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DEBT (Tables)
 6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Debt
 Weighted Average Interest Rate  
 June 30, 2020MaturitiesJune 30,
2020		December 31,
2019
   (In thousands)
Debt:
U.S. commercial paper (1)
0.69%2023$76,410  $511,486  
Canadian commercial paper (1)
1.24%2023118,146  136,199  
Trade receivables program1.11%2021200,000  —  
Global revolving credit facility1.20%20231,800  8,104  
Unsecured U.S. notes — Medium-term notes (1)(2)
3.33%2020-20266,071,198  5,965,064  
Unsecured U.S. obligations2.33%2021-2024600,000  200,000  
Unsecured foreign obligations2.04%2020-2024309,627  270,719  
Asset-backed U.S. obligations (3)
2.51%2020-2026751,567  807,374  
Finance lease obligations and other2020-207347,869  51,717  
8,176,617  7,950,663  
Debt issuance costs(28,917) (25,875) 
Total debt8,147,700  7,924,788  
Short-term debt and current portion of long-term debt(1,460,604) (1,154,564) 
Long-term debt$6,687,096  $6,770,224  
 ————————————
(1)Amounts are net of unamortized original issue discounts of $5 million and $6 million as of June 30, 2020 and December 31, 2019, respectively.
(2)Amounts are inclusive of the fair market values of our hedging instruments on our notes of assets of $6 million as of June 30, 2020. The fair market values of our hedging instruments were not material as of December 31, 2019. The notional amount of the executed interest rate swaps designated as fair value hedges was $375 million and $525 million as of June 30, 2020 and December 31, 2019, respectively.
(3)Asset-backed U.S. obligations are related to financing transactions backed by a portion of our revenue earning equipment.

The following table includes our proceeds from borrowings and repayment of debt for the six months ended June 30, 2020.

Debt ProceedsDebt Repayments
(In thousands)(In thousands)
Floating-rate unsecured 364-day U.S. term loan$400,000  
2.65% Medium-term notes (due March 2020)
$400,000  
4.625% Medium-term notes (due June 2025)
399,924  
2.50% Medium-term notes (due May 2020)
300,000  
3.35% Medium-term notes (due September 2025)
399,724  
Unsecured foreign term loans (1.71% due March 2020 and 1.89% due March 2020)
177,926  
Trade receivables program300,000  Trade receivables program100,000  
Unsecured foreign term loans (1.71% due February 2021 and 1.89% due February 2023)
177,926  Asset-backed U.S. obligations60,318  
Unsecured foreign term loans (2.94% due February 2021 and 2.99% due February 2022)
60,132  
Canadian term loan, finance lease obligations, and other repayments
25,852  
Unsecured foreign term loan (3.44% due February 2023)
18,791  
Total debt proceeds
$1,756,497  Total debt repaid$1,064,096