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Debt (Tables) | 9 Months Ended
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Sep. 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):
| September 30, 2024 |  | December 31, 2023 |  | September 30, 2023
Unsecured commercial paper | $ | 497,373 |  |  | $ | 878,935 |  |  | $ | 815,081 |
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):
|  | September 30, 2024 |  | December 31, 2023 |  | September 30, 2023 |
Secured debt: |  |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility |  | $ | 94,142 |  |  | $ | 70,742 |  |  | $ | 79,755 |  |
Asset-backed U.S. commercial paper conduit facility |  | 378,968 |  |  | 233,258 |  |  | 272,766 |  |
Asset-backed securitization debt |  | 2,252,468 |  |  | 1,884,629 |  |  | 2,147,548 |  |
Unamortized discounts and debt issuance costs |  | (7,726) |  |  | (7,261) |  |  | (8,864) |  |
|  | 2,717,852 |  |  | 2,181,368 |  |  | 2,491,205 |  |
Unsecured notes (at par value): |  |  |  |  |  |  |
Medium-term notes: |  |  |  |  |  |  |
Due in 2024, issued November 2019(a) | 3.14 | % | 669,864 |  |  | 662,238 |  |  | 634,464 |  |
Due in 2025, issued June 2020 | 3.35 | % | 700,000 |  |  | 700,000 |  |  | 700,000 |  |
Due in 2026, issued April 2023(b) | 6.36 | % | 781,508 |  |  | 772,610 |  |  | 740,207 |  |
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 |  | (14,800) |  |  | (15,710) |  |  | (17,275) |  |
|  | 3,836,572 |  |  | 3,319,138 |  |  | 3,257,396 |  |
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 |  | (3,382) |  |  | (3,921) |  |  | (4,100) |  |
|  | 746,618 |  |  | 746,079 |  |  | 745,900 |  |
|  | 4,583,190 |  |  | 4,065,217 |  |  | 4,003,296 |  |
Long-term debt |  | 7,301,042 |  |  | 6,246,585 |  |  | 6,494,501 |  |
Current portion of long-term debt, net |  | (2,561,535) |  |  | (1,255,999) |  |  | (638,496) |  |
Long-term debt, net |  | $ | 4,739,507 |  |  | $ | 4,990,586 |  |  | $ | 5,856,005 |  |
(a)€600.0 million par value remeasured to U.S. dollar at September 30, 2024, December 31, 2023, and September 30, 2023, respectively (b)€700.0 million par value remeasured to U.S. dollar at September 30, 2024, December 31, 2023, and September 30, 2023, respectively
Schedule of Maturities of Long-term Debt | Future principal payments of the Company's debt obligations as of September 30, 2024 were as follows (in thousands):
2024 | $ | 1,348,574 |
2025 | 1,892,265 |
2026 | 1,514,557 |
2027 | 1,089,974 |
2028 | 1,059,167 |
Thereafter | 919,786 |
Future principal payments | 7,824,323 |
Unamortized discounts and debt issuance costs | (25,908) |
| $ | 7,798,415 |

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