Debt (Tables)

3 Months Ended

Mar. 28, 2021

Debt Disclosure [Abstract]

Schedule of Short-term Debt

Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following (in thousands):

	March 28, 2021		December 31, 2020		March 29, 2020
Unsecured commercial paper	$	749,801	$	1,014,274	$	1,335,664
Global credit facility borrowings	15,462		—		—
	$	765,263	$	1,014,274	$	1,335,664

Schedule of Long-term Debt Instruments

Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands): 

			March 28, 2021		December 31, 2020		March 29, 2020
Secured debt:
Asset-backed Canadian commercial paper conduit facility			$	102,543	$	116,678	$	155,243
Asset-backed U.S. commercial paper conduit facilities			350,648		402,205		600,000
Asset-backed securitization debt			2,109,046		1,800,393		1,161,047
Unamortized discounts and debt issuance costs			(9,788)		(8,437)		(4,202)
			2,552,449		2,310,839		1,912,088
Unsecured notes (at par value):
Medium-term notes:
Due in 2020, issued May 2018	LIBOR + 0.50%		—		—		450,000
Due in 2020, issued March 2017	2.40	%	—		—		350,000
Due in 2021, issued January 2016	2.85	%	—		600,000		600,000
Due in 2021, issued November 2018	LIBOR + 0.94%		—		450,000		450,000
Due in 2021, issued May 2018	3.55	%	350,000		350,000		350,000
Due in 2022, issued February 2019	4.05	%	550,000		550,000		550,000
Due in 2022, issued June 2017	2.55	%	400,000		400,000		400,000
Due in 2023, issued February 2018	3.35	%	350,000		350,000		350,000
Due in 2023, issued May 2020(a)	4.94	%	762,996		797,206		—
Due in 2024, issued November 2019(b)	3.14	%	704,304		735,882		660,030
Due in 2025, issued June 2020	3.35	%	700,000		700,000		—
Unamortized discounts and debt issuance costs			(13,564)		(15,374)		(11,046)
			3,803,736		4,917,714		4,148,984
Senior notes:
Due in 2025, issued July 2015	3.50	%	450,000		450,000		450,000
Due in 2045, issued July 2015	4.625	%	300,000		300,000		300,000
Unamortized discounts and debt issuance costs			(5,851)		(6,023)		(6,534)
			744,149		743,977		743,466
			4,547,885		5,661,691		4,892,450
Long-term debt			7,100,334		7,972,530		6,804,538
Current portion of long-term debt, net			(1,622,243)		(2,039,597)		(2,326,460)
Long-term debt, net			$	5,478,091	$	5,932,933	$	4,478,078

(a)Euro denominated, €650.0 million par value remeasured to U.S. dollar at March 28, 2021 and December 31, 2020, respectively

(b)Euro denominated, €600.0 million par value remeasured to U.S. dollar at March 28, 2021, December 31, 2020, and March 29, 2020, respectively

Schedule of Maturities of Long-term Debt

The Company's future principal payments on debt obligations as of March 28, 2021 were as follows (in thousands):

2021	$	1,670,913
2022	1,685,613
2023	1,829,349
2024	1,120,828
2025	1,287,560
Thereafter	300,537
	$	7,894,800