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Debt | 9 Months Ended
--- | ---
Sep. 30, 2024
Debt Disclosure [Abstract] |
Debt | Debt The Company is party to a $7.5 billion Credit Agreement (the "Credit Agreement"), with Bank of America, N.A., as administrative agent, swing line lender and letter of credit issuer, and a syndicate of financial institutions (the "Lenders"), which has been amended multiple times. The Credit Agreement includes a Term Loan A, a Term Loan B, and a revolving credit facility. As noted in footnote 2, the Company is also party to the Securitization Facility. The balances of the Company’s debt instruments under the Credit Agreement and the Securitization Facility are as follows (in thousands):
|  | September 30, 2024 |  | December 31, 2023
Term Loan A note payable, net of discounts |  | $ | 3,124,083 |  |  | $ | 2,882,595 |
Term Loan B note payable, net of discounts |  | 2,332,132 |  |  | 1,840,244 |
Revolving line of credit facilities |  | 975,000 |  |  | 692,318 |
Other obligations |  | 17,529 |  |  | 748 |
Total notes payable, credit agreements, and other obligations |  | 6,448,744 |  |  | 5,415,905 |
Securitization Facility |  | 1,314,000 |  |  | 1,307,000 |
Total debt |  | $ | 7,762,744 |  |  | $ | 6,722,905 |
Current portion |  | $ | 2,491,148 |  |  | $ | 2,126,749 |
Long-term portion |  | 5,271,596 |  |  | 4,596,156 |
Total debt |  | $ | 7,762,744 |  |  | $ | 6,722,905 |
On September 26, 2024, the Company entered into the fifteenth amendment to the Credit Agreement. The amendment a) increased the Term Loan B commitments by $500 million and b) removed the SOFR adjustment margin of 0.10% from the calculation of interest on Term Loan B borrowings. The Company used the Term Loan B proceeds to pay down existing borrowings under the revolving credit facility. The maturity dates and the interest rates for the revolving credit facility and Term Loan A commitments were unchanged by this amendment. The Company was in compliance with all financial and non-financial covenants under the Credit Agreement and Securitization Facility at September 30, 2024. The contractual maturities of the Company’s total notes payable, credit agreements and other obligations at September 30, 2024 were as follows (in thousands):
Remaining 2024 |  | $ | 1,040,092 |
2025 |  | 190,250 |
2026 |  | 190,250 |
2027 |  | 2,779,313 |
2028 |  | 2,266,875 |
Thereafter |  | — |
Total principal payments |  | 6,466,780 |
Less: debt discounts and issuance costs included in debt |  | (18,036) |
Total notes payable, credit agreements, and other obligations |  | $ | 6,448,744 |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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