DEBT (Tables)

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Schedule of debt

	Weighted-Average Interest Rate
	June 30, 2018	December 31, 2017	Maturities	June 30, 2018			December 31, 2017
				(In thousands)
Short-term debt and current portion of long-term debt:
Short-term debt	1.70%	1.79%		$	44,107		35,509
Current portion of long-term debt				696,441			790,560
Total short-term debt and current portion of long-term debt				740,548			826,069
Long-term debt:
U.S. commercial paper (1)	2.28%	1.56%	2020	519,916			570,218
Canadian commercial paper (1)	1.70%	—%	2020	47,175			—
Global revolving credit facility	3.12%	2.80%	2020	600			17,328
Unsecured U.S. notes — Medium-term notes (1)	3.06%	2.73%	2018-2025	4,562,972			4,014,091
Unsecured U.S. obligations	3.34%	2.79%	2019	50,000			50,000
Unsecured foreign obligations	1.61%	1.50%	2020-2021	224,406			230,380
Asset-backed U.S. obligations (2)	2.12%	1.85%	2018-2025	544,911			491,899
Capital lease obligations	3.48%	3.53%	2018-2023	17,349			20,871
Total before fair market value adjustment				5,967,329			5,394,787
Fair market value adjustment on notes subject to hedging (3)				(15,986		)	(7,192	)
Debt issuance costs				(17,525		)	(13,453	)
				5,933,818			5,374,142
Current portion of long-term debt				(696,441		)	(790,560	)
Long-term debt				5,237,377			4,583,582
Total debt				$	5,977,925		5,409,651

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(1) Amounts are net of unamortized original issue discounts of $8 million and $6 million at June 30, 2018 and December 31, 2017.

(2) Asset-backed U.S. obligations are related to financing transactions involving revenue earning equipment.

(3) The notional amount of the executed interest rate swaps designated as fair value hedges was $825 million at June 30, 2018 and December 31, 2017.