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Borrowings (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Components of Long-Term Debt
Our borrowings at December 31, 2024 and 2023 were as follows:
20242023
Senior Credit Facility:
Revolving credit facility, at a rate of 5.71% at December 31, 2024, and 6.71% at December 31, 2023, due 2027
$113,000 $262,000 
Term loan facility, at a rate of 5.71% at December 31, 2024 and 6.71% at December 31 2023, due 2027
475,000 487,500 
4.625% Senior Notes due 2027
500,000 500,000 
4.25% Senior Notes due 2028
500,000 500,000 
Securitization program, at a rate of 5.18% at December 31, 2024 and 6.34% at December 31, 2023
75,000 75,000 
 1,663,000 1,824,500 
Less: Unamortized debt issuance costs(7,129)(9,428)
 1,655,871 1,815,072 
Current portion of borrowings(100,000)(87,500)
Long-term borrowings$1,555,871 $1,727,572 
Fair Value of Debt The following table provides the fair value of our debt as of December 31, 2024 and 2023, which is valued based on Level 2 inputs within the hierarchy used to measure fair value (see Note 12 for further information):
December 31, 2024December 31, 2023
Fair value of debt$1,632,020 $1,838,993 
Aggregate Amounts of Long-Term Debt
Debt Maturities
As of December 31, 2024, the aggregate amounts of long-term debt, demand loans and debt under our securitization program that will mature during each of the next four years and thereafter were as follows:
2025$100,000 
202625,000 
20271,038,000 
2028500,000 
2029 and thereafter— 
Schedule of Cash Flow, Supplemental Disclosures, Debt
Supplemental cash flow information
Year Ended December 31,
202420232022
Cash interest paid$98,376 $100,218 $70,918