Fair Value (Tables)

9 Months Ended

Sep. 27, 2020

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured At Fair Value On A Recurring Basis

The Company’s assets and liabilities measured at fair value on a recurring basis were as follows (in thousands):

	September 27, 2020
	Balance		Level 1		Level 2
Assets:
Cash equivalents	$	3,250,891	$	3,150,891	$	100,000
Marketable securities	48,845		48,845		—
Derivative financial instruments	60,849		—		60,849
	$	3,360,585	$	3,199,736	$	160,849
Liabilities:
Derivative financial instruments	$	13,397	$	—	$	13,397

	December 31, 2019
	Balance		Level 1		Level 2
Assets:
Cash equivalents	$	624,832	$	459,885	$	164,947
Marketable securities	52,575		52,575		—
Derivative financial instruments	12,649		—		12,649
	$	690,056	$	512,460	$	177,596
Liabilities:
Derivative financial instruments	$	13,934	$	—	$	13,934
	September 29, 2019
	Balance		Level 1		Level 2
Assets:
Cash equivalents	$	624,789	$	496,900	$	127,889
Marketable securities	49,821		49,821		—
Derivative financial instruments	11,971		—		11,971
	$	686,581	$	546,721	$	139,860
Liabilities:
Derivative financial instruments	$	12,589	$	—	$	12,589

Summary of The Fair Value and Carrying Value of The Company's Financial Instruments

The fair value and carrying value of the Company’s remaining financial instruments that are measured at cost or amortized cost were as follows (in thousands):

	September 27, 2020				December 31, 2019				September 29, 2019
	Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value
Assets:
Finance receivables, net	$	6,954,661	$	6,843,492	$	7,419,627	$	7,374,366	$	7,561,797	$	7,515,580
Liabilities:
Deposits	$	29,999	$	29,999	$	—	$	—	$	—	$	—
Debt:
Unsecured commercial paper	$	1,077,763	$	1,077,763	$	571,995	$	571,995	$	1,013,137	$	1,013,137
364-day credit facility borrowings	$	150,000	$	150,000	$	—	$	—	$	—	$	—
Asset-backed U.S. commercial paper conduit facilities	$	467,338	$	467,338	$	490,427	$	490,427	$	552,757	$	552,757
Asset-backed Canadian commercial paper conduit facility	$	127,500	$	127,500	$	114,693	$	114,693	$	128,368	$	128,368
Asset-backed securitization debt	$	2,123,715	$	2,096,355	$	768,094	$	764,392	$	877,423	$	872,871
Medium-term notes	$	4,895,006	$	4,845,961	$	4,816,153	$	4,760,127	$	4,138,941	$	4,089,591
Senior notes	$	798,411	$	743,806	$	774,949	$	743,296	$	773,434	$	743,127