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.