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v3.23.1

Debt | 3 Months Ended
--- | ---
Mar. 31, 2023
Debt Disclosure [Abstract] |
Debt | Debt Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following (in thousands):
| March 31, 2023 |  | December 31, 2022 |  | March 27, 2022
Unsecured commercial paper | $ | 501,243 |  |  | $ | 770,468 |  |  | $ | 816,016 |
Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands):
|  | March 31, 2023 |  | December 31, 2022 |  | March 27, 2022
Secured debt: |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility |  | $ | 62,195 |  |  | $ | 71,785 |  |  | $ | 95,664 |
Asset-backed U.S. commercial paper conduit facility |  | 372,816 |  |  | 425,794 |  |  | 269,534 |
Asset-backed securitization debt |  | 2,267,516 |  |  | 2,028,155 |  |  | 1,363,254 |
Unamortized discounts and debt issuance costs |  | (9,717) |  |  | (8,741) |  |  | (5,696) |
|  | 2,692,810 |  |  | 2,516,993 |  |  | 1,722,756 |
Unsecured notes (at par value): |  |  |  |  |  |
Medium-term notes: |  |  |  |  |  |
Due in 2022, issued June 2017 | 2.55 | % | — |  |  | — |  |  | 400,000 |
Due in 2023, issued February 2018 | 3.35 | % | — |  |  | 350,000 |  |  | 350,000 |
Due in 2023, issued May 2020(a) | 4.94 | % | 706,972 |  |  | 695,727 |  |  | 723,886 |
Due in 2024, issued November 2019(b) | 3.14 | % | 652,590 |  |  | 642,210 |  |  | 668,202 |
Due in 2025, issued June 2020 | 3.35 | % | 700,000 |  |  | 700,000 |  |  | 700,000 |
Due in 2027, issued February 2022 | 3.05 | % | 500,000 |  |  | 500,000 |  |  | 500,000 |
Due in 2028, issued March 2023 | 6.50 | % | 700,000 |  |  | — |  |  | — |
Unamortized discounts and debt issuance costs |  | (13,971) |  |  | (8,464) |  |  | (12,243) |
|  | 3,245,591 |  |  | 2,879,473 |  |  | 3,329,845 |
|  | March 31, 2023 |  | December 31, 2022 |  | March 27, 2022
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 |  | (4,455) |  |  | (4,632) |  |  | (5,158) |
|  | 745,545 |  |  | 745,368 |  |  | 744,842 |
|  | 3,991,136 |  |  | 3,624,841 |  |  | 4,074,687 |
Long-term debt |  | 6,683,946 |  |  | 6,141,834 |  |  | 5,797,443 |
Current portion of long-term debt, net |  | (1,408,777) |  |  | (1,684,782) |  |  | (1,327,357) |
Long-term debt, net |  | $ | 5,275,169 |  |  | $ | 4,457,052 |  |  | $ | 4,470,086 |
(a)€650.0 million par value remeasured to U.S. dollar at March 31, 2023, December 31, 2022, and March 27, 2022, respectively (b)€600.0 million par value remeasured to U.S. dollar at March 31, 2023, December 31, 2022, and March 27, 2022, respectively Future principal payments of the Company's debt obligations as of March 31, 2023 were as follows (in thousands):
2023 | $ | 1,783,948 |
2024 | 1,302,020 |
2025 | 1,857,244 |
2026 | 606,941 |
2027 | 663,172 |
Thereafter | 1,000,007 |
Future principal payments | 7,213,332 |
Unamortized discounts and debt issuance costs | (28,143) |
| $ | 7,185,189 |

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1E -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1I -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I + Details
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