XML 51 R39.htm IDEA: XBRL DOCUMENT
v3.21.2

Fair Value (Tables) | 9 Months Ended
--- | ---
Sep. 26, 2021
Fair Value Disclosures [Abstract] |
Summary of Assets and Liabilities Measured At Fair Value On A Recurring Basis | The Company’s assets and liabilities measured at fair value on a recurring basis were as follows (in thousands):
| September 26, 2021
| Balance |  | Level 1 |  | Level 2 |  |
Assets: |  |  |  |  |  |  |
Cash equivalents | $ | 1,753,398 |  |  | $ | 1,503,400 |  |  | $ | 249,998 |  |  |
Marketable securities | 48,766 |  |  | 48,766 |  |  | — |  |  |
Derivative financial instruments | 59,847 |  |  | — |  |  | 59,847 |  |  |
| $ | 1,862,011 |  |  | $ | 1,552,166 |  |  | $ | 309,845 |  |  |
Liabilities: |  |  |  |  |  |  |
Derivative financial instruments | $ | 694 |  |  | $ | — |  |  | $ | 694 |  |  |
| December 31, 2020
| Balance |  | Level 1 |  | Level 2 |  |
Assets: |  |  |  |  |  |  |
Cash equivalents | $ | 3,019,884 |  |  | $ | 2,819,884 |  |  | $ | 200,000 |  |  |
Marketable securities | 52,061 |  |  | 52,061 |  |  | — |  |  |
Derivative financial instruments | 140,266 |  |  | — |  |  | 140,266 |  |  |
| $ | 3,212,211 |  |  | $ | 2,871,945 |  |  | $ | 340,266 |  |  |
Liabilities: |  |  |  |  |  |  |
Derivative financial instruments | $ | 25,521 |  |  | $ | — |  |  | $ | 25,521 |  |  |
| September 27, 2020
| Balance |  | Level 1 |  | Level 2 |  |
Assets: |  |  |  |  |  |  |
Cash equivalents | $ | 3,250,891 |  |  | $ | 3,150,891 |  |  | $ | 100,000 |  |  |
Marketable securities | 48,845 |  |  | 48,845 |  |  | — |  |  |
Derivative financial instruments | 60,849 |  |  | — |  |  | 60,849 |  |  |
| $ | 3,360,585 |  |  | $ | 3,199,736 |  |  | $ | 160,849 |  |  |
Liabilities: |  |  |  |  |  |  |
Derivative financial instruments | $ | 13,397 |  |  | $ | — |  |  | $ | 13,397 |  |  |
Summary of The Fair Value and Carrying Value of The Company's Financial Instruments | The fair value and carrying value of the Company’s remaining financial instruments that are measured at cost or amortized cost were as follows (in thousands):
| September 26, 2021 |  | December 31, 2020 |  | September 27, 2020
| Fair Value |  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value |  | Carrying Value
Assets: |  |  |  |  |  |  |  |  |  |  |
Finance receivables, net | $ | 7,117,828 |  |  | $ | 6,863,258 |  |  | $ | 6,586,348 |  |  | $ | 6,443,008 |  |  | $ | 6,954,661 |  |  | $ | 6,843,492 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Deposits, net | $ | 292,284 |  |  | $ | 290,270 |  |  | $ | 79,965 |  |  | $ | 79,965 |  |  | $ | 29,999 |  |  | $ | 29,999 |
Debt: |  |  |  |  |  |  |  |  |  |  |
Unsecured commercial paper | $ | 749,620 |  |  | $ | 749,620 |  |  | $ | 1,014,274 |  |  | $ | 1,014,274 |  |  | $ | 1,077,763 |  |  | $ | 1,077,763 |
Global credit facility borrowings | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 150,000 |  |  | $ | 150,000 |
Asset-backed U.S. commercial paper conduit facilities | $ | 242,254 |  |  | $ | 242,254 |  |  | $ | 402,205 |  |  | $ | 402,205 |  |  | $ | 467,338 |  |  | $ | 467,338 |
Asset-backed Canadian commercial paper conduit facility | $ | 98,310 |  |  | $ | 98,310 |  |  | $ | 116,678 |  |  | $ | 116,678 |  |  | $ | 127,500 |  |  | $ | 127,500 |
Asset-backed securitization debt | $ | 1,967,893 |  |  | $ | 1,952,368 |  |  | $ | 1,817,892 |  |  | $ | 1,791,956 |  |  | $ | 2,123,715 |  |  | $ | 2,096,355 |
Medium-term notes | $ | 3,583,411 |  |  | $ | 3,444,664 |  |  | $ | 5,118,928 |  |  | $ | 4,917,714 |  |  | $ | 4,895,006 |  |  | $ | 4,845,961 |
Senior notes | $ | 798,518 |  |  | $ | 744,494 |  |  | $ | 828,141 |  |  | $ | 743,977 |  |  | $ | 798,411 |  |  | $ | 743,806 |

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration