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DEBT (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of Debt

			Weighted Average Interest Rate
			September 30, 2020												Maturities						September 30, 2020						December 31, 2019
																					(In thousands)
Debt:
U.S. commercial paper (1)			0.25%												2023						$	55,408					$	511,486
Canadian commercial paper (1)			0.99%												2023						96,040						136,199
Trade receivables program			—%												2021						—						—
Global revolving credit facility			1.25%												2023						800						8,104
Unsecured U.S. notes — Medium-term notes (1)(2)			3.36%												2021-2026						5,770,695						5,965,064
Unsecured U.S. obligations			2.53%												2021-2024						500,000						200,000
Unsecured foreign obligations			1.80%												2021-2024						271,639						270,719
Asset-backed U.S. obligations (3)			2.52%												2020-2026						720,925						807,374
Finance lease obligations and other															2020-2073						47,456						51,717
																					7,462,963						7,950,663
Debt issuance costs																					(26,391)						(25,875)
Total debt																					7,436,572						7,924,788
Short-term debt and current portion of long-term debt																					(1,133,396)						(1,154,564)
Long-term debt																					$	6,303,176					$	6,770,224

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(1)Amounts are net of unamortized original issue discounts of $5 million and $6 million as of September 30, 2020 and December 31, 2019, respectively.

(2)Includes the impact from the fair market values of hedging instruments on our notes, which were not material as of both September 30, 2020 and December 31, 2019. The notional amount of the executed interest rate swaps designated as fair value hedges was $150 million and $525 million as of September 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.

Debt Proceeds and Repayments

The following table includes our debt proceeds and repayments for the nine months ended September 30, 2020.

Debt Proceeds									Debt Repayments
(In thousands)
Medium-term notes			$	799,648					Medium-term notes			$	1,000,000
Trade receivables program			300,000						Trade receivables program			300,000
U.S. and foreign term loans and other			656,849						U.S. and foreign term loan, finance lease obligations, and other repayments			448,121
Total debt proceeds			$	1,756,497					Total debt repaid			$	1,748,121

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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.

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