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Debt | 6 Months Ended
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Jun. 28, 2020
Debt Disclosure [Abstract] |
Debt | Debt Debt with a contractual term less than 12 months is generally classified as short-term and consisted of the following (in thousands):
| June 28, 2020 |  | December 31, 2019 |  | June 30, 2019
Unsecured commercial paper | $ | 1,397,388 |  |  | $ | 571,995 |  |  | $ | 405,695 |
364-day credit facility borrowings | 150,000 |  |  | — |  |  | — |
| $ | 1,547,388 |  |  | $ | 571,995 |  |  | $ | 405,695 |
Debt with a contractual term greater than 12 months is generally classified as long-term and consisted of the following (in thousands):
|  | June 28, 2020 |  | December 31, 2019 |  | June 30, 2019
Secured debt: |  |  |  |  |  |
Asset-backed Canadian commercial paper conduit facility |  | $ | 144,661 |  |  | $ | 114,693 |  |  | $ | 148,740 |
Asset-backed U.S. commercial paper conduit facilities |  | 540,840 |  |  | 490,427 |  |  | 464,136 |
Asset-backed securitization debt |  | 2,472,529 |  |  | 766,965 |  |  | 1,006,410 |
Unamortized discounts and debt issuance costs |  | (11,422) |  |  | (2,573) |  |  | (3,541) |
|  | 3,146,608 |  |  | 1,369,512 |  |  | 1,615,745 |
Unsecured notes (at par value): |  |  |  |  |  |
Medium-term notes: |  |  |  |  |  |
Due in 2019, issued September 2014 | 2.40 | % | — |  |  | — |  |  | 600,000 |
Due in 2020, issued February 2015 | 2.15 | % | — |  |  | 600,000 |  |  | 600,000 |
Due in 2020, issued May 2018 | LIBOR + 0.50% | — |  |  | 450,000 |  |  | 450,000 |
Due in 2020, issued March 2017 | 2.40 | % | — |  |  | 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 |  |  | 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 |  |  | 550,000 |  |  | 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 |
Due in 2023, issued May 2020(a) | 4.94 | % | 729,885 |  |  | — |  |  | — |
Due in 2024, issued November 2019(b) | 3.14 | % | 673,740 |  |  | 672,936 |  |  | — |
Due in 2025, issued June 2020 | 3.35 | % | 700,000 |  |  | — |  |  | — |
Unamortized discounts and debt issuance costs |  | (19,332) |  |  | (12,809) |  |  | (12,340) |
|  | 4,784,293 |  |  | 4,760,127 |  |  | 4,687,660 |
|  | June 28, 2020 |  | December 31, 2019 |  | June 30, 2019
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 |
Unamortized discounts and debt issuance costs |  | (6,365) |  |  | (6,704) |  |  | (7,041) |
|  | 743,635 |  |  | 743,296 |  |  | 742,959 |
|  | 5,527,928 |  |  | 5,503,423 |  |  | 5,430,619 |
Long-term debt |  | 8,674,536 |  |  | 6,872,935 |  |  | 7,046,364 |
Current portion of long-term debt, net |  | (2,186,037) |  |  | (1,748,109) |  |  | (2,396,188) |
Long-term debt, net |  | $ | 6,488,499 |  |  | $ | 5,124,826 |  |  | $ | 4,650,176 |
(a)Euro denominated, €650.0 million par value remeasured to U.S. dollar at June 28, 2020 (b)Euro denominated, €600.0 million par value remeasured to U.S. dollar at June 28, 2020 and December 31, 2019, respectively

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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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