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Debt (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of debt instruments

The table below summarizes the Company's key terms and carrying value of debt as of the periods indicated:

			December 31, 2023																								December 31, 2022
			Outstanding Borrowings (in thousands)						Contractual Weighted Avg Interest Rate						Maturity Range												Outstanding Borrowings (in thousands)
															From						To
Secured Debt Financings
Asset-backed securitization term instruments			$	2,579,832					2.04		%				February 2028						February 2031						$	2,890,467
Asset-backed securitization warehouse			240,000						6.96		%				April 2029						April 2029						320,000
Total secured debt financings			2,819,832																								3,210,467
Unsecured Debt Financings
Senior notes			2,300,000						2.45		%				June 2024						March 2032						2,900,000
Term loan facility			1,468,496						6.71		%				May 2026						May 2026						1,080,000
Revolving credit facility			930,000						6.71		%				October 2027						October 2027						945,000
Total unsecured debt financings			4,698,496																								4,925,000
Total debt financings			7,518,328																								8,135,467
Unamortized debt costs			(43,924)																								(55,863)
Unamortized debt premiums & discounts			(3,770)																								(4,784)
Debt, net of unamortized costs			$	7,470,634																							$	8,074,820

The following table summarizes the Company's outstanding fixed-rate and floating-rate debt as of December 31, 2023:

			Balance Outstanding (in thousands)						Contractual Weighted Avg Interest Rate						Maturity Range												Weighted Avg Remaining Term
															From						To
Excluding impact of derivative instruments:
Fixed-rate debt			$4,879,832						2.23%						Jun 2024						Mar 2032						4.2 years
Floating-rate debt			$2,638,496						6.73%						May 2026						Apr 2029						3.0 years
Including impact of derivative instruments:
Fixed-rate debt			$4,879,832						2.23%
Hedged floating-rate debt			1,847,000						4.00%
Total fixed and hedged debt			6,726,832						2.72%
Unhedged floating-rate debt			791,496						6.73%
Total debt outstanding			$7,518,328						3.13%

Schedule of Maturities of Debt

At December 31, 2023, the Company's scheduled principal repayments and maturities were as follows (in thousands):

Years ending December 31,
2024			$	953,357
2025			470,517
2026			2,119,575
2027			1,317,992
2028			591,830
2029 and thereafter			2,065,057
Total debt outstanding			$	7,518,328

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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.

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- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 470
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481544/470-10-50-1

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