Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Debt With Contractual Term Less Than One Year

Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following at December 31 (in thousands):

	2024		2023
Unsecured commercial paper	$	640,204	$	878,935

Schedule of Debt With a Contractual Term Greater Than One Year

Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following at December 31 (in thousands):

	2024		2023
Secured debt:
Asset-backed Canadian commercial paper conduit facility	$	77,381	$	70,742
Asset-backed U.S. commercial paper conduit facility	431,846		233,258
Asset-backed securitization debt	1,956,383		1,884,629
Unamortized discounts and debt issuance costs	(6,245)		(7,261)
	2,459,365		2,181,368

			2024		2023
Unsecured notes (at par value):
Medium-term notes:
Due in 2024, issued November 2019(a)	3.14	%	—		662,238
Due in 2025, issued June 2020	3.35	%	700,000		700,000
Due in 2026, issued April 2023(b)	6.36	%	727,104		772,610
Due in 2027, issued February 2022	3.05	%	500,000		500,000
Due in 2028, issued March 2023	6.50	%	700,000		700,000
Due in 2029, issued June 2024	5.95	%	500,000		—
Unamortized discounts and debt issuance costs			(13,091)		(15,710)
			3,114,013		3,319,138
Senior notes:
Due in 2025, issued July 2015	3.50%		450,000		450,000
Due in 2045, issued July 2015	4.625%		300,000		300,000
Unamortized discounts and debt issuance costs			(3,200)		(3,921)
			746,800		746,079
			3,860,813		4,065,217
Long-term debt			6,320,178		6,246,585
Current portion of long-term debt, net			(1,851,513)		(1,255,999)
Long-term debt, net			$	4,468,665	$	4,990,586

(a)€600.0 million par value remeasured to U.S. dollar at December 31, 2023.

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

At December 31, 2024, the Consolidated balance sheets included outstanding balances related to the following secured notes with the related maturity dates and interest rates (in thousands):

Issue Date	Principal Amount at Date of Issuance	Weighted-Average Rate at Date of Issuance	Contractual Maturity Date at Date of Issuance
September 2024	$600,000	4.52%	October 2025 - April 2032
May 2024	$550,000	5.48%	May 2025 - December 2031
September 2023	$500,000	5.79%	October 2024 - April 2031
February 2023	$550,000	5.10%	March 2024 - June 2030
June 2022	$1,286,262	2.45%	April 2028
April 2022	$550,000	2.40%	April 2023 - January 2030
August 2021	$575,000	0.42%	August 2022 - May 2029
February 2021	$600,000	0.30%	February 2022 - September 2028

Schedule of Maturities of Long-term Debt

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

2025	$	2,484,712
2026	1,411,448
2027	1,063,280
2028	1,112,258
2029	611,220
Thereafter	300,000
Future principal payments	$	6,982,918
Unamortized discounts and debt issuances costs	(22,536)
	$	6,960,382