LONG-TERM DEBT

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



	September 30, 2018			December 31, 2017
Fixed-rate notes payable due through 2028	$	706		$	959
Variable-rate notes payable due through 2028	1,335			1,625
Less debt issuance costs	(12		)	(15		)
Total debt	2,029			2,569
Less current portion	345			307
Long-term debt, less current portion	$	1,684		$	2,262

Weighted-average fixed-interest rate	4.1		%	4.2		%
Weighted-average variable-interest rate	3.4		%	2.8		%

During the nine months ended September 30, 2018 the Company made debt payments of $544 million, including the prepayment of $231 million of debt.

At September 30, 2018 long-term debt principal payments for the next five years and thereafter are as follows (in millions):



	Total
Remainder of 2018	$	123
2019	267
2020	381
2021	363
2022	179
Thereafter	725
Total	$	2,038

Bank Lines of Credit

The Company had three credit facilities totaling $516 million as of September 30, 2018. All three facilities have variable interest rates based on LIBOR plus a specified margin. One credit facility for $250 million expires in June 2021 and is secured by aircraft. The second credit facility increased from $75 million to $116 million in July 2018. It expires in July 2019, with a mechanism for annual renewal, and is secured by aircraft. A third credit facility for $150 million 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 $116 million facility, but has no plans to borrow using either of the two other facilities. All three credit facilities have a requirement to maintain a minimum unrestricted cash and marketable securities balance of $500 million. The Company was in compliance with this covenant at September 30, 2018.