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Debt (Tables) | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Schedule of long-term debt instruments | The following table summarizes the Company's outstanding fixed-rate and floating-rate debt as of December 31, 2019 (in thousands):
| Balance Outstanding |  | Contractual Weighted Avg Interest Rate |  | Maturity Range |  | Weighted Avg Remaining Term
|  |  | From |  | To |
Excluding impact of derivative instruments: |  |  |  |  |  |  |  |  |
Fixed-rate debt | $3,984,316 |  | 4.23% |  | Apr 2020 |  | Jun 2029 |  | 3.4 years
Floating-rate debt | $2,699,846 |  | 3.38% |  | Apr 2022 |  | Dec 2025 |  | 3.6 years
Including impact of derivative instruments: |  |  |  |  |  |  |  |  |
Fixed-rate debt | $3,984,316 |  | 4.23% |  |  |  |  |  |
Hedged floating-rate debt | 1,799,204 |  | 3.60% |  |  |  |  |  |
Total fixed and hedged debt | 5,783,520 |  | 4.04% |  |  |  |  |  |
Unhedged floating-rate debt | 900,642 |  | 3.38% |  |  |  |  |  |
Total | $6,684,162 |  | 3.95% |  |  |  |  |  |
The table below summarizes the Company's key terms and carrying value of debt (in thousands):
| Contractual Weighted Avg Interest Rate(1) |  | Maturity Range(1) |  | December 31, 2019 |  | December 31, 2018
|  | From |  | To |  |
Institutional notes | 4.65% |  | Apr 2020 |  | Jun 2029 |  | $ | 1,957,557 |  |  | $ | 2,198,200 |
Asset-backed securitization term notes | 3.69% |  | May 2022 |  | Jun 2028 |  | 2,719,206 |  |  | 3,063,821 |
Term loan facilities | 3.32% |  | Apr 2022 |  | Nov 2023 |  | 1,200,375 |  |  | 1,543,375 |
Asset-backed securitization warehouse | 3.51% |  | Dec 2025 |  | Dec 2025 |  | 370,000 |  |  | 340,000 |
Revolving credit facilities | 3.45% |  | Sep 2023 |  | Jul 2024 |  | 410,000 |  |  | 375,000 |
Finance lease obligations | 4.92% |  | Feb 2024 |  | Feb 2024 |  | 27,024 |  |  | 75,526 |
Total debt outstanding |  |  |  |  |  |  | 6,684,162 |  |  | 7,595,922 |
Unamortized debt costs |  |  |  |  |  |  | (39,781 | ) |  | (44,889 | )
Unamortized debt premiums & discounts |  |  |  |  |  |  | (4,065 | ) |  | (5,293 | )
Unamortized fair value debt adjustment |  |  |  |  |  |  | (8,791 | ) |  | (16,308 | )
Debt, net of unamortized costs |  |  |  |  |  |  | $ | 6,631,525 |  |  | $ | 7,529,432 |
(1) Data as of December 31, 2019.
Schedule of debt instruments |
Years ending December 31, |
2020 | $ | 822,537 |
2021 | 827,125 |
2022 | 1,048,929 |
2023 | 1,638,092 |
2024 | 1,052,157 |
2025 and thereafter | 1,268,298 |
Total | $ | 6,657,138 |
Years ending December 31, |
2020 | $ | 4,370 |
2021 | 4,370 |
2022 | 4,370 |
2023 | 4,370 |
2024 | 13,239 |
2025 and thereafter | — |
Total future payments | 30,719 |
Less: amount representing interest | (3,695 | )
Finance lease obligations | $ | 27,024 |

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