Fair Value (Tables)

3 Months Ended

Mar. 28, 2021

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):

	March 28, 2021
	Balance		Level 1		Level 2
Assets:
Cash equivalents	$	2,069,400	$	1,919,400	$	150,000
Marketable securities	50,239		50,239		—
Derivative financial instruments	81,841		—		81,841
	$	2,201,480	$	1,969,639	$	231,841
Liabilities:
Derivative financial instruments	$	6,726	$	—	$	6,726
	December 31, 2020
	Balance		Level 1		Level 2
Assets:
Cash equivalents	$	3,019,884	$	2,819,884	$	200,000
Marketable securities	52,061		52,061		—
Derivative financial instruments	140,266		—		140,266
	$	3,212,211	$	2,871,945	$	340,266
Liabilities:
Derivative financial instruments	$	25,521	$	—	$	25,521
	March 29, 2020
	Balance		Level 1		Level 2
Assets:
Cash equivalents	$	1,207,799	$	1,144,800	$	62,999
Marketable securities	44,144		44,144		—
Derivative financial instruments	14,683		—		14,683
	$	1,266,626	$	1,188,944	$	77,682
Liabilities:
Derivative financial instruments	$	56,976	$	—	$	56,976

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):

	March 28, 2021				December 31, 2020				March 29, 2020
	Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value
Assets:
Finance receivables, net	$	6,930,531	$	6,756,777	$	6,586,348	$	6,443,008	$	7,391,948	$	7,292,407
Liabilities:
Deposits, net	$	152,715	$	152,653	$	79,965	$	79,965	$	—	$	—
Debt:
Unsecured commercial paper	$	749,801	$	749,801	$	1,014,274	$	1,014,274	$	1,335,664	$	1,335,664
Global credit facility borrowings	$	15,462	$	15,462	$	—	$	—	$	—	$	—
Asset-backed U.S. commercial paper conduit facilities	$	350,648	$	350,648	$	402,205	$	402,205	$	600,000	$	600,000
Asset-backed Canadian commercial paper conduit facility	$	102,543	$	102,543	$	116,678	$	116,678	$	155,243	$	155,243
Asset-backed securitization debt	$	2,120,855	$	2,099,258	$	1,817,892	$	1,791,956	$	1,139,076	$	1,156,845
Medium-term notes	$	3,955,743	$	3,803,736	$	5,118,928	$	4,917,714	$	4,013,409	$	4,148,984
Senior notes	$	789,967	$	744,149	$	828,141	$	743,977	$	685,805	$	743,466