Debt (Tables)

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

Debt With Contractual Term Less Than One Year

Debt with a contractual term less than one year is generally classified as short-term debt and consisted of the following as of December 31 (in thousands):

	2018		2017
Unsecured commercial paper	$	1,135,810	$	1,273,482
Total short-term debt	$	1,135,810	$	1,273,482

Debt With A Contractual Term Greater Than One Year

Debt with a contractual term greater than one year is generally classified as long-term debt and consisted of the following as of December 31 (in thousands):

	2018			2017
Secured debt (Note 12)
Asset-backed Canadian commercial paper conduit facility	$	155,951		$	174,779
Asset-backed U.S. commercial paper conduit facilities	582,717			279,457
Asset-backed securitization debt	95,216			353,085
Less: unamortized discount and debt issuance costs	(49		)	(461		)
Total secured debt	833,835			806,860
Unsecured notes (at par value)
6.80% Medium-term notes due in 2018, issued May 2008	—			877,488
2.25% Medium-term notes due in 2019, issued January 2016	600,000			600,000
Floating-rate Medium-term notes due in 2019, issued March 2017(a)	150,000			150,000
2.40% Medium-term notes due in 2019, issued September 2014	600,000			600,000
2.15% Medium-term notes due in 2020, issued February 2015	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
2.85% Medium-term notes due in 2021, issued January 2016	600,000			600,000
Floating-rate Medium-term notes due in 2021, issued November 2018(c)	450,000			—
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
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
4.625% Senior unsecured notes due in 2045, issued July 2015	300,000			300,000
Less: unamortized discount and debt issuance costs	(20,369		)	(19,821		)
Gross long-term debt	6,463,466			5,714,527
Less: current portion of long-term debt, net of unamortized discount and debt issuance costs	(1,575,799		)	(1,127,269		)
Total long-term debt	$	4,887,667		$	4,587,258

At December 31, 2018, the Company's consolidated balance sheet included outstanding balances related to the following secured notes with the related maturity dates and interest rates (in thousands):

Issue Date	Principal Amount at Date of Issuance	Weighted-Average Rate at Date of Issuance	Contractual Maturity Date
May 2015	$500,000	0.88%	May 2016 - December 2022
January 2015	$700,000	0.89%	February 2016 - August 2022

In addition, outstanding balances related to the following secured notes included in the Company's consolidated balance sheet at December 31, 2017 were repaid during 2018 (in thousands):

Issue Date	Principal Amount at Date of Issuance	Weighted-Average Rate at Date of Issuance	Contractual Maturity Date
April 2014	$850,000	0.66%	April 2015 - October 2021

Schedule of Maturities of Long-term Debt

A summary of the Company’s expected principal payments for debt obligations as of December 31, 2018 is as follows (in thousands):

2019	$	2,717,597
2020	1,562,889
2021	1,570,815
2022	578,256
2023	440,137
Thereafter	750,000
Total	$	7,619,694