LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2020

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


	September 30, 2020			December 31, 2019
Fixed-rate notes payable due through 2029	$	427		$	475
Fixed-rate PSP notes payable due through 2030	290			—
Fixed-rate EETC payable due through 2025 & 2027	1,174			—
Variable-rate notes payable due through 2029	1,966			1,032
Less debt issuance costs and unamortized debt discount	(35)			(8)
Total debt	3,822			1,499
Less current portion	1,150			235
Long-term debt, less current portion	$	2,672		$	1,264

Weighted-average fixed-interest rate	4.3		%	3.3		%
Weighted-average variable-interest rate	1.9		%	2.9		%

Schedule of Maturities of Long-term Debt

At September 30, 2020 long-term debt principal payments for the next five years and thereafter are as follows (in millions):


	Total
Remainder of 2020	$	73
2021	1,201
2022	393
2023	357
2024	265
Thereafter	1,568
Total	$	3,857

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details