LONG-TERM DEBT

Long-term debt obligations on the consolidated balance sheet (in millions):



	September 30, 2015			December 31, 2014
Fixed-rate notes payable due through 2024	$	540		$	614
Variable-rate notes payable due through 2025	170			189
Total debt	710			803
Less current portion	117			117
Long-term debt, less current portion	$	593		$	686

Weighted-average fixed-interest rate	5.7		%	5.7		%
Weighted-average variable-interest rate	1.8		%	1.6		%

During the nine months ended September 30, 2015, the Company made debt payments of $93 million.

At September 30, 2015, long-term debt principal payments for the next five years and thereafter are as follows (in millions):



	Total
Remainder of 2015	$	24
2016	115
2017	121
2018	151
2019	114
Thereafter	185
Total	$	710

Bank Lines of Credit

The Company has two $100 million variable rate credit facilities, with interest rates based on LIBOR plus a specified margin. One of the $100 million facilities, which expires in September 2017, is secured by aircraft. The other $100 million facility, which expires in March 2017, is secured by certain accounts receivable, spare engines, spare parts and ground service equipment. The Company has no immediate plans to borrow using either of these facilities. These facilities have a requirement to maintain a minimum unrestricted cash and marketable securities balance of $500 million. The Company is in compliance with this covenant at September 30, 2015.