Debt (Tables)

9 Months Ended

Sep. 26, 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):

	September 26, 2021		December 31, 2020		September 27, 2020
Unsecured commercial paper	$	749,620	$	1,014,274	$	1,077,763
364-day credit facility borrowings	—		—		150,000
	$	749,620	$	1,014,274	$	1,227,763

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): 

			September 26, 2021		December 31, 2020		September 27, 2020
Secured debt:
Asset-backed Canadian commercial paper conduit facility			$	98,310	$	116,678	$	127,500
Asset-backed U.S. commercial paper conduit facilities			242,254		402,205		467,338
Asset-backed securitization debt			1,961,571		1,800,393		2,106,258
Unamortized discounts and debt issuance costs			(9,203)		(8,437)		(9,903)
			2,292,932		2,310,839		2,691,193
Unsecured notes (at par value):
Medium-term notes:
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
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	%	756,763		797,206		760,890
Due in 2024, issued November 2019(b)	3.14	%	698,550		735,882		702,360
Due in 2025, issued June 2020	3.35	%	700,000		700,000		700,000
Unamortized discounts and debt issuance costs			(10,649)		(15,374)		(17,289)
			3,444,664		4,917,714		4,845,961

			September 26, 2021		December 31, 2020		September 27, 2020
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			(5,506)		(6,023)		(6,194)
			744,494		743,977		743,806
			4,189,158		5,661,691		5,589,767
Long-term debt			6,482,090		7,972,530		8,280,960
Current portion of long-term debt, net			(1,605,798)		(2,039,597)		(2,109,284)
Long-term debt, net			$	4,876,292	$	5,932,933	$	6,171,676

(a)Euro denominated, €650.0 million par value remeasured to U.S. dollar at September 26, 2021, December 31, 2020, and September 27, 2020, respectively

(b)Euro denominated, €600.0 million par value remeasured to U.S. dollar at September 26, 2021, December 31, 2020, and September 27, 2020, respectively

Schedule of Maturities of Long-term Debt

The Company's future principal payments on debt obligations as of September 26, 2021 were as follows (in thousands):

2021	$	970,079
2022	1,615,337
2023	1,752,575
2024	1,150,272
2025	1,384,747
Thereafter	384,058
	$	7,257,068