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Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Debt



		Weighted-Average Interest Rate
		December 31,								December 31,
		2018			2017			Maturities		2018				2017
										(In thousands)
Short-term debt and current portion of long-term debt:
Short-term debt		2.69	%		1.79	%				$	81,522			35,509
Current portion of long-term debt, including capital leases										848,430				790,560
Total short-term debt and current portion of long-term debt										929,952				826,069
Total long-term debt:
U.S. commercial paper ⁽¹⁾		2.78	%		1.56	%		2023		454,397				570,218
Canadian commercial paper⁽¹⁾		2.28	%		—	%		2023		123,491				—
Trade receivables program		3.15	%		—	%		2019		200,000				—
Global revolving credit facility		2.25	%		2.80	%		2023		12,581				17,328
Unsecured U.S. notes – Medium-term notes ^{(1) (2)}		3.22	%		2.73	%		2019-2025		4,853,496				4,006,899
Unsecured U.S. obligations, principally bank term loans		3.50	%		2.79	%		2019		50,000				50,000
Unsecured foreign obligations		1.61	%		1.50	%		2020-2021		216,719				230,380
Asset backed U.S. obligations ⁽³⁾		2.37	%		1.85	%		2019-2025		627,707				491,899
Capital lease obligations		4.20	%		3.53	%		2019-2025		21,773				20,871
Total long-term debt										6,560,164				5,387,595
Debt issuance costs										(18,088		)		(13,453	)
										6,542,076				5,374,142
Current portion of long-term debt, including capital leases										(848,430		)		(790,560	)
Long-term debt										5,693,646				4,583,582
Total debt										$	6,623,598			5,409,651

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(1)	Amounts are net of unamortized original issue discounts of $7 million and $6 million at December 31, 2018 and 2017, respectively.


(2)	Amounts are inclusive of fair market value adjustments on notes subject to hedging of $10 million and $7 million at December 31, 2018 and 2017, respectively. The notional amount of the executed interest rate swaps designated as fair value hedges was $725 million and $825 million at December 31, 2018 and 2017, respectively. Refer to Note 17, "Derivatives," for additional information.

Maturities of debt

Maturities of total debt are as follows:



		Capital Leases				Debt
		(In thousands)
2019		$	7,364			922,588
2020		4,729				1,290,370
2021		4,040				1,058,104
2022		2,732				717,413
2023		1,213				2,334,059
Thereafter		5,162				297,379
Total		25,240				6,619,913
Imputed interest		(3,467		)
Present value of minimum capitalized lease payments		21,773
Current portion		(7,364		)
Long-term capitalized lease obligation		$	14,409