Debt (Tables)

3 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Schedule of debt

	Weighted-Average Interest Rate
	March 31, 2016	December 31, 2015	Maturities	March 31, 2016			December 31, 2015
				(In thousands)
Short-term debt and current portion of long-term debt:
Short-term debt	2.31%	2.26%		$	19,994		35,947
Current portion of long-term debt				592,229			598,583
Total short-term debt and current portion of long-term debt				612,223			634,530
Long-term debt:
U.S. commercial paper (1)	0.70%	0.55%	2020	637,811			547,130
Global revolving credit facility	2.28%	2.31%	2020	53,301			25,291
Unsecured U.S. notes — Medium-term notes (1)	2.86%	2.84%	2016-2025	4,112,706			4,112,519
Unsecured U.S. obligations	1.86%	1.73%	2018	50,000			50,000
Unsecured foreign obligations	1.93%	1.92%	2016-2020	271,545			275,661
Asset-backed U.S. obligations (3)	1.80%	1.81%	2016-2022	422,466			434,001
Capital lease obligations	3.23%	3.31%	2016-2022	29,586			32,054
Total before fair market value adjustment				5,577,415			5,476,656
Fair market value adjustment on notes subject to hedging (4)				18,106			5,253
Debt issuance costs(2)				(16,075		)	(15,229	)
				5,579,446			5,466,680
Current portion of long-term debt				(592,229		)	(598,583	)
Long-term debt				4,987,217			4,868,097
Total debt				$	5,599,440		5,502,627

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(1) We had unamortized original issue discounts of $7.5 million and $7.7 million at March 31, 2016 and December 31, 2015, respectively.

(2) See Note 2, "Recent Accounting Pronouncements," for further discussion of the presentation of debt issuance costs.

(3) Asset-backed U.S. obligations are related to financing transactions involving revenue earning equipment.

(4) The notional amount of executed interest rate swaps designated as fair value hedges was $825 million at March 31, 2016 andDecember 31, 2015.