Borrowings (Tables)

12 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Components of Long-Term Debt

Our borrowings at December 31, 2023 and 2022 were as follows:

	2023		2022
Senior Credit Facility:
Revolving credit facility, at a rate of 6.71% at December 31, 2023, and 5.80% at December 31, 2022, due 2027	$	262,000	$	148,250
Term loan facility, at a rate of 6.71% at December 31, 2023 and 5.80% at December 31 2022, due 2027	487,500		500,000
4.625% Senior Notes due 2027	500,000		500,000
4.25% Senior Notes due 2028	500,000		500,000
Securitization program, at a rate of 6.34% at December 31, 2023 and 5.11% at December 31, 2022	75,000		75,000
	1,824,500		1,723,250
Less: Unamortized debt issuance costs	(9,428)		(11,727)
	1,815,072		1,711,523
Current portion of borrowings	(87,500)		(87,500)
Long-term borrowings	$	1,727,572	$	1,624,023

Fair Value of Debt

The following table provides the fair value of our debt as of December 31, 2023 and 2022, which is valued based on Level 2 inputs within the hierarchy used to measure fair value (see Note 12 for further information):

	December 31, 2023		December 31, 2022
Fair value of debt	$	1,838,993	$	1,674,232

Aggregate Amounts of Long-Term Debt

Debt Maturities

As of December 31, 2023, the aggregate amounts of long-term debt, demand loans and debt under our securitization program that will mature during each of the next four years and thereafter were as follows:

2024	$	87,500
2025	25,000
2026	25,000
2027	1,187,000
2028 and thereafter	500,000

Schedule of Cash Flow, Supplemental Disclosures, Debt

Supplemental cash flow information

	Year Ended December 31,
	2023		2022		2021
Cash interest paid	$	100,218	$	70,918	$	73,598