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Debt | 6 Months Ended
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Jun. 30, 2019
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):
|  | June 30, 2019 |  | December 31, 2018 |  | July 1, 2018
Unsecured commercial paper |  | $ | 405,695 |  |  | $ | 1,135,810 |  |  | $ | 1,327,307 |
Debt with a contractual term greater than one year is generally classified as long-term debt and consisted of the following (in thousands):
|  |  |  | June 30, 2019 |  | December 31, 2018 |  | July 1, 2018
Secured debt (Note 13) |  |  |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility |  |  |  | $ | 148,740 |  |  | $ | 155,951 |  |  | $ | 166,638 |
Asset-backed U.S. commercial paper conduit facilities |  |  |  | 464,136 |  |  | 582,717 |  |  | 300,000 |
Asset-backed securitization debt |  |  |  | 1,006,410 |  |  | 95,216 |  |  | 169,632 |
Less: unamortized discount and debt issuance costs |  |  |  | (3,541 | ) |  | (49 | ) |  | (202 | )
Total secured debt |  |  |  | 1,615,745 |  |  | 833,835 |  |  | 636,068 |
Unsecured debt (at par value) |  |  |  |  |  |  |  |
Medium-term notes |  |  |  |  |  |  |  |
Due in 2019, issued January 2016 |  | 2.25 | % |  | — |  |  | 600,000 |  |  | 600,000 |
Due in 2019, issued March 2017 |  | LIBOR + 0.35% |  |  | — |  |  | 150,000 |  |  | 150,000 |
Due in 2019, issued September 2014 |  | 2.40 | % |  | 600,000 |  |  | 600,000 |  |  | 600,000 |
Due in 2020, issued February 2015 |  | 2.15 | % |  | 600,000 |  |  | 600,000 |  |  | 600,000 |
Due in 2020, issued May 2018 |  | LIBOR + 0.50% |  |  | 450,000 |  |  | 450,000 |  |  | 450,000 |
Due in 2020, issued March 2017 |  | 2.40 | % |  | 350,000 |  |  | 350,000 |  |  | 350,000 |
Due in 2021, issued January 2016 |  | 2.85 | % |  | 600,000 |  |  | 600,000 |  |  | 600,000 |
Due in 2021, issued November 2018 |  | LIBOR + 0.94% |  |  | 450,000 |  |  | 450,000 |  |  | — |
Due in 2021, issued May 2018 |  | 3.55 | % |  | 350,000 |  |  | 350,000 |  |  | 350,000 |
Due in 2022, issued February 2019 |  | 4.05 | % |  | 550,000 |  |  | — |  |  | — |
Due in 2022, issued June 2017 |  | 2.55 | % |  | 400,000 |  |  | 400,000 |  |  | 400,000 |
Due in 2023, issued February 2018 |  | 3.35 | % |  | 350,000 |  |  | 350,000 |  |  | 350,000 |
Less: unamortized discount and debt issuance costs |  |  |  | (12,340 | ) |  | (12,993 | ) |  | (14,551 | )
Total medium-term notes |  |  |  | 4,687,660 |  |  | 4,887,007 |  |  | 4,435,449 |
Senior notes |  |  |  |  |  |  |  |
Due in 2025, issued July 2015 |  | 3.50 | % |  | 450,000 |  |  | 450,000 |  |  | 450,000 |
Due in 2045, issued July 2015 |  | 4.625 | % |  | 300,000 |  |  | 300,000 |  |  | 300,000 |
Less: unamortized discount and debt issuance costs |  |  |  | (7,041 | ) |  | (7,376 | ) |  | (7,708 | )
Total senior notes |  |  |  | 742,959 |  |  | 742,624 |  |  | 742,292 |
Total unsecured debt |  |  |  | 5,430,619 |  |  | 5,629,631 |  |  | 5,177,741 |
Gross long-term debt |  |  |  | 7,046,364 |  |  | 6,463,466 |  |  | 5,813,809 |
Less: current portion of long-term debt, net of unamortized discount and debt issuance costs |  |  |  | (2,396,188 | ) |  | (1,575,799 | ) |  | (945,463 | )
Total long-term debt |  |  |  | $ | 4,650,176 |  |  | $ | 4,887,667 |  |  | $ | 4,868,346 |
In May 2019, the Company entered into a $195.0 million 364-day credit facility which bears interest at variable rates and matures on May 11, 2020.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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