XML 99 R73.htm IDEA: XBRL DOCUMENT v3.25.0.1
Long-Term Debt - Narrative (Details)
1 Months Ended 3 Months Ended 12 Months Ended
Aug. 31, 2022
USD ($)
renewalPeriod
Dec. 31, 2022
USD ($)
Dec. 31, 2024
USD ($)
extensionTerm
renewalPeriod
Rate
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Apr. 17, 2023
USD ($)
Feb. 16, 2023
USD ($)
Aug. 12, 2022
USD ($)
Mar. 31, 2021
USD ($)
Jun. 05, 2019
USD ($)
tranche
Debt Instrument [Line Items]                    
Repayments of long-term debt     $ 0 $ 651,713,000 $ 38,768,000          
Debt repurchase program, maximum amount authorized             $ 100,000,000      
Threshold percentage     50.00%              
Cash sweeping event | Rate     175.00%              
Rapid amortization event | Rate     120.00%              
Manager termination event | Rate     120.00%              
Interest-only debt service coverage ratio, default event | Rate     110.00%              
Debt service coverage ratio | Rate     340.00%              
Gain (loss) on extinguishment of debt     $ 0 $ (10,000) 210,000          
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II and Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I                    
Debt Instrument [Line Items]                    
Number of tranches issued | tranche                   2
Series 2019-1 4.194% Fixed Rate Senior Secured Notes, Class A-2-I                    
Debt Instrument [Line Items]                    
Debt interest rate (in percent)                   4.194%
Debt instrument, face amount                   $ 700,000,000
Series 2019-1 4.723% Fixed Rate Senior Secured Notes, Class A-2-II                    
Debt Instrument [Line Items]                    
Debt interest rate (in percent)     4.723% 4.723%           4.723%
Debt instrument, face amount                   $ 600,000,000
Series 2022-1 Variable Funding Senior Secured Notes, Class A-1, variable interest rate of 7.14% and 7.95% at December 31, 2024 and December 31, 2023, respectively                    
Debt Instrument [Line Items]                    
Debt interest rate (in percent)     7.14% 7.95%            
Series 2022-1 Variable Funding Senior Secured Notes, Class A-1, variable interest rate of 7.14% and 7.95% at December 31, 2024 and December 31, 2023, respectively | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Line of credit facility, maximum borrowing capacity $ 325,000,000             $ 325,000,000    
Number of renewal periods | renewalPeriod 2   2              
Renewal period term (in years) 1 year   1 year              
Interest rate percentage after renewal date     5.00%              
Proceeds from long-term lines of credit     $ 100,000,000              
Letters of credit outstanding     600,000              
Line of credit facility, current borrowing capacity     $ 224,400,000              
Debt, weighted average interest rate (in percent)     7.78%              
Debt issuance costs, gross $ 6,300,000                  
Number of additional extensions | extensionTerm     2              
Additional extension (in years)     1 year              
Series 2022-1 Variable Funding Senior Secured Notes, Class A-1, variable interest rate of 7.14% and 7.95% at December 31, 2024 and December 31, 2023, respectively | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR)                    
Debt Instrument [Line Items]                    
Basis spread on variable rate (in percent) 2.50%                  
Series 2022-1 Variable Funding Senior Secured Notes, Class A-1, variable interest rate of 7.14% and 7.95% at December 31, 2024 and December 31, 2023, respectively | Letter of Credit | Secured Overnight Financing Rate (SOFR)                    
Debt Instrument [Line Items]                    
Basis spread on variable rate (in percent) 0.50%                  
Series 2022-1 Variable Funding Senior Secured Notes, Class A-1, variable interest rate of 7.14% and 7.95% at December 31, 2024 and December 31, 2023, respectively | Letter of Credit | Federal Funds Rate                    
Debt Instrument [Line Items]                    
Basis spread on variable rate (in percent) 0.50%                  
Series 2022-1 Variable Funding Senior Secured Notes, Class A-1, variable interest rate of 7.14% and 7.95% at December 31, 2024 and December 31, 2023, respectively | Letter of Credit | Base Rate                    
Debt Instrument [Line Items]                    
Basis spread on variable rate (in percent) 2.00%                  
Series 2019-1 Variable Funding Senior Notes Class A-1 | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Line of credit facility, maximum borrowing capacity $ 225,000,000                  
Line of credit facility, expired amount               $ 225,000,000    
Line of credit facility, amount outstanding                 $ 0  
Amortization costs         400,000          
Gain (loss) on extinguishment of debt         (1,200,000)          
Series 2019-1 Variable Funding Senior Notes Class A-1 | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)                    
Debt Instrument [Line Items]                    
Basis spread on variable rate (in percent)     2.15%              
Line of credit facility, percentage of advances drawn     60.00%              
Series 2019-1 Variable Funding Senior Notes Class A-1 | Revolving Credit Facility | Commercial Paper Funding Rate Of Conduit Investor                    
Debt Instrument [Line Items]                    
Basis spread on variable rate (in percent)     2.15%              
Line of credit facility, percentage of advances drawn     40.00%              
Series 2023-1 7.824% Fixed Rate Senior Secured Notes, Class A-2                    
Debt Instrument [Line Items]                    
Debt interest rate (in percent)     7.824%     7.824%        
Debt instrument, face amount           $ 500,000,000        
Additional interest on fixed rate (in percent)     5.00%              
Debt instrument, term (in years)     10 years              
Debt instrument, periodic payment, principal     $ 1,250,000              
Covenant compliance, leverage ratio, maximum | Rate     525.00%              
Ratio of indebtedness to net capital | Rate     410.00%              
Debt instrument, make-whole premium     $ 28,000,000.0              
Debt instrument, annual principal payment     $ 5,000,000              
Series 2023-1 7.824% Fixed Rate Senior Secured Notes, Class A-2 | Ten Year United States Treasury Bill Rate                    
Debt Instrument [Line Items]                    
Additional interest on fixed rate (in percent)     9.24%              
Series 2023-1 7.824% Fixed Rate Senior Secured Notes, Class A-2 | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Debt issuance costs, gross     $ 8,000,000              
Amortization costs     1,100,000 $ 700,000            
Debt issuance costs, net     $ 6,200,000              
Class A-2-I Notes                    
Debt Instrument [Line Items]                    
Repayments of long-term debt       585,100,000            
Gain (loss) on extinguishment of debt       (1,700,000)            
2019 Class A-2 Notes                    
Debt Instrument [Line Items]                    
Additional interest on fixed rate (in percent)     5.00%              
Debt instrument, term (in years)     10 years              
Debt instrument, periodic payment, principal     $ 1,500,000              
Covenant compliance, leverage ratio, maximum | Rate     525.00%              
Ratio of indebtedness to net capital | Rate     410.00%              
Debt issuance costs, gross     $ 12,900,000              
Amortization costs     1,000,000.0 1,600,000 2,400,000          
Gain (loss) on extinguishment of debt       1,700,000 1,400,000          
Extinguishment of debt   $ 40,000,000   67,900,000            
Debt instrument, annual principal payment     $ 6,000,000              
2019 Class A-2 Notes | Ten Year United States Treasury Bill Rate                    
Debt Instrument [Line Items]                    
Additional interest on fixed rate (in percent)     7.64%              
Series 2022-1 Variable Funding Senior Notes Class A-1 | Revolving Credit Facility                    
Debt Instrument [Line Items]                    
Amortization costs     $ 1,200,000 $ 1,200,000 $ 400,000          
Debt issuance costs, net     3,400,000              
2019 Class A-2-II Notes                    
Debt Instrument [Line Items]                    
Debt issuance costs, net     $ 1,300,000