DEBT (Tables)

6 Months Ended

Jun. 30, 2019



	Weighted-Average Interest Rate
	June 30, 2019	December 31, 2018	Maturities	June 30, 2019			December 31, 2018
				(In thousands)
Short-term debt and current portion of long-term debt:
Short-term debt	1.60%	2.69%		$	238,370		81,522
Current portion of long-term debt, including finance leases				814,849			855,609
Total short-term debt and current portion of long-term debt				1,053,219			937,131
Long-term debt:
U.S. commercial paper ⁽¹⁾	2.69%	2.78%	2023	754,864			454,397
Canadian commercial paper ⁽¹⁾	2.00%	2.28%	2023	106,583			123,491
Trade receivables program	—%	3.15%	2020	—			200,000
Global revolving credit facility	2.71%	2.25%	2023	6,089			12,581
Unsecured U.S. notes — Medium-term notes⁽¹⁾⁽²⁾	3.28%	3.22%	2019-2025	5,413,106			4,853,496
Unsecured U.S. obligations	3.40%	3.50%	2024	200,000			50,000
Unsecured foreign obligations	2.98%	1.61%	2021-2024	65,276			216,719
Asset-backed U.S. obligations ⁽³⁾	2.49%	2.37%	2019-2026	866,093			627,707
Finance lease obligations	7.96%	7.97%	2019-2073	44,353			47,452
Total long-term debt				7,456,364			6,585,843
Debt issuance costs				(22,455		)	(18,088	)
				7,433,909			6,567,755
Current portion of long-term debt, including finance leases				(814,849		)	(855,609	)
Long-term debt				6,619,060			5,712,146
Total debt				$	7,672,279		6,649,277

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(1)	Amounts are net of unamortized original issue discounts of $7 million at June 30, 2019 and December 31, 2018, respectively.

(2)

Amounts are inclusive of fair market value adjustments on notes subject to hedging of $1 million and $10 million at June 30, 2019 and December 31, 2018, respectively. The notional amount of the executed interest rate swaps designated as fair value hedges was $625 million and $725 million at June 30, 2019 and December 31, 2018, respectively. 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.