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Debt | 3 Months Ended
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Mar. 31, 2018
Debt Disclosure [Abstract] |
Debt | Debt The Company’s debt instruments consist primarily of term notes, revolving lines of credit and a Securitization Facility as follows (in thousands):
|  | March 31, 2018 |  | December 31, 2017
Term notes payable—domestic(a), net of discounts |  | $ | 2,959,854 |  |  | $ | 2,993,667 |
Revolving line of credit A Facility—domestic(a) |  | 365,000 |  |  | 635,000 |
Revolving line of credit B Facility—foreign(a) |  | 280,258 |  |  | 28,334 |
Revolving line of credit B Facility—swing line(a) |  | 12,324 |  |  | 6,879 |
Other debt(c) |  | 43,009 |  |  | 43,736 |
Total notes payable and other obligations |  | 3,660,445 |  |  | 3,707,616 |
Securitization Facility(b) |  | 829,000 |  |  | 811,000 |
Total notes payable, credit agreements and Securitization Facility |  | $ | 4,489,445 |  |  | $ | 4,518,616 |
Current portion |  | $ | 1,621,913 |  |  | $ | 1,616,512 |
Long-term portion |  | 2,867,532 |  |  | 2,902,104 |
Total notes payable, credit agreements and Securitization Facility |  | $ | 4,489,445 |  |  | $ | 4,518,616 |
______________________
(a) | The Company has a Credit Agreement, which has been amended multiple times and provides for senior secured credit facilities consisting of a revolving A credit facility in the amount of $1.285 billion, a term loan A facility in the amount of $2.69 billion and a term loan B facility in the amount of $350 million as of March 31, 2018. The revolving credit facility consists of (a) a revolving A credit facility in the amount of $800 million, with sublimits for letters of credit and swing line loans, (b) a revolving B facility in the amount of $450 million for swing line loans and multi-currency borrowings and, (c) a revolving C facility in the amount of $35 million for multi-currency borrowings in Australian Dollars or New Zealand Dollars. The Credit Agreement also includes an accordion feature for borrowing an additional $750 million in term A, term B or revolver A debt. Proceeds from the credit facilities may be used for working capital purposes, acquisitions, and other general corporate purposes. The maturity dates are August 2, 2022 for term A loan, revolving loans, and letters of credit under the Credit Agreement and August 2, 2024 for the term B loan.
Interest on amounts outstanding under the Credit Agreement (other than the term B loan) 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 on the term B loan facility accrues based on the Eurocurrency Rate plus 2.00% for Eurocurrency Loans and at 1.00% 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. The Company has unamortized debt discounts of $5.6 million related to the term A facility, and $0.7 million related to the term B facility and deferred financings costs of $4.8 million at March 31, 2018. At March 31, 2018, the interest rate on the term A loan and the domestic revolving A facility was 3.38%, the interest rate on the foreign revolving B facility was 2.00%, the interest rate on the revolving B facility foreign swing line of credit was 1.97% and the interest rate on the term B loan was 3.88%. The unused credit facility was 0.30% for all revolving facilities at March 31, 2018.
(b) | The Company is party to a $950 million receivables purchase agreement (Securitization Facility) that was amended and restated on November 14, 2017. There is a program fee equal to one month LIBOR plus 0.90% or the Commercial Paper Rate plus 0.80%. The program fee was 1.91% plus 0.86% as of March 31, 2018 and 1.55% plus 0.86% as of December 31, 2017. The unused facility fee is payable at a rate of 0.40% per annum as of March 31, 2018 and December 31, 2017.
(c) | Other debt includes the long-term portion of deferred payments associated with business acquisitions.
The Company was in compliance with all financial and non-financial covenants at March 31, 2018.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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