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v3.25.1

NOTES PAYABLE - Borrowings (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Mar. 31, 2025 | Dec. 31, 2024
Due within one year: |  |
Outstanding, Amount | $ 10,108,227 | $ 10,437,623
Outstanding, Weighted - average rate | 3.59% | 3.77%
Medium-term notes due in: |  |
Two years | $ 5,703,854 |
Three years | 3,420,124 |
Four years | 2,957,557 |
Five years | 2,845,939 |
Thereafter | 3,014,065 |
Total due after one year | 17,941,539 |
Total principal net of discounts | 28,049,766 | $ 27,520,173
Hedging adjustments | (74,570) | (148,999)
Total | $ 27,975,196 | 27,371,174
Weighted - average rate | 3.52% |
Total weighted - average rate | 3.55% |
Two years |  |
Medium-term notes due in: |  |
Weighted - average rate | 3.05% |
Three years |  |
Medium-term notes due in: |  |
Weighted - average rate | 3.83% |
Four years |  |
Medium-term notes due in: |  |
Weighted - average rate | 4.20% |
Five years |  |
Medium-term notes due in: |  |
Weighted - average rate | 4.31% |
Thereafter |  |
Medium-term notes due in: |  |
Weighted - average rate | 2.67% |
Discount notes |  |
Due within one year: |  |
Outstanding, Amount | $ 1,874,562 | $ 2,167,258
Outstanding, Weighted - average rate | 4.24% | 4.42%
Average Outstanding, Amount | $ 2,015,154 | $ 1,928,884
Average Outstanding, Weighted - average rate (as a percent) | 4.32% | 5.11%
Medium-term notes |  |
Due within one year: |  |
Outstanding, Amount | $ 2,813,359 | $ 2,343,264
Outstanding, Weighted - average rate | 4.45% | 4.64%
Average Outstanding, Amount | $ 2,339,633 | $ 1,000,290
Average Outstanding, Weighted - average rate (as a percent) | 5.37% | 5.28%
Medium-term notes due in: |  |
Two years |  | $ 4,844,538
Three years |  | 3,822,999
Four years |  | 2,732,980
Five years |  | 2,491,831
Thereafter |  | 3,190,202
Total due after one year |  | $ 17,082,550
Weighted - average rate |  | 3.34%
Total weighted - average rate |  | 3.51%
Medium-term notes | Two years |  |
Medium-term notes due in: |  |
Weighted - average rate |  | 2.66%
Medium-term notes | Three years |  |
Medium-term notes due in: |  |
Weighted - average rate |  | 3.53%
Medium-term notes | Four years |  |
Medium-term notes due in: |  |
Weighted - average rate |  | 4.13%
Medium-term notes | Five years |  |
Medium-term notes due in: |  |
Weighted - average rate |  | 4.41%
Medium-term notes | Thereafter |  |
Medium-term notes due in: |  |
Weighted - average rate |  | 2.63%
Current portion of medium-term notes |  |
Due within one year: |  |
Outstanding, Amount | $ 5,420,306 | $ 5,927,101
Outstanding, Weighted - average rate | 2.91% | 3.20%

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