FINANCING ARRANGEMENTS (Tables)

9 Months Ended

Sep. 30, 2018

Components of Short-term and Long-term Debt

The components of our short-term and long-term debt and the associated interest rates were as follows (dollars in thousands):



	Average interest rate as of					Carrying value as of
	September 30, 2018		December 31, 2017		Maturity	September 30, 2018		December 31, 2017
Revolving credit facility ⁽¹⁾	—	%	2.70	%	December 2019	$	—	$	715,000
Senior Notes, Series A	3.97	%	3.97	%	August 2023	175,000		175,000
Senior Notes, Series B	4.26	%	4.26	%	August 2028	150,000		150,000
Senior Notes, Series C	4.60	%	4.60	%	August 2033	175,000		175,000
Receivables securitization facility ⁽²⁾	2.96	%	2.00	%	April 2019	249,898		250,000
Senior Notes ⁽²⁾	4.20	%	N/A		April 2028	591,405		—
Total debt						1,341,303		1,465,000
Less: Current maturities and short-term borrowing						—		(715,000		)
Long-term debt						$	1,341,303	$	750,000

⁽¹⁾ There was no outstanding balance on the credit facility as of September 30, 2018. The average borrowing rate on the credit facility during the third quarter was 3.58 percent. The revolving credit facility was amended on October 24, 2018. The Amendment increases the amount of our revolving credit facility from $900 million to $1 billion and also extends the maturity date of the facility from December 31, 2019 to October 24, 2023.

⁽²⁾Net of unamortized discounts and issuance costs.