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Debt (Tables) | 3 Months Ended
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Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | Debt consisted of the following (in thousands):
| March 31, 2024 |  | December 31, 2023
Senior Secured Notes and Loans: |  |  |
6.67% Senior Secured Notes due 2033 | $ | 700,000 |  |  | $ | 700,000 |
6.72% Senior Secured Loans due 2033 | 356,000 |  |  | 356,000 |
7.11% Senior Secured Loans due 2047 | 251,000 |  |  | 251,000 |
6.85% Senior Secured Notes due 2047 | 190,000 |  |  | — |
Total Senior Secured Notes and Loans | 1,497,000 |  |  | 1,307,000 |
Credit Facilities: |  |  |
CD Senior Working Capital Facility | — |  |  | — |
CD Credit Facility | 817,000 |  |  | 484,000 |
TCF Credit Facility | 102,000 |  |  | 59,000 |
Corporate Credit Facility | 26,881 |  |  | — |
Total debt | 2,442,881 |  |  | 1,850,000 |
Unamortized debt issuance costs | (49,151) |  |  | (33,699) |
Total debt, net | $ | 2,393,730 |  |  | $ | 1,816,301 |
Schedule of Line of Credit Facilities | Below is a summary of our committed credit facilities outstanding as of March 31, 2024 (in thousands):
| CD Senior Working Capital Facility |  | CD Credit Facility |  | TCF Credit Facility |  | Corporate Credit Facility
Total Facility Size | $ | 500,000 |  |  | $ | 9,554,000 |  |  | $ | 800,000 |  |  | $ | 62,500 |
Less: |  |  |  |  |  |  |
Outstanding balance | — |  |  | 817,000 |  |  | 102,000 |  |  | 26,881 |
Letters of credit issued | 120,625 |  |  | — |  |  | — |  |  | — |
Available commitment | $ | 379,375 |  |  | $ | 8,737,000 |  |  | $ | 698,000 |  |  | $ | 35,619 |
Priority ranking | Senior secured |  | Senior secured |  | Senior secured |  | Senior secured
Interest rate on outstanding balance | SOFR + 2.25% |  | SOFR + 2.25% |  | SOFR + 2.25% |  | SOFR + 4.50%
Commitment fees on undrawn balance | 0.68 % |  | 0.68 % |  | 0.68 % |  | 1.35 %
Maturity Date | 2030 |  | 2030 |  | 2030 |  | 2026
Schedule of Maturities of Long-Term Debt |
| Principal Payments
2024 - 2025 | $ | — |
2026 | 26,881 |
2027 - 2028 | — |
Thereafter | 2,416,000 |
Total | $ | 2,442,881 |
Interest Income and Interest Expense Disclosure | Total interest expense, net of capitalized interest, consisted of the following (in thousands):
| Three Months Ended March 31,
| 2024 |  | 2023
Interest per contractual rate | $ | 36,591 |  |  | $ | — |
Amortization of debt issuance costs | 16,388 |  |  | — |
Other interest costs | 551 |  |  | — |
Total interest cost | 53,530 |  |  | — |
Capitalized interest | (28,051) |  |  | — |
Total interest expense, net of capitalized interest | $ | 25,479 |  |  | $ | — |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The following table shows the carrying amount and estimated fair value of our debt (in thousands):
| March 31, 2024 |  | December 31, 2023
| Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
Senior Notes - Level 2 | $ | 890,000 |  |  | $ | 912,108 |  |  | $ | 700,000 |  |  | $ | 743,593 |
Senior Loans - Level 2 | 607,000 |  |  | 621,969 |  |  | 607,000 |  |  | 632,998 |

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