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Debt (Tables) | 12 Months Ended
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Dec. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt With Contractual Term Less Than One Year | Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following at December 31 (in thousands):
| 2024 |  | 2023
Unsecured commercial paper | $ | 640,204 |  |  | $ | 878,935 |
Schedule of Debt With a Contractual Term Greater Than One Year | Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following at December 31 (in thousands):
|  |  | 2024 |  | 2023
Secured debt: |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility |  |  | $ | 77,381 |  |  | $ | 70,742 |
Asset-backed U.S. commercial paper conduit facility |  |  | 431,846 |  |  | 233,258 |
Asset-backed securitization debt |  |  | 1,956,383 |  |  | 1,884,629 |
Unamortized discounts and debt issuance costs |  |  | (6,245) |  |  | (7,261) |
|  |  | 2,459,365 |  |  | 2,181,368 |
|  |  | 2024 |  | 2023
Unsecured notes (at par value): |  |  |  |  |
Medium-term notes: |  |  |  |  |
Due in 2024, issued November 2019(a) | 3.14 | % |  | — |  |  | 662,238 |
Due in 2025, issued June 2020 | 3.35 | % |  | 700,000 |  |  | 700,000 |
Due in 2026, issued April 2023(b) | 6.36 | % |  | 727,104 |  |  | 772,610 |
Due in 2027, issued February 2022 | 3.05 | % |  | 500,000 |  |  | 500,000 |
Due in 2028, issued March 2023 | 6.50 | % |  | 700,000 |  |  | 700,000 |
Due in 2029, issued June 2024 | 5.95 | % |  | 500,000 |  |  | — |
Unamortized discounts and debt issuance costs |  |  | (13,091) |  |  | (15,710) |
|  |  | 3,114,013 |  |  | 3,319,138 |
Senior notes: |  |  |  |  |
Due in 2025, issued July 2015 | 3.50% |  | 450,000 |  |  | 450,000 |
Due in 2045, issued July 2015 | 4.625% |  | 300,000 |  |  | 300,000 |
Unamortized discounts and debt issuance costs |  |  | (3,200) |  |  | (3,921) |
|  |  | 746,800 |  |  | 746,079 |
|  |  | 3,860,813 |  |  | 4,065,217 |
Long-term debt |  |  | 6,320,178 |  |  | 6,246,585 |
Current portion of long-term debt, net |  |  | (1,851,513) |  |  | (1,255,999) |
Long-term debt, net |  |  | $ | 4,468,665 |  |  | $ | 4,990,586 |
(a)€600.0 million par value remeasured to U.S. dollar at December 31, 2023. (b)€700.0 million par value remeasured to U.S. dollar at December 31, 2024 and 2023, respectively. At December 31, 2024, the Consolidated balance sheets included outstanding balances related to the following secured notes with the related maturity dates and interest rates (in thousands):
Issue Date |  | Principal Amount at Date of Issuance |  | Weighted-Average Rate at Date of Issuance |  | Contractual Maturity Date at Date of Issuance
September 2024 |  | $600,000 |  | 4.52% |  | October 2025 - April 2032
May 2024 |  | $550,000 |  | 5.48% |  | May 2025 - December 2031
September 2023 |  | $500,000 |  | 5.79% |  | October 2024 - April 2031
February 2023 |  | $550,000 |  | 5.10% |  | March 2024 - June 2030
June 2022 |  | $1,286,262 |  | 2.45% |  | April 2028
April 2022 |  | $550,000 |  | 2.40% |  | April 2023 - January 2030
August 2021 |  | $575,000 |  | 0.42% |  | August 2022 - May 2029
February 2021 |  | $600,000 |  | 0.30% |  | February 2022 - September 2028
Schedule of Maturities of Long-term Debt | Future principal payments of the Company's debt obligations as of December 31, 2024 were as follows (in thousands):
2025 | $ | 2,484,712 |
2026 | 1,411,448 |
2027 | 1,063,280 |
2028 | 1,112,258 |
2029 | 611,220 |
Thereafter | 300,000 |
Future principal payments | $ | 6,982,918 |
Unamortized discounts and debt issuances costs | (22,536) |
| $ | 6,960,382 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
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