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Debt
6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]  
Debt Debt
Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following (in thousands):
June 30,
2024
December 31,
2023
June 30,
2023
Unsecured commercial paper$497,792 $878,935 $695,356 
Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands): 
June 30,
2024
December 31,
2023
June 30,
2023
Secured debt:
Asset-backed Canadian commercial paper conduit facility$91,379 $70,742 $84,269 
Asset-backed U.S. commercial paper conduit facility435,930 233,258 318,406 
Asset-backed securitization debt1,928,141 1,884,629 1,932,779 
Unamortized discounts and debt issuance costs(6,733)(7,261)(8,234)
2,448,717 2,181,368 2,327,220 
Unsecured notes (at par value):
Medium-term notes:
Due in 2024, issued November 2019(a)
3.14 %642,786 662,238 653,484 
Due in 2025, issued June 20203.35 %700,000 700,000 700,000 
Due in 2026, issued April 2023(b)
6.36 %749,917 772,610 762,398 
Due in 2027, issued February 20223.05 %500,000 500,000 500,000 
Due in 2028, issued March 20236.50 %700,000 700,000 700,000 
Due in 2029, issued June 20245.95 %500,000 — — 
Unamortized discounts and debt issuance costs(16,643)(15,710)(18,878)
3,776,060 3,319,138 3,297,004 
Senior notes:
Due in 2025, issued July 20153.50 %450,000 450,000 450,000 
Due in 2045, issued July 20154.625 %300,000 300,000 300,000 
Unamortized discounts and debt issuance costs(3,562)(3,921)(4,278)
746,438 746,079 745,722 
4,522,498 4,065,217 4,042,726 
Long-term debt6,971,215 6,246,585 6,369,946 
Current portion of long-term debt, net(2,021,344)(1,255,999)(604,700)
Long-term debt, net$4,949,871 $4,990,586 $5,765,246 
(a)€600.0 million par value remeasured to U.S. dollar at June 30, 2024, December 31, 2023, and June 30, 2023, respectively
(b)€700.0 million par value remeasured to U.S. dollar at June 30, 2024, December 31, 2023, and June 30, 2023, respectively
Future principal payments of the Company's debt obligations as of June 30, 2024 were as follows (in thousands):
2024$1,549,180 
20251,822,509 
20261,431,918 
2027985,174 
2028906,942 
Thereafter800,222 
Future principal payments7,495,945 
Unamortized discounts and debt issuance costs(26,938)
$7,469,007