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Debt (Tables)
3 Months Ended
Mar. 31, 2015
Debt Disclosure [Abstract]  
Debt
 
Weighted-Average
Interest Rate
 
 
 
 
 
 
 
March 31,
2015
 
December 31,
2014
 
Maturities
 
March 31,
2015
 
December 31,
2014
 
 
 
 
 
 
 
(In thousands)
Short-term debt and current portion of long-term debt:
 
 
 
 
 
 
 
 
 
Short-term debt
1.77%
 
1.30%
 
2015
 
$
2,550

 
3,773

Current portion of long-term debt, including capital leases
 
 
 
 
 
 
8,867

 
8,434

Total short-term debt and current portion of long-term debt
 
 
 
 
 
 
11,417

 
12,207

Long-term debt:
 
 
 
 
 
 
 
 
 
U.S. commercial paper (1)
0.46%
 
0.35%
 
2020
 
481,410

 
276,694

Global revolving credit facility
2.67%
 
1.60%
 
2020
 
22,710

 
11,190

Unsecured U.S. notes — Medium-term notes (1)
3.25%
 
3.29%
 
2015-2025
 
3,822,369

 
3,772,159

Unsecured U.S. obligations
1.49%
 
0.76%
 
2018
 
50,000

 
110,500

Unsecured foreign obligations
1.92%
 
2.01%
 
2015-2020
 
279,992

 
295,776

Capital lease obligations
3.57%
 
3.65%
 
2015-2019
 
35,004

 
37,560

Total before fair market value adjustment
 
 
 
 
 
 
4,691,485

 
4,503,879

Fair market value adjustment on notes subject to hedging (2)
 
 
 
 
 
9,885

 
4,830

 
 
 
 
 
 
 
4,701,370

 
4,508,709

Current portion of long-term debt, including capital leases
 
 
 
 
 
 
(8,867
)
 
(8,434
)
Long-term debt
 
 
 
 
 
 
4,692,503

 
4,500,275

Total debt
 
 
 
 
 
 
$
4,703,920

 
4,512,482

 ————————————
(1)
We had unamortized original issue discounts of $7.7 million and $7.9 million at March 31, 2015 and December 31, 2014, respectively.
(2)
The notional amount of executed interest rate swaps designated as fair value hedges was $600 million at March 31, 2015 and December 31, 2014.