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Debt (Tables) | 3 Months Ended
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Mar. 28, 2021
Debt Disclosure [Abstract] |
Schedule of Short-term Debt | Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following (in thousands):
| March 28, 2021 |  | December 31, 2020 |  | March 29, 2020
Unsecured commercial paper | $ | 749,801 |  |  | $ | 1,014,274 |  |  | $ | 1,335,664 |
Global credit facility borrowings | 15,462 |  |  | — |  |  | — |
| $ | 765,263 |  |  | $ | 1,014,274 |  |  | $ | 1,335,664 |
Schedule of Long-term Debt Instruments | Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands):
|  | March 28, 2021 |  | December 31, 2020 |  | March 29, 2020
Secured debt: |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility |  | $ | 102,543 |  |  | $ | 116,678 |  |  | $ | 155,243 |
Asset-backed U.S. commercial paper conduit facilities |  | 350,648 |  |  | 402,205 |  |  | 600,000 |
Asset-backed securitization debt |  | 2,109,046 |  |  | 1,800,393 |  |  | 1,161,047 |
Unamortized discounts and debt issuance costs |  | (9,788) |  |  | (8,437) |  |  | (4,202) |
|  | 2,552,449 |  |  | 2,310,839 |  |  | 1,912,088 |
Unsecured notes (at par value): |  |  |  |  |  |
Medium-term notes: |  |  |  |  |  |
Due in 2020, issued May 2018 | LIBOR + 0.50% | — |  |  | — |  |  | 450,000 |
Due in 2020, issued March 2017 | 2.40 | % | — |  |  | — |  |  | 350,000 |
Due in 2021, issued January 2016 | 2.85 | % | — |  |  | 600,000 |  |  | 600,000 |
Due in 2021, issued November 2018 | LIBOR + 0.94% | — |  |  | 450,000 |  |  | 450,000 |
Due in 2021, issued May 2018 | 3.55 | % | 350,000 |  |  | 350,000 |  |  | 350,000 |
Due in 2022, issued February 2019 | 4.05 | % | 550,000 |  |  | 550,000 |  |  | 550,000 |
Due in 2022, issued June 2017 | 2.55 | % | 400,000 |  |  | 400,000 |  |  | 400,000 |
Due in 2023, issued February 2018 | 3.35 | % | 350,000 |  |  | 350,000 |  |  | 350,000 |
Due in 2023, issued May 2020(a) | 4.94 | % | 762,996 |  |  | 797,206 |  |  | — |
Due in 2024, issued November 2019(b) | 3.14 | % | 704,304 |  |  | 735,882 |  |  | 660,030 |
Due in 2025, issued June 2020 | 3.35 | % | 700,000 |  |  | 700,000 |  |  | — |
Unamortized discounts and debt issuance costs |  | (13,564) |  |  | (15,374) |  |  | (11,046) |
|  | 3,803,736 |  |  | 4,917,714 |  |  | 4,148,984 |
Senior notes: |  |  |  |  |  |
Due in 2025, issued July 2015 | 3.50 | % | 450,000 |  |  | 450,000 |  |  | 450,000 |
Due in 2045, issued July 2015 | 4.625 | % | 300,000 |  |  | 300,000 |  |  | 300,000 |
Unamortized discounts and debt issuance costs |  | (5,851) |  |  | (6,023) |  |  | (6,534) |
|  | 744,149 |  |  | 743,977 |  |  | 743,466 |
|  | 4,547,885 |  |  | 5,661,691 |  |  | 4,892,450 |
Long-term debt |  | 7,100,334 |  |  | 7,972,530 |  |  | 6,804,538 |
Current portion of long-term debt, net |  | (1,622,243) |  |  | (2,039,597) |  |  | (2,326,460) |
Long-term debt, net |  | $ | 5,478,091 |  |  | $ | 5,932,933 |  |  | $ | 4,478,078 |
(a)Euro denominated, €650.0 million par value remeasured to U.S. dollar at March 28, 2021 and December 31, 2020, respectively (b)Euro denominated, €600.0 million par value remeasured to U.S. dollar at March 28, 2021, December 31, 2020, and March 29, 2020, respectively
Schedule of Maturities of Long-term Debt | The Company's future principal payments on debt obligations as of March 28, 2021 were as follows (in thousands):
2021 | $ | 1,670,913 |
2022 | 1,685,613 |
2023 | 1,829,349 |
2024 | 1,120,828 |
2025 | 1,287,560 |
Thereafter | 300,537 |
| $ | 7,894,800 |

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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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