v3.26.1
Debt (Tables)
 12 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Components Secured and Unsecured Debt
The following table summarizes the components and terms of our secured and unsecured debt as of June 30, 2026 (in thousands):
Interest Rate (1)
Unused Commitment Fees
Maturity by Fiscal Year
Borrowing Capacity (2)
Debt Outstanding (3)
Debt Outstanding net of unamortized premiums and discount
Secured debt
Funding debt
US warehouse facilities5.27%
0.20% - 0.50%
2028 - 2032
6,075,000 2,410,629 2,393,210 
International warehouse facilities (4)
4.49%
0.30% - 0.95%
2029 - 2031
1,236,895 586,743 580,416 
Variable funding notes5.12%0.30%20321,350,000 356,944 354,923 
Sales and repurchase agreements6.90%—
2029 - 2030
—4,699 4,699 
Notes issued by securitization trusts4.85%—
2030 - 2035
5,350,000 5,350,000 5,331,229 
$14,011,895 $8,709,015 $8,664,477 
Unsecured debt
Convertible senior notes:
2026 Notes—%—2027—221,321 221,121 
2029 Notes0.75%—2030—920,000 908,461 
Revolving credit facility—%0.15%2029675,000 — — 
$675,000 $1,141,321 $1,129,581 
Total
$14,686,895 $9,850,336 $9,794,058 
(1)The stated interest rate reflects the fixed or variable interest rate in effect for each of our contractual arrangements as of June 30, 2026, weighted by the outstanding principal balance as of that date. The interest rate resets periodically for our variable rate debt, typically based on a reference rate such as Secured Overnight Financing Rate (“SOFR”), Canadian Overnight Repo Rate Average (“CORRA”) or Sterling Overnight Index Average (“SONIA”), or an alternative rate based on the cost of funds for the lender, plus any applicable spread.
(2)Represents total revolving commitment amount, inclusive of debt outstanding as of June 30, 2026.
(3)Certain loans are pledged as collateral for borrowings in our secured debt facilities, except for our sales and repurchase agreements which are collateralized by securitization notes receivable and certificates retained by the Company and classified as securities available for sale at fair value. The carrying value of these pledged assets was $9.4 billion as of June 30, 2026.
(4)As of June 30, 2026, international facilities finance loan receivables originated in Canada and the U.K.
Schedule of Aggregate Future Maturities
The aggregate future maturities of our funding debt, notes issued by securitization trusts and convertible notes consists of the following (in thousands):
June 30, 2026
2027$221,321 
2028823,665 
20291,003,629 
20302,052,952 
2031179,487 
Thereafter 5,569,282 
Total$9,850,336 
Deferred debt issuance costs(56,278)
Total funding debt, net of deferred debt issuance costs$9,794,058 
Schedule of the Interest Expense Recognized Related to the Convertible Senior Notes
The following table summarizes the interest expense recognized related to the convertible senior notes (in thousands):
June 30, 2026June 30, 2025June 30, 2024
Amortization of debt issuance costs
2026 Notes536 1,724 3,400 
2029 Notes3,336 1,764 — 
Total amortization of debt issuance costs3,871 3,488 3,400 
Coupon interest expense (1) (2)
$6,900 $3,656 $— 
Total interest expenses related to the convertible notes$10,771 $7,144 $3,400 
(1)Included in our consolidated statement of operations and comprehensive income (loss) within other income, net.
(2)The coupon interest expense is related to the 2029 Notes.