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LONG-TERM DEBT AND LINES OF CREDIT (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

As of September 30, 2019 and December 31, 2018, long-term debt consisted of the following:

	September 30, 2019				December 31, 2018
	(in thousands)
Long-term Debt
3.800% senior notes due April 1, 2021	$	763,194			$	—
3.750% senior notes due June 1, 2023	568,598				—
4.000% senior notes due June 1, 2023	574,170				—
2.650% senior notes due February 15, 2025	991,090				—
4.800% senior notes due April 1, 2026	823,448				—
4.450% senior notes due June 1, 2028	488,081				—
3.200% senior notes due August 15, 2029	1,234,560				—
4.150% senior notes due August 15, 2049	739,410				—
Unsecured term loan facility	1,980,886				—
Unsecured revolving credit facility	783,000				—
Secured term loans (outstanding under our Prior Credit Facility)	—				4,426,243
Secured revolving credit facility (outstanding under our Prior Credit Facility)	—				704,000
Finance lease liabilities	34,266				—
Other borrowings	40,374				—
Total long-term debt	9,021,077				5,130,243
Less current portion	33,373				115,075
Long-term debt, excluding current portion	$	8,987,704			$	5,015,168

Schedule of Maturities of Long-Term Debt

At September 30, 2019, maturities of long-term debt (excluding finance lease liabilities) were as follows by year (in thousands):

Year ending December 31,
Remainder of 2019	$	11,536
2020	22,953
2021	754,906
2022	50,038
2023	1,300,000
2024	2,533,000
2025 and thereafter	4,200,000
Total	$	8,872,433

See "Note 5—Leases" for more information about our finance lease liabilities, including maturities.

Schedule of Derivative Instruments

The table below presents the fair values of our derivative financial instruments, designated as cash flow hedges, included in the consolidated balance sheets:

								Fair Values
Derivative Financial Instruments		Balance Sheet Location		Weighted-Average Fixed Rate of Interest at September 30, 2019		Range of Maturity Dates at September 30, 2019		September 30, 2019				December 31, 2018
								(in thousands)
Interest rate swaps (Notional of $500 million at September 30, 2019 and $750 million at December 31, 2018)		Prepaid expenses and other current assets		1.46%		December 31, 2019 - July 31, 2020		$	950			$	3,200
Interest rate swaps (Notional of $550 million at December 31, 2018)		Other noncurrent assets		NA		NA		$	—			$	8,256
Interest rate swaps (Notional of $1.5 billion at September 30, 2019 and $950 million at December 31, 2018)		Other noncurrent liabilities		2.57%		March 31, 2021 - December 31, 2022		$	55,238			$	14,601

Schedule of Derivative Instrument Effect on Other Comprehensive Income (Loss)

The table below presents the effects of our interest rate swaps on the consolidated statements of income and comprehensive income for the three and nine months ended September 30, 2019 and 2018:

	Three Months Ended								Nine Months Ended
	September 30, 2019				September 30, 2018				September 30, 2019				September 30, 2018
	(in thousands)
Net unrealized (losses) gains recognized in other comprehensive loss	$	(40,265	)		$	1,845			$	(96,997	)		$	12,353
Net unrealized losses (gains) reclassified out of other comprehensive loss to interest expense	$	1,193			$	(1,663	)		$	(1,530	)		$	(2,830	)

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