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v3.26.1

Debt | 6 Months Ended
--- | ---
Jun. 30, 2026
Debt Disclosure [Abstract] |
Debt | Debt Credit Agreement and Securitization Facility The Company is party to a $9.95 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 Note 2, the Company is also party to a $2.30 billion Securitization Facility. The balances of the Company’s debt instruments under the Credit Agreement and the Securitization Facility are as follows (in thousands):
|  | June 30, 2026 |  | December 31, 2025
Term Loan A note payable, net of discounts |  | $ | 3,291,494 |  |  | $ | 2,918,787 |
Term Loan B note payable, net of discounts |  | 2,912,218 |  |  | 3,934,403 |
Revolving line of credit facilities |  | 2,060,000 |  |  | 1,325,000 |
Other obligations |  | 59,819 |  |  | 497 |
Total notes payable, credit agreements and other obligations |  | 8,323,531 |  |  | 8,178,687 |
Securitization Facility |  | 2,300,000 |  |  | 1,823,000 |
Total debt |  | $ | 10,623,531 |  |  | $ | 10,001,687 |
Current portion |  | $ | 4,525,389 |  |  | $ | 3,345,530 |
Long-term portion |  | 6,098,142 |  |  | 6,656,157 |
Total debt |  | $ | 10,623,531 |  |  | $ | 10,001,687 |
On May 21, 2026, the Company entered into the eighteenth amendment to its Credit Agreement (as amended and supplemented from time to time, including by the eighteenth amendment, the “Credit Facility”), dated as of October 24, 2014, among Corpay Technologies Operating Company, LLC, Corpay, the other borrowers party thereto, Bank of America, N.A., as administrative agent and swing line lender, and the other lenders party thereto. The eighteenth amendment, among other things, (i) increases the aggregate commitments under the Company's revolving credit facility by $0.9 billion to new total revolving credit facility commitments of $3.7 billion, (ii) increases the Term Loan A by $0.4 billion to new total Term Loan A borrowings of $3.3 billion, (iii) extends the maturity of its revolving credit facility and Term Loan A for a new 5 year term, (iv) increases the Term Loan B-6 by $2.05 billion for a total Term Loan B-6 of $2.95 billion, (v) removes the 10 basis point SOFR Adjustment (as defined in the Credit Facility) and 3.26 basis point SONIA Adjustment (as defined in the Credit Facility), and (vi) provides for a new applicable interest rate pricing grid incorporating the better of ratings or leverage pricing. The Company repaid its Term Loan B-5 in full using $1.0 billion of the Term Loan A and revolving credit facility proceeds and $2.05 billion of the Term Loan B-6 proceeds. The Company intends to use the remaining proceeds and available revolving credit facility for general corporate purposes. The revolving credit facility and Term Loan A have a maturity date of May 21, 2031. The Term Loan B-6 has a maturity date of November 5, 2032. The term loans are payable in quarterly installments due on the last business day of each March, June, September and December with the final principal payment due on the respective maturity date. Borrowings on the revolving credit facility are repayable at the maturity date of the Credit Facility. The Company was in compliance with all financial and non-financial covenants under the Credit Agreement and Securitization Facility at June 30, 2026. The contractual maturities of the Company’s total notes payable, credit agreements and other obligations (excluding the Securitization Facility) at June 30, 2026 were as follows (in thousands):
Remaining 2026 |  | $ | 2,175,858 |
2027 |  | 112,004 |
2028 |  | 153,254 |
2029 |  | 194,504 |
2030 |  | 194,504 |
Thereafter |  | 5,530,506 |
Total principal payments |  | 8,360,630 |
Less: debt discounts and issuance costs included in debt |  | (37,099) |
Total notes payable, credit agreements and other obligations |  | $ | 8,323,531 |

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