v3.26.1
Debt
 6 Months Ended
Jun. 30, 2026
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,
2026		December 31,
2025		June 30,
2025
Unsecured commercial paper$613,141 $497,776 $503,353 
Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands): 
June 30,
2026		December 31,
2025		June 30,
2025
Secured debt:
Asset-backed Canadian commercial paper conduit facility$— $— $60,761 
Asset-backed U.S. commercial paper conduit facility— — 461,477 
Asset-backed securitization debt— — 1,872,229 
Unamortized discounts and debt issuance costs— — (6,015)
— — 2,388,452 
June 30,
2026		December 31,
2025		June 30,
2025
Unsecured notes (at par value):
Medium-term notes:
Due in 2026, issued April 2023(a)
6.36 %— 821,814 820,393 
Due in 2027, issued February 20223.05 %500,000 500,000 500,000 
Due in 2028, issued March 20236.50 %— — 700,000 
Due in 2029, issued June 20245.95 %144,903 144,903 500,000 
Due in 2030, issued March 2025(b)
5.61 %695,870 716,152 714,914 
Unamortized discounts and debt issuance costs(8,802)(10,906)(19,542)
1,331,971 2,171,963 3,215,765 
Senior notes:
Due in 2025, issued July 20153.50 %— — 450,000 
Due in 2045, issued July 20154.625 %300,000 300,000 300,000 
Unamortized discounts and debt issuance costs(2,658)(2,722)(2,836)
297,342 297,278 747,164 
1,629,313 2,469,241 3,962,929 
Long-term debt1,629,313 2,469,241 6,351,381 
Current portion of long-term debt, net(498,466)(819,629)(1,983,828)
Long-term debt, net$1,130,847 $1,649,612 $4,367,553 

(a)€700.0 million par value remeasured to U.S. dollar at December 31, 2025 and June 30, 2025, respectively
(b)€610.0 million par value remeasured to U.S. dollar at June 30, 2026, December 31, 2025, and June 30, 2025, respectively

Future principal payments of the Company's debt obligations as of June 30, 2026 were as follows (in thousands):
2026$613,141 
2027500,000 
2028— 
2029144,903 
2030695,870 
Thereafter300,000 
Future principal payments2,253,914 
Unamortized discounts and debt issuance costs(11,460)
$2,242,454