Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

Schedule of Principal Contractual Obligations

Our contractual principal debt repayments as of March 31, 2024 were as follows ($ in thousands):

Year	Secured Debt(1)		Asset-Specific Debt(1)		Term Loans(2)		Senior Secured Notes		Convertible Notes(3)		Total(4)
2024 (remaining)	$	2,232,905	$	—	$	16,497	$	—	$	—	$	2,249,402
2025	1,661,438		848,368		21,997		—		—		2,531,803
2026	4,042,308		—		1,302,575		—		—		5,344,883
2027	3,251,934		—		8,258		339,918		300,000		3,900,110
2028	524,681		—		8,258		—		—		532,939
Thereafter	690,183		216,116		772,138		—		—		1,678,437
Total obligation	$	12,403,449	$	1,064,484	$	2,129,723	$	339,918	$	300,000	$	16,237,574

(1)Our secured debt and asset-specific debt agreements are generally term-matched to their underlying collateral. Therefore, the allocation of payments under such agreements is generally allocated based on the maximum maturity date of the collateral loans, assuming all extension options are exercised by the borrower. In limited instances, the maturity date of the respective debt agreement is used.

(2)The Term Loans are partially amortizing, with an amount equal to 1.0% per annum of the initial principal balance due in quarterly installments. Refer to Note 10 for further details on our Term Loans.

(3)Reflects the outstanding principal balance of Convertible Notes, excluding any potential conversion premium. Refer to Note 12 for further details on our Convertible Notes.

(4)Total does not include $2.3 billion of consolidated securitized debt obligations, $742.6 million of non-consolidated senior interests, and $335.3 million of loan participations sold, as the satisfaction of these liabilities will not require cash outlays from us.