| Summary of Debt and Finance Leases |
The following is a summary of our debt and finance leases as of March 31, 2024 (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net Carrying Value | | Unpaid
Principal
Balance | | Unused
Committed
Amount (1) | | Contractual
Interest Rates | | Contractual
Maturity Date | | | Current | | Long-Term | | | | | | Recourse debt: | | | | | | | | | | | | | 2024 Notes | $ | 21 | | | $ | — | | | $ | 21 | | | $ | — | | | 2.00 | % | | May 2024 | | RCF Credit Agreement | — | | | — | | | — | | | 5,000 | | | Not applicable | | January 2028 | | Solar Bonds | 1 | | | 6 | | | 7 | | | — | | | 4.70-5.75% | | March 2025-January 2031 | | Other | 26 | | | — | | | 26 | | | — | | | 5.20 | % | | December 2026 | | Total recourse debt | 48 | | | 6 | | | 54 | | | 5,000 | | | | | | | Non-recourse debt: | | | | | | | | | | | | | Automotive Asset-backed Notes | 2,054 | | | 2,405 | | | 4,475 | | | — | | | 0.60-6.57% | | December 2024-May 2031 | | Solar Asset-backed Notes | 4 | | | 7 | | | 12 | | | — | | | 4.80 | % | | December 2026 | | Cash Equity Debt | 29 | | | 321 | | | 359 | | | — | | | 5.25-5.81% | | July 2033-January 2035 | | Total non-recourse debt | 2,087 | | | 2,733 | | | 4,846 | | | — | | | | | | | Total debt | 2,135 | | | 2,739 | | | $ | 4,900 | | | $ | 5,000 | | | | | | | Finance leases | 326 | | | 160 | | | | | | | | | | | Total debt and finance leases | $ | 2,461 | | | $ | 2,899 | | | | | | | | | |
The following is a summary of our debt and finance leases as of December 31, 2023 (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Net Carrying Value | | Unpaid
Principal
Balance | | Unused
Committed
Amount (1) | | Contractual
Interest Rates | | Contractual
Maturity Date | | Current | | Long-Term | | | | | | Recourse debt: | | | | | | | | | | | | | 2024 Notes | $ | 37 | | | $ | — | | | $ | 37 | | | $ | — | | | 2.00 | % | | May 2024 | | RCF Credit Agreement | — | | | — | | | — | | | 5,000 | | | Not applicable | | January 2028 | | Solar Bonds | — | | | 7 | | | 7 | | | — | | | 4.70-5.75% | | March 2025-January 2031 | | Other | — | | | — | | | — | | | 28 | | | Not applicable | | December 2026 | | Total recourse debt | 37 | | | 7 | | | 44 | | | 5,028 | | | | | | | Non-recourse debt: | | | | | | | | | | | | | Automotive Asset-backed Notes | 1,906 | | | 2,337 | | | 4,259 | | | — | | | 0.60-6.57% | | July 2024-May 2031 | | Solar Asset-backed Notes | 4 | | | 8 | | | 13 | | | — | | | 4.80 | % | | December 2026 | | Cash Equity Debt | 28 | | | 330 | | | 367 | | | — | | | 5.25-5.81% | | July 2033-January 2035 | | Total non-recourse debt | 1,938 | | | 2,675 | | | 4,639 | | | — | | | | | | | Total debt | 1,975 | | | 2,682 | | | $ | 4,683 | | | $ | 5,028 | | | | | | | Finance leases | 398 | | | 175 | | | | | | | | | | | Total debt and finance leases | $ | 2,373 | | | $ | 2,857 | | | | | | | | | |
(1)There are no restrictions on draw-down or use for general corporate purposes with respect to any available committed funds under our RCF Credit Agreement, except certain specified conditions prior to draw-down. Refer to the notes to the consolidated financial statements included in our reporting on Form 10-K for the year ended December 31, 2023 for the terms of the facility.
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