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DEBT (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Schedule of Debt

			Weighted Average Interest Rate
			March 31, 2022						Maturities						March 31, 2022						December 31, 2021
															(In thousands)
Debt:
U.S. commercial paper			0.69%						2026						$	601,711					$	531,157
Canadian commercial paper			—%						2026						—						7,087
Trade receivables financing program			0.44%						2022						50,000						—
Global revolving credit facility			—%						2026						—						—
Unsecured U.S. obligations			3.41%						2024						200,000						200,000
Unsecured U.S. notes — Medium-term notes (1)			3.21%						2022-2027						5,279,035						5,149,893
Unsecured foreign obligations			2.31%						2022-2024						117,487						140,265
Asset-backed U.S. obligations (2)			2.63%						2022-2026						510,275						526,712
Finance lease obligations and other									2022-2030						44,102						44,595
															6,802,610						6,599,709
Debt issuance costs and original issue discounts															(21,834)						(20,040)
Total debt															6,780,776						6,579,669
Short-term debt and current portion of long-term debt															(1,559,928)						(1,333,363)
Long-term debt															$	5,220,848					$	5,246,306

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(1)Includes the impact from the fair market values of hedging instruments on our notes, which was $21 million as of March 31, 2022 and not material as of December 31, 2021. The notional amount of the executed interest rate swaps designated as fair value hedges was $650 million and $450 million as of March 31, 2022 and December 31, 2021, respectively.

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

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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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