| Long-term and Other Borrowings |
The Company’s outstanding corporate debt and other borrowings, net were as follows (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | December 31, 2025 | | | Corporate Debt | Balance | Applicable Margin | Interest Rate | Balance | Applicable Margin | Interest rate | Maturity | Term Loan A(1) | $ | 1,020,000 | | SOFR+125 bps | 4.925 | % | $ | 1,020,000 | | SOFR+125 bps | 4.984 | % | 12/5/2028 | 2027 Senior Notes(1) | 500,000 | | Fixed Rate | 5.700 | % | 500,000 | | Fixed Rate | 5.700 | % | 5/20/2027 | 2027 Senior Notes(1) | 400,000 | | Fixed Rate | 4.625 | % | 400,000 | | Fixed Rate | 4.625 | % | 11/15/2027 | 2028 Senior Notes(1) | 500,000 | | Fixed Rate | 4.900 | % | 500,000 | | Fixed Rate | 4.900 | % | 4/3/2028 | 2028 Senior Notes(1) | 750,000 | | Fixed Rate | 6.750 | % | 750,000 | | Fixed Rate | 6.750 | % | 11/17/2028 | 2029 Senior Notes(1) | 900,000 | | Fixed Rate | 4.000 | % | 900,000 | | Fixed Rate | 4.000 | % | 3/15/2029 | 2030 Senior Notes(1) | 750,000 | | Fixed Rate | 5.200 | % | 750,000 | | Fixed Rate | 5.200 | % | 3/15/2030 | 2030 Senior Notes(1) | 500,000 | | Fixed Rate | 5.150 | % | 500,000 | | Fixed Rate | 5.150 | % | 6/15/2030 | 2031 Senior Notes(1) | 400,000 | | Fixed Rate | 4.375 | % | 400,000 | | Fixed Rate | 4.375 | % | 5/15/2031 | 2034 Senior Notes(1) | 500,000 | | Fixed Rate | 6.000 | % | 500,000 | | Fixed Rate | 6.000 | % | 5/20/2034 | 2035 Senior Notes(1) | 500,000 | | Fixed Rate | 5.650 | % | 500,000 | | Fixed Rate | 5.650 | % | 3/15/2035 | 2035 Senior Notes(1) | 500,000 | | Fixed Rate | 5.750 | % | 500,000 | | Fixed Rate | 5.750 | % | 6/15/2035 | | Total Corporate Debt | 7,220,000 | | | | 7,220,000 | | | | | | Less: Unamortized Debt Issuance Cost | (37,898) | | | | (40,306) | | | | | | Corporate debt, net | $ | 7,182,102 | | | | $ | 7,179,694 | | | | | | Other Borrowings | | | | | | | | Revolving Credit Facility | — | | ABR+37.5 bps / SOFR+147.5 bps | 5.140 | % | 79,000 | | ABR+37.5 bps / SOFR+147.5 bps | 5.634 | % | 5/20/2029 | | Total other borrowings | $ | — | | | | $ | 79,000 | | | | | | Corporate Debt and Other Borrowings, Net | $ | 7,182,102 | | | | $ | 7,258,694 | | | | |
_______________________________ (1)No leverage or interest coverage maintenance covenants.
The following table presents amounts outstanding and available under the Company’s external lines of credit at March 31, 2026 (in millions): | | | | | | | | | | | | | | | | Description | Borrower | Maturity Date | Outstanding | Available | Senior unsecured, revolving credit facility | LPL Holdings, Inc. | May 2029 | $ | — | | $ | 2,249 | | | Broker-dealer revolving credit facility | LPL Financial LLC | May 2026 | $ | — | | $ | 1,000 | | | Unsecured, uncommitted lines of credit | LPL Financial LLC | None | $ | — | | $ | 75 | | | Unsecured, uncommitted lines of credit | LPL Financial LLC | September 2026 | $ | — | | $ | 50 | | | Secured, uncommitted lines of credit | LPL Financial LLC | March 2028 | $ | — | | $ | 75 | | | Secured, uncommitted lines of credit | LPL Financial LLC | None | $ | — | | unspecified | | Secured, uncommitted lines of credit | LPL Financial LLC | None | $ | — | | unspecified |
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