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Debt (Tables) | 9 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
Schedule of debt | 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) |  | September 30, 2021 |  | December 31, 2020
|  | From |  | To |  |
Institutional notes | —% |  | — |  | — |  | $ | — |  |  | $ | 1,642,314 |
Asset-backed securitization term notes | 1.98% |  | August 2023 |  | February 2031 |  | 3,893,421 |  |  | 2,920,807 |
Corporate notes | 1.82% |  | August 2023 |  | June 2031 |  | 2,300,000 |  |  | — |
Term loan facilities | 1.58% |  | July 2024 |  | May 2026 |  | 1,023,600 |  |  | 840,000 |
Asset-backed securitization warehouse | 1.94% |  | November 2027 |  | November 2027 |  | 320,000 |  |  | 264,000 |
Revolving credit facilities | 1.62% |  | May 2024 |  | July 2026 |  | 755,000 |  |  | 760,500 |
Finance lease obligations | 4.93% |  | February 2022 |  | February 2022 |  | 15,619 |  |  | 17,304 |
Total debt outstanding |  |  |  |  |  |  | 8,307,640 |  |  | 6,444,925 |
Unamortized debt costs |  |  |  |  |  |  | (62,630) |  |  | (42,747) |
Unamortized debt premiums & discounts |  |  |  |  |  |  | (3,738) |  |  | (599) |
Unamortized fair value debt adjustment |  |  |  |  |  |  | (32) |  |  | 1,691 |
Debt, net of unamortized costs |  |  |  |  |  |  | $ | 8,241,240 |  |  | $ | 6,403,270 |
(1) Data as of September 30, 2021. The following table summarizes the Company's outstanding fixed-rate and floating-rate debt as of September 30, 2021 (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 | $5,591,500 |  | 1.96% |  | Feb 2022 |  | Jun 2031 |  | 5.0 years
Floating-rate debt | $2,716,141 |  | 1.65% |  | Aug 2023 |  | Nov 2027 |  | 3.2 years
Including impact of derivative instruments: |  |  |  |  |  |  |  |  |
Fixed-rate debt | $5,591,500 |  | 1.96% |  |  |  |  |  |
Hedged floating-rate debt | $1,654,103 |  | 3.58% |  |  |  |  |  |
Total fixed and hedged debt | $7,245,603 |  | 2.33% |  |  |  |  |  |
Unhedged floating-rate debt | $1,062,037 |  | 1.65% |  |  |  |  |  |
Total | $8,307,640 |  | 2.24% |  |  |  |  |  |
Schedule of debt offerings | The Company issued the following corporate notes during the nine months ended September 30, 2021:
Date |  | Total Offering |  |  | Contractual Weighted Avg Interest Rate |  | Maturity
April 15, 2021 |  | $600.0 Million |  |  | 2.05% |  | Apr 2026
June 7, 2021 |  | $500.0 Million |  |  | 1.15% |  | Jun 2024
June 7, 2021 |  | $600.0 Million |  |  | 3.15% |  | Jun 2031
August 6, 2021 |  | $600.0 Million |  |  | 0.80% |  | Aug 2023
Date |  | Total Offering |  |  | Contractual Weighted Avg Interest Rate |  | Expected Maturity
February 3, 2021 |  | $502.9 Million |  |  | 1.69% |  | Feb 2031
March 17, 2021 |  | $725.0 Million |  |  | 1.89% |  | Dec 2030

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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