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CREDIT FACILITIES AND LONG-TERM DEBT (Tables) | 6 Months Ended
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Jun. 30, 2023
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | The following tables summarize certain details related to the Company's credit facilities and long-term debt as of June 30, 2023 and December 31, 2022 (in millions, except interest rates):
|  |  |  | Outstanding Amount |  |  |  |  |  |
June 30, 2023 |  | Borrowing Capacity |  | Current |  | Non-Current |  | Weighted Average Interest Rate |  | End of Revolving / Withdrawal Period |  | Final Maturity Date
Non-Recourse Asset-backed Debt: |  |  |  |  |  |  |  |  |  |  |  |
Asset-backed Senior Revolving Credit Facilities |  |  |  |  |  |  |  |  |  |  |  |
Revolving Facility 2018-2 |  | $ | 1,000 |  |  | $ | 15 |  |  | $ | — |  |  | 7.48 | % |  | June 30, 2025 |  | June 30, 2025
Revolving Facility 2018-3 |  | 1,000 |  |  | — |  |  | — |  |  | 6.82 | % |  | October 20, 2025 |  | October 20, 2025
Revolving Facility 2019-1 |  | 600 |  |  | — |  |  | — |  |  | 7.34 | % |  | July 31, 2023 |  | July 31, 2023
Revolving Facility 2019-2 |  | 1,850 |  |  | — |  |  | — |  |  | 6.83 | % |  | July 8, 2023 |  | July 8, 2023
Revolving Facility 2019-3 |  | 925 |  |  | — |  |  | — |  |  | — | % |  | April 5, 2024 |  | April 4, 2025
Asset-backed Senior Term Debt Facilities |  |  |  |  |  |  |  |  |  |  |  |
Term Debt Facility 2021-S1 |  | 100 |  |  | — |  |  | 100 |  |  | 3.48 | % |  | January 2, 2025 |  | April 1, 2025
Term Debt Facility 2021-S2 |  | 600 |  |  | — |  |  | 500 |  |  | 3.20 | % |  | September 10, 2024 |  | September 10, 2025
Term Debt Facility 2021-S3 |  | 1,000 |  |  | — |  |  | 750 |  |  | 3.75 | % |  | January 31, 2027 |  | July 31, 2027
Term Debt Facility 2022-S1 |  | 250 |  |  | — |  |  | 250 |  |  | 4.07 | % |  | March 1, 2025 |  | September 1, 2025
Total |  | $ | 7,325 |  |  | $ | 15 |  |  | $ | 1,600 |  |  |  |  |  |  |
Issuance Costs |  |  |  | — |  |  | (15) |  |  |  |  |  |  |
Carrying Value |  |  |  | $ | 15 |  |  | $ | 1,585 |  |  |  |  |  |  |
Asset-backed Mezzanine Term Debt Facilities |  |  |  |  |  |  |  |  |  |  |  |
Term Debt Facility 2020-M1 |  | 2,300 |  |  | — |  |  | 800 |  |  | 10.00 | % |  | April 1, 2025 |  | April 1, 2026
Term Debt Facility 2022-M1 |  | 500 |  |  | — |  |  | 150 |  |  | 10.00 | % |  | September 15, 2025 |  | September 15, 2026
Total |  | $ | 2,800 |  |  | $ | — |  |  | $ | 950 |  |  |  |  |  |  |
Issuance Costs |  |  |  |  |  | (8) |  |  |  |  |  |  |
Carrying Value |  |  |  |  |  | $ | 942 |  |  |  |  |  |  |
Total Non-Recourse Asset-backed Debt |  | $ | 10,125 |  |  | $ | 15 |  |  | $ | 2,527 |  |  |  |  |  |  |
|  | Outstanding Amount |  |
December 31, 2022 |  | Current |  | Non-Current |  | Weighted Average Interest Rate
Non-Recourse Asset-backed Debt: |  |  |  |  |  |
Asset-backed Senior Revolving Credit Facilities |  |  |  |  |  |
Revolving Facility 2018-2 |  | $ | 472 |  |  | $ | — |  |  | 4.86 | %
Revolving Facility 2018-3 |  | 194 |  |  | — |  |  | 3.98 | %
Revolving Facility 2019-1 |  | 55 |  |  | — |  |  | 4.41 | %
Revolving Facility 2019-2 |  | 167 |  |  | — |  |  | 3.92 | %
Revolving Facility 2019-3 |  | — |  |  | — |  |  | 3.86 | %
Revolving Facility 2022-1 |  | 289 |  |  | — |  |  | 8.15 | %
Asset-backed Senior Term Debt Facilities |  |  |  |  |  |
Term Debt Facility 2021-S1 |  | — |  |  | 400 |  |  | 3.48 | %
Term Debt Facility 2021-S2 |  | — |  |  | 500 |  |  | 3.20 | %
Term Debt Facility 2021-S3 |  | — |  |  | 750 |  |  | 3.75 | %
Term Debt Facility 2022-S1 |  | — |  |  | 250 |  |  | 4.07 | %
Term Debt Facility 2022-S2 |  | 200 |  |  | — |  |  | 8.48 | %
Total |  | $ | 1,377 |  |  | $ | 1,900 |  |  |
Issuance Costs |  | (1) |  |  | (17) |  |  |
Carrying Value |  | $ | 1,376 |  |  | $ | 1,883 |  |  |
Asset-backed Mezzanine Term Debt Facilities |  |  |  |  |  |
Term Debt Facility 2020-M1 |  | $ | — |  |  | $ | 1,000 |  |  | 10.00 | %
Term Debt Facility 2022-M1 |  | $ | — |  |  | $ | 150 |  |  | 10.00 | %
Total |  | $ | — |  |  | $ | 1,150 |  |  |
Issuance Costs |  |  |  | (13) |  |  |
Carrying Value |  |  |  | $ | 1,137 |  |  |
Total Non-Recourse Asset-backed Debt |  | $ | 1,376 |  |  | $ | 3,020 |  |  |
Convertible Debt | The tables below summarize certain details related to the 2026 Notes (in millions, except interest rates):
June 30, 2023 |  | Remaining Aggregate Principal Amount |  | Unamortized Debt Issuance Costs |  | Net Carrying Amount
2026 Notes |  | $ | 510 |  |  | $ | (9) |  |  | $ | 501 |
June 30, 2023 |  | Maturity Date |  | Stated Cash Interest Rate |  | Effective Interest Rate |  | Semi-Annual Interest Payment Dates |  | Conversion Rate |  | Conversion Price
2026 Notes |  | August 15, 2026 |  | 0.25 | % |  | 0.78 | % |  | February 15; August 15 |  | 51.9926 |  | $ | 19.23 |

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