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Debt (Tables) | 6 Months Ended
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Jun. 30, 2024
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):
| June 30, 2024 |  | December 31, 2023 |  | June 30, 2023
Unsecured commercial paper | $ | 497,792 |  |  | $ | 878,935 |  |  | $ | 695,356 |
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):
|  | June 30, 2024 |  | December 31, 2023 |  | June 30, 2023 |
Secured debt: |  |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility |  | $ | 91,379 |  |  | $ | 70,742 |  |  | $ | 84,269 |  |
Asset-backed U.S. commercial paper conduit facility |  | 435,930 |  |  | 233,258 |  |  | 318,406 |  |
Asset-backed securitization debt |  | 1,928,141 |  |  | 1,884,629 |  |  | 1,932,779 |  |
Unamortized discounts and debt issuance costs |  | (6,733) |  |  | (7,261) |  |  | (8,234) |  |
|  | 2,448,717 |  |  | 2,181,368 |  |  | 2,327,220 |  |
Unsecured notes (at par value): |  |  |  |  |  |  |
Medium-term notes: |  |  |  |  |  |  |
Due in 2024, issued November 2019(a) | 3.14 | % | 642,786 |  |  | 662,238 |  |  | 653,484 |  |
Due in 2025, issued June 2020 | 3.35 | % | 700,000 |  |  | 700,000 |  |  | 700,000 |  |
Due in 2026, issued April 2023(b) | 6.36 | % | 749,917 |  |  | 772,610 |  |  | 762,398 |  |
Due in 2027, issued February 2022 | 3.05 | % | 500,000 |  |  | 500,000 |  |  | 500,000 |  |
Due in 2028, issued March 2023 | 6.50 | % | 700,000 |  |  | 700,000 |  |  | 700,000 |  |
Due in 2029, issued June 2024 | 5.95 | % | 500,000 |  |  | — |  |  | — |  |
Unamortized discounts and debt issuance costs |  | (16,643) |  |  | (15,710) |  |  | (18,878) |  |
|  | 3,776,060 |  |  | 3,319,138 |  |  | 3,297,004 |  |
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 |  | (3,562) |  |  | (3,921) |  |  | (4,278) |  |
|  | 746,438 |  |  | 746,079 |  |  | 745,722 |  |
|  | 4,522,498 |  |  | 4,065,217 |  |  | 4,042,726 |  |
Long-term debt |  | 6,971,215 |  |  | 6,246,585 |  |  | 6,369,946 |  |
Current portion of long-term debt, net |  | (2,021,344) |  |  | (1,255,999) |  |  | (604,700) |  |
Long-term debt, net |  | $ | 4,949,871 |  |  | $ | 4,990,586 |  |  | $ | 5,765,246 |  |
(a)€600.0 million par value remeasured to U.S. dollar at June 30, 2024, December 31, 2023, and June 30, 2023, respectively (b)€700.0 million par value remeasured to U.S. dollar at June 30, 2024, December 31, 2023, and June 30, 2023, respectively
Schedule of Maturities of Long-term Debt | Future principal payments of the Company's debt obligations as of June 30, 2024 were as follows (in thousands):
2024 | $ | 1,549,180 |
2025 | 1,822,509 |
2026 | 1,431,918 |
2027 | 985,174 |
2028 | 906,942 |
Thereafter | 800,222 |
Future principal payments | 7,495,945 |
Unamortized discounts and debt issuance costs | (26,938) |
| $ | 7,469,007 |

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