Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Schedule of Short-term Debt

Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following (in thousands):

	March 31, 2024		December 31, 2023		March 31, 2023
Unsecured commercial paper	$	938,719	$	878,935	$	501,243

Schedule of Long-term Debt Instruments

Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands): 

			March 31, 2024		December 31, 2023		March 31, 2023
Secured debt:
Asset-backed Canadian commercial paper conduit facility			$	88,333	$	70,742	$	62,195
Asset-backed U.S. commercial paper conduit facility			502,521		233,258		372,816
Asset-backed securitization debt			1,650,452		1,884,629		2,267,516
Unamortized discounts and debt issuance costs			(5,826)		(7,261)		(9,717)
			2,235,480		2,181,368		2,692,810
Unsecured notes (at par value):
Medium-term notes:
Due in 2023, issued May 2020 (a)	4.94	%	—		—		706,972
Due in 2024, issued November 2019(b)	3.14	%	647,592		662,238		652,590
Due in 2025, issued June 2020	3.35	%	700,000		700,000		700,000
Due in 2026, issued April 2023(c)	6.36	%	755,524		772,610		—
Due in 2027, issued February 2022	3.05	%	500,000		500,000		500,000
Due in 2028, issued March 2023	6.50	%	700,000		700,000		700,000
Unamortized discounts and debt issuance costs			(14,123)		(15,710)		(13,971)
			3,288,993		3,319,138		3,245,591

			March 31, 2024		December 31, 2023		March 31, 2023
Senior notes:
Due in 2025, issued July 2015	3.50	%	450,000		450,000		450,000
Due in 2045, issued July 2015	4.625	%	300,000		300,000		300,000
Unamortized discounts and debt issuance costs			(3,742)		(3,921)		(4,455)
			746,258		746,079		745,545
			4,035,251		4,065,217		3,991,136
Long-term debt			6,270,731		6,246,585		6,683,946
Current portion of long-term debt, net			(1,281,840)		(1,255,999)		(1,408,777)
Long-term debt, net			$	4,988,891	$	4,990,586	$	5,275,169

(a)€650.0 million par value remeasured to U.S. dollar at March 31, 2023

(b)€600.0 million par value remeasured to U.S. dollar at March 31, 2024, December 31, 2023, and March 31, 2023, respectively

(c)€700.0 million par value remeasured to U.S. dollar at March 31, 2024 and December 31, 2023, respectively

Schedule of Maturities of Long-term Debt

Future principal payments of the Company's debt obligations as of March 31, 2024 were as follows (in thousands):

2024	$	2,117,857
2025	1,801,095
2026	1,416,977
2027	857,386
2028	739,826
Thereafter	300,000
Future principal payments	7,233,141
Unamortized discounts and debt issuance costs	(23,691)
	$	7,209,450