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v3.26.1

Borrowings (Tables) | 3 Months Ended
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Mar. 31, 2026
Debt Disclosure [Abstract] |
Summary of Borrowings | Our borrowings consisted of the following (in thousands):
Type of Borrowing |  | Date of Issuance |  | Maturity |  | As of March 31, 2026 |  | As of December 31, 2025
Senior Unsecured Notes: |  |  |  |  |  |  |  |
$1,000,000, 1.75% (issued at 98.284% of par) |  | 9/2020 |  | 9/2027 |  | $ | 1,000,000 |  |  | $ | 1,000,000 |
$500,000, 5.15% (issued at 98.758% of par) |  | 6/2024 |  | 9/2029 |  | 500,000 |  |  | 500,000 |
$1,000,000, 2.20% (issued at 97.760% of par) |  | 9/2020 |  | 9/2030 |  | 1,000,000 |  |  | 1,000,000 |
$600,000, 4.45% (issued at 98.909% of par) |  | 9/2025 |  | 3/2031 |  | 600,000 |  |  | 600,000 |
$600,000, 2.15% (issued at 98.263% of par) |  | 7/2021 |  | 9/2031 |  | 600,000 |  |  | 600,000 |
$500,000, 5.40% (issued at 97.872% of par) |  | 6/2024 |  | 9/2034 |  | 500,000 |  |  | 500,000 |
$900,000, 5.20% (issued at 97.989% of par) |  | 9/2025 |  | 9/2035 |  | 900,000 |  |  | 900,000 |
$1,000,000, 3.30% (issued at 95.556% of par) |  | 9/2020 |  | 9/2040 |  | 1,000,000 |  |  | 1,000,000 |
$1,000,000, 3.55% (issued at 95.306% of par) |  | 9/2020 |  | 9/2050 |  | 1,000,000 |  |  | 1,000,000 |
$700,000, 3.35% (issued at 97.565% of par) |  | 7/2021 |  | 9/2051 |  | 700,000 |  |  | 700,000 |
$500,000, 5.90% (issued at 97.617% of par) |  | 6/2024 |  | 9/2054 |  | 500,000 |  |  | 500,000 |
$500,000, 5.95% (issued at 95.824% of par) |  | 9/2025 |  | 9/2055 |  | 500,000 |  |  | 500,000 |
Term Loan |  | See below |  | 7/2026 |  | 380,000 |  |  | 380,000 |
Unamortized debt discount and issuance costs |  |  |  |  |  | (223,557) |  |  | (229,083) |
Total debt carrying value |  |  |  |  |  | 8,956,443 |  |  | 8,950,917 |
Less: Current portion of long-term debt |  |  |  |  |  | (380,000) |  |  | (380,000)
Total long-term debt |  |  |  |  |  | $ | 8,576,443 |  |  | $ | 8,570,917 |
Summary of Repayments of Debt by Year | The future principal payments for our borrowings as of March 31, 2026 are as follows (in thousands):
Year |  | Principal Payments
Remainder of 2026 |  | $ | 380,000 |
2027 |  | 1,000,000 |
2028 |  | — |
2029 |  | 500,000 |
2030 |  | 1,000,000 |
Thereafter |  | 6,300,000 |
Total(1) |  | $ | 9,180,000 |
(1)Excludes unamortized debt discount and issuance costs of $223.6 million as of March 31, 2026, which are amortized through interest expense over the remaining life of the underlying debt obligations.

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