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Debt (Tables) | 12 Months Ended
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Dec. 31, 2015
Debt Disclosure [Abstract] |
Summary of Debt Instruments | The Company’s debt instruments at December 31 consist primarily of term notes, revolving lines of credit and a Securitization Facility as follows (in thousands):
|  | 2015 |  |  | 2014 |
Term notes payable—domestic(a), net of discounts |  | $ | 2,159,438 |  |  | $ | 2,261,005 |
Revolving line of credit A Facility—domestic(a) |  |  | 160,000 |  |  |  | 595,000 |
Revolving line of credit A Facility—foreign(a) |  |  | — |  |  |  | 53,204 |
Other debt(c) |  |  | 3,624 |  |  |  | 9,508 |
Total notes payable and other obligations |  |  | 2,323,062 |  |  |  | 2,918,717 |
Securitization Facility(b) |  |  | 614,000 |  |  |  | 675,000 |
Total notes payable, credit agreements and Securitization Facility |  | $ | 2,937,062 |  |  | $ | 3,593,717 |
Current portion |  | $ | 875,647 |  |  | $ | 1,424,764 |
Long-term portion |  |  | 2,061,415 |  |  |  | 2,168,953 |
Total notes payable, credit agreements and Securitization Facility |  | $ | 2,937,062 |  |  | $ | 3,593,717 |
(a) | On October 24, 2014, the Company entered into a $3.355 billion Credit Agreement, which provides for senior secured credit facilities consisting of (a) a revolving A credit facility in the amount of $1.0 billion, with sublimits for letters of credit, swing line loans and multicurrency borrowings, (b) a revolving B facility in the amount of $35 million for loans in Australian Dollars or New Zealand Dollars, (c) a term loan A facility in the amount of $2.02 billion and (d) a term loan B facility in the amount $300 million. The Credit Agreement also contains an accordion feature for borrowing an additional $500 million in term A or revolver A and term B. Proceeds from the Credit Facility may be used for working capital purposes, acquisitions, and other general corporate purposes. Interest on amounts outstanding under the Credit Agreement (other than the term loan B facility) accrues based on the British Bankers Association LIBOR Rate (the Eurocurrency Rate), plus a margin based on a leverage ratio, or our option, the Base Rate (defined as the rate equal to the highest of (a) the Federal Funds Rate plus 0.50%, (b) the prime rate announced by Bank of America, N.A., or (c) the Eurocurrency Rate plus 1.00%) plus a margin based on a leverage ratio. Interest is payable quarterly in arrears. Interest on the term loan B facility accrues based on the Eurocurrency Rate or the Base Rate, as described above, except that the applicable margin is fixed at 3% for Eurocurrency Loans and at 2% for Base Rate Loans. In addition, the Company pays a quarterly commitment fee at a rate per annum ranging from 0.20% to 0.40% of the daily unused portion of the credit facility. At December 31, 2015, the interest rate on the term loan A was 1.92%, the interest rate on the domestic revolving A facility was 1.83% and the interest rate on the term loan B facility was 3.75%. The unused credit facility was 0.30% for all facilities at December 31, 2015. The stated maturity dates for the term loan A, revolving loans, and letters of credit under the Credit Agreement is November 14, 2019 and November 14, 2021 for the term loan B. The term loans are payable in quarterly installments and are due on the last business day of each March, June, September, and December with the final principal payment due on the respective maturity date. Borrowings on the revolving line of credit are repayable at the option of one, two, three or nine months after borrowing, depending on the term of the borrowing on the facility. Borrowings on the foreign swing line of credit are due no later than ten business days after such loan is made. There were no borrowings outstanding at December 31, 2015 on the foreign revolving A facility, the foreign revolving B facility or the U.S. or foreign swing line of credit. On November 14, 2014 in order to finance a portion of the Comdata acquisition and to refinance the Company’s Existing Credit Agreement, the Company made initial borrowings under the Credit Agreement. The Company has unamortized debt discounts of $5.9 million related to the term A facility and $1.2 million related to the term B facility at December 31, 2015. The effective interest rate incurred on term loans was 2.04% and 2.78% during 2015 and 2014, respectively, related to the discount on debt.
Principal payments of $103.5 million were made on the term loans during 2015.
(b) | The Company is party to a $950 million receivables purchase agreement (Securitization Facility) that was amended and restated for the fifth time on November 14, 2014 in connection with the Comdata acquisition to increase the commitments from $500 million to $1.2 billion, to extend the term of the facility to November 14, 2017, to add financial covenants and to add additional purchasers to the facility. On November 5, 2015, the first amendment to the fifth amended and restated receivables purchase agreement was entered into which allowed the Company to enter into a new contract with BP and modified the eligible receivables definition and on December 1, 2015, the second amendment to the fifth amended and restated receivables purchase agreement was entered into which reduced the commitments from $1.2 billion to $950 million. There is a program fee equal to one month LIBOR and the Commercial Paper Rate of 0.43% plus 0.90% and 0.18% plus 0.90% as of December 31, 2015 and 2014, respectively. The unused facility fee is payable at a rate of 0.40% as of December 31, 2015 and 2014. The Securitization Facility provides for certain termination events, which includes nonpayment, upon the occurrence of which the administrator may declare the facility termination date to have occurred, may exercise certain enforcement rights with respect to the receivables, and may appoint a successor servicer, among other things. (c) Other debt includes other deferred liabilities associated with certain of our businesses and is recorded within notes payable and other obligations, less current portion in the consolidated Balance Sheets.
(c) | Other debt includes the long term portion of contingent consideration and deferred payments associated with certain of our businesses.
Summary of Contractual Maturities of Notes Payable and Other Obligations | The contractual maturities of the Company’s notes payable and other obligations at December 31, 2015 are as follows (in thousands):
2016 |  | $ | 261,647 |
2017 |  |  | 104,958 |
2018 |  |  | 203,127 |
2019 |  |  | 1,516,210 |
2020 |  |  | 1,676 |
Thereafter |  |  | 235,444 |

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