Long-Term Debt

3 Months Ended

Mar. 31, 2019

Long-Term Debt:

Long-term debt at March 31, 2019 and December 31, 2018 consisted of the following (in thousands):



	March 31,		December 31,
	2019		2018
1.875% Senior notes, net of unamortized discount and debt issuance costs of $2,576 at March 31, 2019 and $2,841 at December 31, 2018	$	440,098	$	444,155
4.15% Senior notes, net of unamortized discount and debt issuance costs of $2,762 at March 31, 2019 and $2,884 at December 31, 2018	422,238		422,116
4.50% Senior notes, net of unamortized discount and debt issuance costs of $514 at March 31, 2019 and $589 at December 31, 2018	174,701		174,626
5.45% Senior notes, net of unamortized discount and debt issuance costs of $3,966 at March 31, 2019 and $4,004 at December 31, 2018	346,034		345,996
Commercial paper notes	425,000		306,606
Variable-rate foreign bank loans	7,232		7,216
Finance lease obligations	4,285		4,495
Total long-term debt	1,819,588		1,705,210
Less amounts due within one year	425,684		307,294
Long-term debt, less current portion	$	1,393,904	$	1,397,916

Current portion of long-term debt at March 31, 2019 consisted primarily of commercial paper notes with a weighted-average interest rate of approximately 2.89% and a weighted-average maturity of 42 days.

The carrying value of our 1.875% Euro-denominated senior notes has been designated as an effective hedge of our net investment in certain foreign subsidiaries where the Euro serves as the functional currency, and gains or losses on the revaluation of these senior notes to our reporting currency are recorded in accumulated other comprehensive loss. During the three-month periods ended March 31, 2019 and 2018, gains (losses) of $3.3 million and ($14.4) million (net of income taxes), respectively, were recorded in accumulated other comprehensive loss in connection with the revaluation of these senior notes to our reporting currency.