SHORT AND LONG-TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following:

December 31,	2019			2018
2.90% Notes due 2020 (2)	$	350,000		$	350,000
4.125% Notes due 2020	350,000			350,000
3.10% Notes due 2021 (2)	350,000			350,000
8.8% Debentures due 2021	84,715			84,715
3.375% Notes due 2023 (2)	500,000			500,000
2.625% Notes due 2023	250,000			250,000
2.050% Notes due 2024 (1)	300,000			—
3.20% Notes due 2025	300,000			300,000
2.30% Notes due 2026	500,000			500,000
7.2% Debentures due 2027	193,639			193,639
2.450% Notes due 2029 (1)	300,000			—
3.375% Notes due 2046	300,000			300,000
3.125% Notes due 2049 (1)	400,000			—
Finance lease obligations	79,643			101,980
Net impact of interest rate swaps, debt issuance costs and unamortized debt discounts	(23,794		)	(20,667		)
Total long-term debt	4,234,203			3,259,667
Less—current portion	703,390			5,387
Long-term portion	$	3,530,813		$	3,254,280

(1) In October 2019, we issued $300,000 of 2.05% Notes due in 2024, $300,000 of 2.45% Notes due in 2029 and $400,000 of 3.125% Notes due in 2049 (the "2019 Notes"). Proceeds from the issuance of the 2019 Notes, net of discounts and issuance costs, totaled $990,337. The 2019 Notes were issued under a shelf registration statement on Form S-3 filed in May 2018 that registered an indeterminate amount of debt securities.

(2)

In May 2018, we issued $350,000 of 2.90% Notes due in 2020, $350,000 of 3.10% Notes due in 2021 and $500,000 of 3.375% Notes due in 2023 (the "2018 Notes"). Proceeds from the issuance of the 2018 Notes, net of discounts and issuance costs, totaled $1,193,830. The 2018 Notes were issued under a shelf registration statement on Form S-3 filed in June 2015 that registered an indeterminate amount of debt securities.

Schedule of Maturities of Long-term Debt

Aggregate annual maturities of our long-term Notes (excluding finance lease obligations and net impact of interest rate swaps, debt issuance costs and unamortized debt discounts) are as follows for the years ending December 31:

2020	$	700,000
2021	434,715
2022	—
2023	750,000
2024	300,000
Thereafter	1,993,639

Schedule of Net Interest Expense

Net interest expense consists of the following:

For the years ended December 31,	2019			2018			2017
Interest expense	$	157,707		$	151,950		$	104,232
Capitalized interest	(5,585		)	(5,092		)	(4,166		)
Interest expense	152,122			146,858			100,066
Interest income	(7,997		)	(8,021		)	(1,784		)
Interest expense, net	$	144,125		$	138,837		$	98,282