Debt (Tables)

3 Months Ended

Mar. 31, 2025

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, 2025		December 31, 2024		March 31, 2024
Unsecured commercial paper	$	498,500	$	640,204	$	938,719

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, 2025		December 31, 2024		March 31, 2024
Secured debt:
Asset-backed Canadian commercial paper conduit facility			$	68,275	$	77,381	$	88,333
Asset-backed U.S. commercial paper conduit facility			531,260		431,846		502,521
Asset-backed securitization debt			1,663,711		1,956,383		1,650,452
Unamortized discounts and debt issuance costs			(4,966)		(6,245)		(5,826)
			2,258,280		2,459,365		2,235,480
Unsecured notes (at par value):
Medium-term notes:
Due in 2024, issued November 2019(a)	3.14	%	—		—		647,592
Due in 2025, issued June 2020	3.35	%	700,000		700,000		700,000
Due in 2026, issued April 2023(b)	6.36	%	758,051		727,104		755,524
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
Due in 2029, issued June 2024	5.95	%	500,000		500,000		—
Due in 2030, issued March 2025(c)	5.61	%	660,587		—		—
Unamortized discounts and debt issuance costs			(21,538)		(13,091)		(14,123)
			3,797,100		3,114,013		3,288,993
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			(3,019)		(3,200)		(3,742)
			746,981		746,800		746,258
			4,544,081		3,860,813		4,035,251
Long-term debt			6,802,361		6,320,178		6,270,731
Current portion of long-term debt, net			(1,839,100)		(1,851,513)		(1,281,840)
Long-term debt, net			$	4,963,261	$	4,468,665	$	4,988,891

(a)€600.0 million par value remeasured to U.S. dollar at March 31, 2024

(b)€700.0 million par value remeasured to U.S. dollar at March 31, 2025, December 31, 2024, and March 31, 2024, respectively

(c)€610.0 million par value remeasured to U.S. dollar at March 31, 2025

Schedule of Maturities of Long-term Debt

Future principal payments of the Company's debt obligations as of March 31, 2025 were as follows (in thousands):

2025	$	2,148,647
2026	1,412,325
2027	1,045,874
2028	1,163,047
2029	599,904
Thereafter	960,587
Future principal payments	7,330,384
Unamortized discounts and debt issuance costs	(29,523)
	$	7,300,861