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Debt | 9 Months Ended
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Sep. 30, 2018
Debt Disclosure [Abstract] |
Debt | Debt Debt with a contractual term of one year or less is generally classified as short-term debt and consisted of the following (in thousands):
|  | September 30, 2018 |  | December 31, 2017 |  | September 24, 2017
Unsecured commercial paper |  | $ | 1,373,859 |  |  | $ | 1,273,482 |  |  | $ | 834,875 |
Total short-term debt |  | $ | 1,373,859 |  |  | $ | 1,273,482 |  |  | $ | 834,875 |
Debt with a contractual term greater than one year is generally classified as long-term debt and consisted of the following (in thousands):
|  | September 30, 2018 |  | December 31, 2017 |  | September 24, 2017
Secured debt (Note 11) |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility |  | $ | 149,418 |  |  | $ | 174,779 |  |  | $ | 122,130 |
Asset-backed U.S. commercial paper conduit facilities |  | 265,044 |  |  | 279,457 |  |  | 280,308 |
Asset-backed securitization debt |  | 128,577 |  |  | 353,085 |  |  | 430,457 |
Less: unamortized discount and debt issuance costs |  | (103 | ) |  | (461 | ) |  | (624 | )
Total secured debt |  | 542,936 |  |  | 806,860 |  |  | 832,271 |
Unsecured notes (at par value) |  |  |  |  |  |
1.55% Medium-term notes due in 2017, issued November 2014 |  | — |  |  | — |  |  | 400,000 |
6.80% Medium-term notes due in 2018, issued May 2008 |  | — |  |  | 877,488 |  |  | 877,488 |
2.25% Medium-term notes due in 2019, issued January 2016 |  | 600,000 |  |  | 600,000 |  |  | 600,000 |
Floating-rate Medium-term notes due in 2019, issued March 2017(a) |  | 150,000 |  |  | 150,000 |  |  | 150,000 |
2.40% Medium-term notes due in 2019, issued September 2014 |  | 600,000 |  |  | 600,000 |  |  | 600,000 |
2.15% Medium-term notes due in 2020, issued February 2015 |  | 600,000 |  |  | 600,000 |  |  | 600,000 |
Floating-rate Medium-term notes due in 2020, issued May 2018(b) |  | 450,000 |  |  | — |  |  | — |
2.40% Medium-term notes due in 2020, issued March 2017 |  | 350,000 |  |  | 350,000 |  |  | 350,000 |
2.85% Medium-term notes due in 2021, issued January 2016 |  | 600,000 |  |  | 600,000 |  |  | 600,000 |
3.55% Medium-term notes due in 2021, issued May 2018 |  | 350,000 |  |  | — |  |  | — |
2.55% Medium-term notes due in 2022, issued June 2017 |  | 400,000 |  |  | 400,000 |  |  | 400,000 |
3.35% Medium-term notes due in 2023, issued February 2018 |  | 350,000 |  |  | — |  |  | — |
3.50% Senior unsecured notes due in 2025, issued July 2015 |  | 450,000 |  |  | 450,000 |  |  | 450,000 |
4.625% Senior unsecured notes due in 2045, issued July 2015 |  | 300,000 |  |  | 300,000 |  |  | 300,000 |
Less: unamortized discount and debt issuance costs |  | (20,263 | ) |  | (19,821 | ) |  | (21,567 | )
Gross long-term debt |  | 5,722,673 |  |  | 5,714,527 |  |  | 6,138,192 |
Less: current portion of long-term debt, net of unamortized discount and debt issuance costs |  | (1,526,156 | ) |  | (1,127,269 | ) |  | (1,530,401 | )
Total long-term debt |  | $ | 4,196,517 |  |  | $ | 4,587,258 |  |  | $ | 4,607,791 |
(a) Floating interest rate based on LIBOR plus 35 bps.
(b) | Floating interest rate based on LIBOR plus 50 bps. The Company utilized an interest rate swap designated as a cash flow hedge to convert this from a floating rate basis to a fixed rate basis. Refer to Note 9 of the Notes to the Consolidated Financial Statements for further details.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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