Debt (Tables)

12 Months Ended

Dec. 31, 2019

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 at December 31, (in thousands): 

	2019		2018
Unsecured commercial paper	$	571,995	$	1,135,810

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 at December 31, (in thousands): 

	2019			2018
Secured debt:
Asset-backed Canadian commercial paper conduit facility	$	114,693		$	155,951
Asset-backed U.S. commercial paper conduit facilities	490,427			582,717
Asset-backed securitization debt	766,965			95,216
Unamortized discounts and debt issuance costs	(2,573		)	(49		)
	1,369,512			833,835

			2019			2018
Unsecured notes (at par value):
Medium-term notes:
Due in 2019, issued January 2016	2.25	%	—			600,000
Due in 2019, issued March 2017	LIBOR + 0.35%		—			150,000
Due in 2019, issued September 2014	2.40	%	—			600,000
Due in 2020, issued February 2015	2.15	%	600,000			600,000
Due in 2020, issued May 2018	LIBOR + 0.50%		450,000			450,000
Due in 2020, issued March 2017	2.40	%	350,000			350,000
Due in 2021, issued January 2016	2.85	%	600,000			600,000
Due in 2021, issued in November 2018	LIBOR + 0.94%		450,000			450,000
Due in 2021, issued May 2018	3.55	%	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
Due in 2023, issued February 2018	3.35	%	350,000			350,000
Due in 2024, issued November 2019(a)	3.14	%	672,936			—
Unamortized discounts and debt issuance costs			(12,809		)	(12,993		)
			4,760,127			4,887,007
Senior notes:
Due in 2025, issued July 2015	3.50	%	450,000			450,000
Due in 2045, issued July 2015	4.625	%	300,000			300,000
Unamortized discounts and debt issuance costs			(6,704		)	(7,376		)
			743,296			742,624
			5,503,423			5,629,631
Long-term debt			6,872,935			6,463,466
Current portion of long-term debt, net			(1,748,109		)	(1,575,799		)
Long-term debt, net			$	5,124,826		$	4,887,667

(a)

Euro denominated €600.0 million par value remeasured to U.S. dollar at December 31, 2019

At December 31, 2019, the Consolidated balance sheets 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
June 2019	$525,000	2.37%	July 2020 - November 2026
May 2019	$500,000	3.05%	July 2026

In addition, outstanding balances related to the following secured notes included in the Consolidated balance sheets at December 31, 2018 were repaid during 2019 (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

Schedule of Maturities of Long-term Debt

The Company’s future principal payments on debt obligations as of December 31, 2019 were as follows (in thousands): 

2020	$	2,326,688
2021	1,751,129
2022	1,351,281
2023	614,982
2024	672,936
Thereafter	750,000
	$	7,467,016