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Financing Agreement (Tables) | 12 Months Ended
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Dec. 31, 2018
Debt Disclosure [Abstract] |
Schedule of Long-term Debt Instruments | ebt, capital lease obligations, and notes payable and the average related interest rates were as follows (in thousands):
| Average interest rate at December 31, 2018 |  | Maturity |  | December 31, 2018 |  | December 31, 2017
Revolving loan facility | 2.88% |  | July 2023 |  | $ | 187,631 |  |  | $ | 3,000 |
Term loan facility | 3.76% |  | July 2023 |  | 1,150,000 |  |  | 680,000 |
Senior notes—fixed rate | 3.81% |  | May 2018 |  | — |  |  | 25,000 |
Senior notes—fixed rate | 4.60% |  | May 2021 |  | 75,000 |  |  | 75,000 |
Senior notes—fixed rate | 3.13% |  | December 2020 |  | 100,000 |  |  | 100,000 |
Senior notes—fixed rate | 4.23% |  | July 2028 |  | 350,000 |  |  | — |
Capital lease obligations | 5.28% |  | Various through 2029 |  | 17,587 |  |  | 19,889 |
Notes payable and other | 4.23% |  | Various through 2030 |  | 87,608 |  |  | 12,384 |
Debt issuance costs |  |  |  |  | (5,256 | ) |  | (2,261 | )
Total debt, capital lease obligations, and notes payable |  |  |  |  | $ | 1,962,570 |  |  | $ | 913,012 |
Less: current maturities |  |  |  |  | 66,543 |  |  | 47,746 |
Total long-term debt, capital lease obligations, and notes payable |  |  |  |  | $ | 1,896,027 |  |  | $ | 865,266 |
Summary of Activity Under Credit Arrangements, Excluding Acquired Borrowings | The following summarizes activity under Polaris’ credit arrangements (dollars in thousands):
| 2018 |  | 2017 |  | 2016
Total borrowings at December 31 | $ | 1,862,631 |  |  | $ | 883,000 |  |  | $ | 1,112,142 |
Average outstanding borrowings during year | $ | 1,474,485 |  |  | $ | 1,133,641 |  |  | $ | 638,614 |
Maximum outstanding borrowings during year | $ | 1,999,731 |  |  | $ | 1,319,105 |  |  | $ | 1,234,337 |
Interest rate at December 31 | 3.64 | % |  | 2.91 | % |  | 2.25 | %

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