LONG-TERM DEBT

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



	March 31, 2017			December 31, 2016
Fixed-rate notes payable due through 2028	$	1,116		$	1,179
Variable-rate notes payable due through 2028	1,764			1,803
Less debt issuance costs	(17		)	(18		)
Total debt	2,863			2,964
Less current portion	332			319
Long-term debt, less current portion	$	2,531		$	2,645

Weighted-average fixed-interest rate	4.4		%	4.4		%
Weighted-average variable-interest rate	2.5		%	2.4		%

During the three months ended March 31, 2017, the Company made debt payments of $101 million.

At March 31, 2017, long-term debt principal payments for the next five years and thereafter were as follows (in millions):



	Total
Remainder of 2017	$	219
2018	350
2019	422
2020	449
2021	422
Thereafter	1,015
Total	$	2,877

Bank Lines of Credit

The Company has three credit facilities totaling $302 million. All three facilities have variable interest rates based on LIBOR plus a specified margin. One credit facility is for $100 million, expires in September 2017 and is secured by aircraft. The second credit facility is for $52 million, expires in October 2017 with a mechanism for annual renewal and is secured by aircraft. The third credit facility was renegotiated in March 2017 and increased from $100 million to $150 million. It expires in March 2022 and is secured by certain accounts receivable, spare engines, spare parts and ground service equipment. The Company has secured letters of credit against the $52 million facility, but has no plans to borrow using either of the two remaining facilities. All three credit facilities have a requirement to maintain a minimum unrestricted cash and marketable securities balance of $500 million.