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LONG-TERM DEBT AND LINES OF CREDIT (Tables)
6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt

As of June 30, 2020 and December 31, 2019, long-term debt consisted of the following:
 
June 30, 2020
 
December 31, 2019
 
 
 
 
 
(in thousands)
 
 
 
 
3.800% senior notes due April 1, 2021
$
756,597

 
$
760,996

3.750% senior notes due June 1, 2023
564,794

 
567,330

4.000% senior notes due June 1, 2023
569,226

 
572,522

2.650% senior notes due February 15, 2025
992,266

 
991,423

4.800% senior notes due April 1, 2026
814,974

 
820,623

4.450% senior notes due June 1, 2028
484,785

 
486,982

3.200% senior notes due August 15, 2029
1,235,634

 
1,234,843

2.900% senior notes due May 15, 2030
988,408

 

4.150% senior notes due August 15, 2049
739,610

 
739,431

Unsecured term loan facility
1,983,767

 
1,981,758

Unsecured revolving credit facility

 
903,000

Finance lease liabilities
47,140

 
32,996

Other borrowings
96,400

 
33,597

Total long-term debt
9,273,601

 
9,125,501

Less current portion
833,334

 
35,137

Long-term debt, excluding current portion
$
8,440,267

 
$
9,090,364


Schedule of Maturities of Long-Term Debt
At June 30, 2020, maturities of long-term debt (excluding finance lease liabilities) were as follows by year (in thousands):
Year ending December 31,
 
 
 
Remainder of 2020
$
36,227

2021
801,771

2022
58,403

2023
1,300,000

2024
1,750,000

2025
1,000,000

2026 and thereafter
4,200,000

Total
$
9,146,401




Schedule of Derivative Instruments
The table below presents information about our derivative financial instruments, designated as cash flow hedges, included in the consolidated balance sheets:
 
 
 
 
 
 
 
 
Fair Values
Derivative Financial Instruments
 
Balance Sheet Location
 
Weighted-Average Fixed Rate of Interest at June 30, 2020
 
Range of Maturity Dates at
June 30, 2020
 
June 30, 2020
 
December 31, 2019
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps (Notional of $250 million at December 31, 2019)
 
Prepaid expenses and other current assets
 
NA
 
NA
 
$

 
$
472

Interest rate swaps (Notional of $550 million at June 30, 2020)
 
Accounts payable and accrued liabilities
 
1.65%
 
July 31, 2020 - March 31, 2021
 
$
4,244

 
$

Interest rate swaps (Notional of $1.25 billion at June 30, 2020 and $1.55 billion at December 31, 2019)
 
Other noncurrent liabilities
 
2.73%
 
December 31, 2022
 
$
82,479

 
$
45,604


Schedule of Derivative Instrument Effect on Other Comprehensive Income (Loss)

The table below presents the effects of our interest rate swaps on the consolidated statements of income and comprehensive income for the three and six months ended June 30, 2020 and 2019:
 
Three Months Ended
 
Six Months Ended
 
June 30, 2020
 
June 30, 2019
 
June 30, 2020
 
June 30, 2019
 
 
 
 
 
 
 
 
 
(in thousands)
 
 
 
 
 
 
 
 
 
 
 
 
Net unrealized losses recognized in other comprehensive income (loss)
$
(5,630
)
 
$
(42,222
)
 
$
(53,526
)
 
$
(56,731
)
Net unrealized losses (gains) reclassified out of other comprehensive income (loss) to interest expense
$
9,982

 
$
(893
)
 
$
14,653

 
$
(2,723
)