Fair Value (Tables)

9 Months Ended

Sep. 26, 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):

	September 26, 2021
	Balance		Level 1		Level 2
Assets:
Cash equivalents	$	1,753,398	$	1,503,400	$	249,998
Marketable securities	48,766		48,766		—
Derivative financial instruments	59,847		—		59,847
	$	1,862,011	$	1,552,166	$	309,845
Liabilities:
Derivative financial instruments	$	694	$	—	$	694
	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
	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

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 26, 2021				December 31, 2020				September 27, 2020
	Fair Value		Carrying Value		Fair Value		Carrying Value		Fair Value		Carrying Value
Assets:
Finance receivables, net	$	7,117,828	$	6,863,258	$	6,586,348	$	6,443,008	$	6,954,661	$	6,843,492
Liabilities:
Deposits, net	$	292,284	$	290,270	$	79,965	$	79,965	$	29,999	$	29,999
Debt:
Unsecured commercial paper	$	749,620	$	749,620	$	1,014,274	$	1,014,274	$	1,077,763	$	1,077,763
Global credit facility borrowings	$	—	$	—	$	—	$	—	$	150,000	$	150,000
Asset-backed U.S. commercial paper conduit facilities	$	242,254	$	242,254	$	402,205	$	402,205	$	467,338	$	467,338
Asset-backed Canadian commercial paper conduit facility	$	98,310	$	98,310	$	116,678	$	116,678	$	127,500	$	127,500
Asset-backed securitization debt	$	1,967,893	$	1,952,368	$	1,817,892	$	1,791,956	$	2,123,715	$	2,096,355
Medium-term notes	$	3,583,411	$	3,444,664	$	5,118,928	$	4,917,714	$	4,895,006	$	4,845,961
Senior notes	$	798,518	$	744,494	$	828,141	$	743,977	$	798,411	$	743,806