v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Assets    
Cash and cash equivalents $ 249,921 $ 110,218
Equity method investments 4,782,318 4,115,909
Receivables, net of allowance of $56 million and $62 million, respectively ($1.0 billion and $629 million from equity method investees, respectively) 3,145,473 3,280,046
Receivables held-for-sale (includes $51 million under fair value option as of June 30, 2026) 72,804 113,938
Real estate and available-for-sale debt securities 74,887 76,291
Retained interests in securitization trusts, net of allowance of $3 million and $3 million, respectively 332,201 299,739
Other assets 283,389 191,824
Total Assets 8,940,993 8,187,965
Liabilities:    
Accounts payable, accrued expenses and other 390,304 380,702
Credit facilities 1,320 46,184
Commercial paper notes 112 225,212
Term loans payable 476,395 386,391
Senior notes 3,805,097 3,466,048
Junior subordinated notes 1,093,830 497,560
Convertible notes 404,330 403,438
Total Liabilities 6,290,943 5,530,096
Stockholders’ Equity:    
Preferred stock, par value $0.01 per share, 50,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, par value $0.01 per share, 450,000,000 shares authorized, 127,945,053 and 127,644,496 shares issued and outstanding, respectively 1,279 1,276
Additional paid-in capital 2,857,351 2,849,597
Accumulated deficit (375,894) (323,071)
Accumulated other comprehensive income (loss) 59,216 47,076
Non-controlling interest 108,098 82,991
Total Stockholders’ Equity 2,650,050 2,657,869
Total Liabilities and Stockholders’ Equity 8,940,993 8,187,965
Non-recourse debt    
Liabilities:    
Non-recourse debt (secured by assets of $302 million and $311 million, respectively) $ 119,555 $ 124,561