XML 60 R46.htm IDEA: XBRL DOCUMENT v3.22.0.1

DEBT (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Debt

			Weighted Average Interest Rate
			December 31, 2021						December 31, 2020												Maturities						December 31, 2021						December 31, 2020
																											(In thousands)
Debt:
U.S. commercial paper			0.32%						0.29%												2026						$	531,157					$	214,375
Canadian commercial paper			0.34%						0.62%												2026						7,087						62,800
Trade receivables financing program			—%						—%												2022						—						—
Global revolving credit facility			—%						1.25%												2026						—						200
Unsecured U.S. obligations			3.41%						3.47%												2024						200,000						200,000
Unsecured U.S. notes — Medium-term notes (1)			3.24%						3.41%												2022-2026						5,149,893						5,174,180
Unsecured foreign obligations			2.00%						1.82%												2022-2024						140,265						254,259
Asset-backed U.S. obligations (2)			2.62%						2.53%												2022-2026						526,712						682,383
Finance lease obligations and other																					2022-2030						44,595						48,418
																											6,599,709						6,636,615
Debt issuance costs and original issue discounts																											(20,040)						(26,379)
Total debt																											6,579,669						6,610,236
Short-term debt and current portion of long-term debt																											(1,333,363)						(516,581)
Long-term debt																											$	5,246,306					$	6,093,655

_______________

(1)Includes the impact from the fair market values of hedging instruments on our notes, which were not material as of both December 31, 2021 and December 31, 2020. The notional amount of the executed interest rate swaps designated as fair value hedges was $450 million and $150 million as of December 31, 2021 and December 31, 2020, respectively.

(2)Asset-backed U.S. obligations are related to financing transactions backed by a portion of our revenue earning equipment.

The following table includes our debt proceeds and repayments in 2021:

Debt Proceeds									Debt Repayments
(In thousands)
Medium-term notes			$	299,616					Medium-term notes			$	320,000
U.S. and foreign term loans, finance lease obligations and other			—						U.S. and foreign term loans, finance lease obligations and other			287,636
Total debt proceeds			$	299,616					Total debt repaid			$	607,636

Schedule of Maturities of Debt

Contractual maturities of total debt, excluding finance lease obligations, are as follows:

Years ending December 31												(In thousands)
2022												$	1,321,221
2023												1,341,525
2024												1,509,973
2025												1,084,564
2026												1,297,831
Thereafter												—
Total												6,555,114
Finance lease obligations (Refer to Note 12)												44,595
Total long-term debt												$	6,599,709

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturity and sinking fund requirement for long-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123465755&loc=d3e1835-112601

+ Details

Name:	us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration