v3.25.4
Debt - Schedule of Outstanding Debt (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Oct. 24, 2024
Sep. 28, 2023
Line of Credit Facility [Line Items]        
Outstanding letters of credit $ 8,535,000 $ 4,155,000    
Amount Available 1,473,102 1,577,090    
Carrying Value 7,061,721 [1] 2,576,893    
Truist Revolving Credit Facility        
Line of Credit Facility [Line Items]        
Outstanding letters of credit [2] 3,275,000 1,255,000    
Amount Available [2] 414,054 92,090    
Carrying Value [2] 2,892,631 [1] 1,161,893    
BNPP Revolving Credit Facility        
Line of Credit Facility [Line Items]        
Outstanding letters of credit 1,100,000 [3] 900,000 [3]   $ 1,100,000
Amount Available [3] 250,000 200,000    
Carrying Value [3] 850,000 [1] 700,000    
MS Revolving Credit Facility        
Line of Credit Facility [Line Items]        
Outstanding letters of credit 2,000,000 [4] 2,000,000 [4] $ 2,000,000  
Amount Available [4] 809,048 1,285,000    
Carrying Value [4] 1,193,154 [1] $ 715,000    
2028 Notes        
Line of Credit Facility [Line Items]        
Outstanding letters of credit 400,000      
Carrying Value [1] 396,958      
2030 Notes        
Line of Credit Facility [Line Items]        
Outstanding letters of credit 600,000      
Carrying Value [1] 594,052      
2029 Notes        
Line of Credit Facility [Line Items]        
Outstanding letters of credit 660,000      
Carrying Value [1] 649,041      
2031 Notes        
Line of Credit Facility [Line Items]        
Outstanding letters of credit 500,000      
Carrying Value [1] $ 485,885      
[1] The carrying value is presented net of the unamortized debt issuance costs and includes the cumulative hedging adjustments for those borrowings that are designated in a fair value hedging relationship, as applicable.
[2] Provides, under certain circumstances, a total borrowing capacity of $3,555,000. The amount available is reduced by $630 of outstanding letters of credit. The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of December 31, 2025, the Company had outstanding borrowings denominated in USD of $2,051,000, in Euros of EUR 298,800, in CAD of CAD 118,050 in GBP of GBP 79,550, in CHF of CHF 24,200, in AUD of AUD 386,250 and in NOK of NOK 90,000. As of December 31, 2024, the Company had outstanding borrowings denominated in USD of $864,000, in Euros of EUR 153,890, in CAD of CAD 59,500, in GBP of GBP 60,500 and in AUD of AUD 34,500. The amount available is reduced by $630 of outstanding letters of credit.
[3] Provides, under certain circumstances, a total borrowing capacity of $1,100,000. The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of December 31, 2025, the Company had outstanding borrowings denominated in USD of $850,000. As of December 31, 2024, the Company had outstanding borrowings denominated in USD of $700,000.
[4] Provides, under certain circumstances, a total borrowing capacity of $2,000,000. The Company may borrow amounts in USD or certain other permitted currencies. Debt outstanding denominated in currencies other than USD has been converted to USD using the applicable foreign currency exchange rate as of the applicable reporting date. As of December31, 2025, the Company had outstanding borrowings denominated in USD of $989,900, in GBP of GBP 16,050 and in AUD of AUD 272,150. As of December 31, 2024, the Company had outstanding borrowings denominated in USD of $715,000.