Debt

6 Months Ended

Jun. 30, 2019

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



	June 30, 2019		December 31, 2018		July 1, 2018
Unsecured commercial paper	$	405,695	$	1,135,810	$	1,327,307

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



			June 30, 2019			December 31, 2018			July 1, 2018
Secured debt (Note 13)
Asset-backed Canadian commercial paper conduit facility			$	148,740		$	155,951		$	166,638
Asset-backed U.S. commercial paper conduit facilities			464,136			582,717			300,000
Asset-backed securitization debt			1,006,410			95,216			169,632
Less: unamortized discount and debt issuance costs			(3,541		)	(49		)	(202		)
Total secured debt			1,615,745			833,835			636,068
Unsecured debt (at par value)
Medium-term notes
Due in 2019, issued January 2016	2.25	%	—			600,000			600,000
Due in 2019, issued March 2017	LIBOR + 0.35%		—			150,000			150,000
Due in 2019, issued September 2014	2.40	%	600,000			600,000			600,000
Due in 2020, issued February 2015	2.15	%	600,000			600,000			600,000
Due in 2020, issued May 2018	LIBOR + 0.50%		450,000			450,000			450,000
Due in 2020, issued March 2017	2.40	%	350,000			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			—
Due in 2021, issued May 2018	3.55	%	350,000			350,000			350,000
Due in 2022, issued February 2019	4.05	%	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
Less: unamortized discount and debt issuance costs			(12,340		)	(12,993		)	(14,551		)
Total medium-term notes			4,687,660			4,887,007			4,435,449
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
Less: unamortized discount and debt issuance costs			(7,041		)	(7,376		)	(7,708		)
Total senior notes			742,959			742,624			742,292
Total unsecured debt			5,430,619			5,629,631			5,177,741
Gross long-term debt			7,046,364			6,463,466			5,813,809
Less: current portion of long-term debt, net of unamortized discount and debt issuance costs			(2,396,188		)	(1,575,799		)	(945,463		)
Total long-term debt			$	4,650,176		$	4,887,667		$	4,868,346

In May 2019, the Company entered into a $195.0 million 364-day credit facility which bears interest at variable rates and matures on May 11, 2020.