities
Term Debt Facility 2021-S1— 100 3.48 %
Term Debt Facility 2021-S2— 300 3.20 %
Term Debt Facility 2021-S3— 750 3.75 %
Term Debt Facility 2022-S1— 250 4.07 %
Total$— $1,400 
Issuance Costs— (12)
Carrying Value$— $1,388 
Asset-backed Mezzanine Term Debt Facilities
Term Debt Facility 2020-M1$— $600 10.00 %
Term Debt Facility 2022-M1$— $150 10.00 %
Total$— $750 
Issuance Costs(4)
Carrying Value$746 
Total Non-Recourse Asset-backed Debt$— $2,134 
Schedule of Convertible Debt The tables below summarize certain details related to the 2026 Notes (in millions, except interest rates):
March 31, 2024
Remaining Aggregate Principal Amount
Unamortized Debt Issuance CostsNet Carrying Amount
2026 Notes$381 $(5)$376 
March 31, 2024Maturity DateStated Cash Interest RateEffective Interest RateSemi-Annual Interest Payment DatesConversion RateConversion Price
2026 NotesAugust 15, 20260.25 %0.78 %February 15; August 1551.9926$19.23