DEBT (Tables)

3 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

	Weighted-Average Interest Rate
	March 31, 2019	December 31, 2018	Maturities	March 31, 2019			December 31, 2018
				(In thousands)
Short-term debt and current portion of long-term debt:
Short-term debt	1.46%	2.69%		$	210,185		81,522
Current portion of long-term debt, including finance leases				907,304			855,609
Total short-term debt and current portion of long-term debt				1,117,489			937,131
Long-term debt:
U.S. commercial paper (1)	2.76%	2.78%	2023	695,272			454,397
Canadian commercial paper (1)	1.99%	2.28%	2023	105,169			123,491
Trade receivables program	—%	3.15%	2019	—			200,000
Global revolving credit facility	2.28%	2.25%	2023	13,224			12,581
Unsecured U.S. notes — Medium-term notes (1)(2)	3.30%	3.22%	2019-2025	5,207,369			4,853,496
Unsecured U.S. obligations	3.49%	3.50%	2019-2024	250,000			50,000
Unsecured foreign obligations	2.67%	1.61%	2020-2021	33,710			216,719
Asset-backed U.S. obligations (3)	2.36%	2.37%	2019-2025	605,634			627,707
Finance lease obligations	8.32%	7.97%	2019-2073	43,702			47,452
Total long-term debt				6,954,080			6,585,843
Debt issuance costs				(21,097		)	(18,088	)
				6,932,983			6,567,755
Current portion of long-term debt, including finance leases				(907,304		)	(855,609	)
Long-term debt				6,025,679			5,712,146
Total debt				$	7,143,168		6,649,277

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(1) Amounts are net of unamortized original issue discounts of $7 million at March 31, 2019 and December 31, 2018, respectively.

(2) Amounts are inclusive of fair market value adjustments on notes subject to hedging of $6 million and $10 million at March 31, 2019 and December 31, 2018, respectively. The notional amount of the executed interest rate swaps designated as fair value hedges was $725 million at March 31, 2019 and December 31, 2018. Refer to Note 8, "Derivatives," for additional information.

(3) Asset-backed U.S. obligations are related to financing transactions backed by a portion of our revenue earning equipment.