Note 4 – Debt

The carrying value of debt, including the net effect of interest rate swap revaluation adjustments and unamortized deferred debt costs, consisted of the following:


(Interest rates are the contractual rates at September 30, 2012)	September 30, 2012		December 31, 2011
2.13% - 7.58% fixed rate notes due through 2019	$	2,464	$	3,283
1.62% floating rate note due in 2023		25		25
1.33% - 4.84% non-recourse notes due through 2013		43		49
1.03% capital lease obligation due through 2015		35		43
	$	2,567	$	3,400

At both September 30, 2012, and December 31, 2011, we had interest rate swaps which effectively convert debt of $388 from fixed rates to floating rates.

The most restrictive covenants in our debt agreements require us to (a) limit the payment of cash dividends to the extent that our consolidated assets would be less than 115% of our consolidated liabilities (excluding deferred taxes) after dividend payments and (b) restrict the amount of liens on our property to secure indebtedness to 15% or less of consolidated assets, other than liens specifically excluded. At September 30, 2012, we were in compliance with these covenants.