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Debt (Tables) | 12 Months Ended
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Dec. 31, 2015
Debt Disclosure [Abstract] |
Debt |
|  | Weighted-Average Interest Rate |  |  |  |  |  |
|  | December 31, |  |  |  | December 31,
|  | 2015 |  | 2014 |  | Maturities |  | 2015 |  | 2014
|  |  |  |  |  |  |  | (In thousands)
Short-term debt and current portion of long-term debt: |  |  |  |  |  |  |  |  |  |
Short-term debt |  | 2.26 | % |  | 1.30 | % |  |  |  | $ | 35,947 |  |  | 3,773 |
Current portion of long-term debt, including capital leases |  |  |  |  |  |  |  | 598,583 |  |  | 32,511 |
Total short-term debt and current portion of long-term debt |  |  |  |  |  |  |  | 634,530 |  |  | 36,284 |
Total long-term debt: |  |  |  |  |  |  |  |  |  |
U.S. commercial paper(1) |  | 0.55 | % |  | 0.35 | % |  | 2020 |  | 547,130 |  |  | 276,694 |
Global revolving credit facility |  | 2.31 | % |  | 1.60 | % |  | 2020 |  | 25,291 |  |  | 11,190 |
Unsecured U.S. notes – Medium-term notes(1) |  | 2.84 | % |  | 3.29 | % |  | 2016-2025 |  | 4,112,519 |  |  | 3,772,159 |
Unsecured U.S. obligations, principally bank term loans |  | 1.73 | % |  | 0.76 | % |  | 2018 |  | 50,000 |  |  | 110,500 |
Unsecured foreign obligations |  | 1.92 | % |  | 2.01 | % |  | 2016-2020 |  | 275,661 |  |  | 295,776 |
Asset backed U.S. obligations(2) |  | 1.81 | % |  | 1.81 | % |  | 2016-2022 |  | 434,001 |  |  | 218,137 |
Capital lease obligations |  | 3.31 | % |  | 3.65 | % |  | 2016-2022 |  | 32,054 |  |  | 37,560 |
Total before fair market value adjustment |  |  |  |  |  |  |  | 5,476,656 |  |  | 4,722,016 |
Fair market value adjustment on notes subject to hedging(3) |  |  |  |  |  |  |  | 5,253 |  |  | 4,830 |
|  |  |  |  |  |  |  | 5,481,909 |  |  | 4,726,846 |
Current portion of long-term debt, including capital leases |  |  |  |  |  |  |  | (598,583 | ) |  | (32,511 | )
Long-term debt |  |  |  |  |  |  |  | 4,883,326 |  |  | 4,694,335 |
Total debt |  |  |  |  |  |  |  | $ | 5,517,856 |  |  | 4,730,619 |
_________________
(1) | We had unamortized original issue discounts of $8 million at December 31, 2015 and 2014.
(2) | Asset-backed U.S. obligations are related to financing transactions involving revenue earning equipment. See Note 3, "Revision of Prior Period Financial Statements" for further information related to our evaluation of accounting for these transactions.
(3) | The notional amount of the executed interest rate swaps designated as fair value hedges was $825 million and $600 million at December 31, 2015 and 2014, respectively. Refer to Note 17, "Derivatives", for additional information.
Maturities of debt | Maturities of total debt are as follows:
|  | Capital Leases |  | Debt
|  | (In thousands)
2016 |  | $ | 8,469 |  |  | 928,722 |
2017 |  | 9,550 |  |  | 750,009 |
2018 |  | 7,135 |  |  | 783,177 |
2019 |  | 6,132 |  |  | 1,060,365 |
2020 |  | 639 |  |  | 1,645,441 |
Thereafter |  | 2,241 |  |  | 312,835 |
Total |  | 34,166 |  |  | 5,480,549 |
Imputed interest |  | (2,112 | ) |  |
Present value of minimum capitalized lease payments |  | 32,054 |  |  |
Current portion |  | (7,720 | ) |  |
Long-term capitalized lease obligation |  | $ | 24,334 |  |  |

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- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
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