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DEBT (Tables) | 6 Months Ended
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Jun. 30, 2020
Debt Disclosure [Abstract] |
Schedule of Debt |
| Weighted Average Interest Rate |  |  |  |  |  |  |  |
| June 30, 2020 |  |  |  | Maturities |  | June 30, 2020 |  | December 31, 2019
|  |  |  |  |  |  | (In thousands) |  |
Debt: |  |  |  |  |  |  |  |  |
U.S. commercial paper (1) | 0.69% |  |  |  | 2023 |  | $ | 76,410 |  |  | $ | 511,486 |
Canadian commercial paper (1) | 1.24% |  |  |  | 2023 |  | 118,146 |  |  | 136,199 |
Trade receivables program | 1.11% |  |  |  | 2021 |  | 200,000 |  |  | — |
Global revolving credit facility | 1.20% |  |  |  | 2023 |  | 1,800 |  |  | 8,104 |
Unsecured U.S. notes — Medium-term notes (1)(2) | 3.33% |  |  |  | 2020-2026 |  | 6,071,198 |  |  | 5,965,064 |
Unsecured U.S. obligations | 2.33% |  |  |  | 2021-2024 |  | 600,000 |  |  | 200,000 |
Unsecured foreign obligations | 2.04% |  |  |  | 2020-2024 |  | 309,627 |  |  | 270,719 |
Asset-backed U.S. obligations (3) | 2.51% |  |  |  | 2020-2026 |  | 751,567 |  |  | 807,374 |
Finance lease obligations and other |  |  |  |  | 2020-2073 |  | 47,869 |  |  | 51,717 |
|  |  |  |  |  |  | 8,176,617 |  |  | 7,950,663 |
Debt issuance costs |  |  |  |  |  |  | (28,917) |  |  | (25,875) |
Total debt |  |  |  |  |  |  | 8,147,700 |  |  | 7,924,788 |
Short-term debt and current portion of long-term debt |  |  |  |  |  |  | (1,460,604) |  |  | (1,154,564) |
Long-term debt |  |  |  |  |  |  | $ | 6,687,096 |  |  | $ | 6,770,224 |
———————————— (1)Amounts are net of unamortized original issue discounts of $5 million and $6 million as of June 30, 2020 and December 31, 2019, respectively. (2)Amounts are inclusive of the fair market values of our hedging instruments on our notes of assets of $6 million as of June 30, 2020. The fair market values of our hedging instruments were not material as of December 31, 2019. The notional amount of the executed interest rate swaps designated as fair value hedges was $375 million and $525 million as of June 30, 2020 and December 31, 2019, respectively. (3)Asset-backed U.S. obligations are related to financing transactions backed by a portion of our revenue earning equipment. The following table includes our proceeds from borrowings and repayment of debt for the six months ended June 30, 2020.
Debt Proceeds |  |  | Debt Repayments |
| (In thousands) |  |  | (In thousands)
Floating-rate unsecured 364-day U.S. term loan | $ | 400,000 |  |  | 2.65% Medium-term notes (due March 2020) | $ | 400,000 |
4.625% Medium-term notes (due June 2025) | 399,924 |  |  | 2.50% Medium-term notes (due May 2020) | 300,000 |
3.35% Medium-term notes (due September 2025) | 399,724 |  |  | Unsecured foreign term loans (1.71% due March 2020 and 1.89% due March 2020) | 177,926 |
Trade receivables program | 300,000 |  |  | Trade receivables program | 100,000 |
Unsecured foreign term loans (1.71% due February 2021 and 1.89% due February 2023) | 177,926 |  |  | Asset-backed U.S. obligations | 60,318 |
Unsecured foreign term loans (2.94% due February 2021 and 2.99% due February 2022) | 60,132 |  |  | Canadian term loan, finance lease obligations, and other repayments | 25,852 |
Unsecured foreign term loan (3.44% due February 2023) | 18,791 |  |  |  |
Total debt proceeds | $ | 1,756,497 |  |  | Total debt repaid | $ | 1,064,096 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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