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DEBT (Tables)
9 Months Ended
Sep. 30, 2019
Debt Disclosure [Abstract]  
Schedule of Debt
 Weighted-Average
Interest Rate
   
 September 30,
2019
December 31,
2018
MaturitiesSeptember 30,
2019
December 31,
2018
    (In thousands)
Short-term debt and current portion of long-term debt:
Short-term debt1.57%  2.69%  $217,738  81,522  
Current portion of long-term debt, including finance leases722,953  855,609  
Total short-term debt and current portion of long-term debt940,691  937,131  
Long-term debt:
U.S. commercial paper (1)
2.30%  2.78%  2023698,594  454,397  
Canadian commercial paper (1)
2.00%  2.28%  2023111,420  123,491  
Trade receivables program—%  3.15%  2020—  200,000  
Global revolving credit facility3.07%  2.25%  20233,000  12,581  
Unsecured U.S. notes — Medium-term notes (1)(2)
3.21%  3.22%  2020-20255,564,895  4,853,496  
Unsecured U.S. obligations3.05%  3.50%  2024200,000  50,000  
Unsecured foreign obligations2.80%  1.61%  2020-202483,984  216,719  
Asset-backed U.S. obligations (3)
2.49%  2.37%  2019-2026842,899  627,707  
Finance lease obligations7.19%  7.97%  2019-207348,560  47,452  
Total long-term debt7,553,352  6,585,843  
Debt issuance costs(24,513) (18,088) 
7,528,839  6,567,755  
Current portion of long-term debt, including finance leases(722,953) (855,609) 
Long-term debt6,805,886  5,712,146  
Total debt$7,746,577  6,649,277  
 ————————————
(1)Amounts are net of unamortized original issue discounts of $7 million at September 30, 2019 and December 31, 2018, respectively.
(2)Amounts are inclusive of fair market value adjustments on notes subject to hedging of $1 million and $10 million at September 30, 2019 and December 31, 2018, respectively. The notional amount of the executed interest rate swaps designated as fair value hedges was $525 million and $725 million at September 30, 2019 and December 31, 2018, respectively. Refer to Note 8, "Derivatives," for additional information.
(3)Asset-backed U.S. obligations are related to financing transactions backed by a portion of our revenue earning equipment.