LONG-TERM DEBT (Tables)

3 Months Ended

Mar. 31, 2021

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


	March 31, 2021			December 31, 2020
Fixed-rate notes payable due through 2029	$	186		$	198
Fixed-rate PSP notes payable due through 2031	426			290
Fixed-rate EETC payable due through 2025 & 2027	1,116			1,174
Variable-rate notes payable due through 2029	1,876			1,866
Less debt issuance costs and unamortized debt discount	(33)			(33)
Total debt	3,571			3,495
Less current portion	1,246			1,138
Long-term debt, less current portion	$	2,325		$	2,357

Weighted-average fixed-interest rate	4.0		%	4.3		%
Weighted-average variable-interest rate	1.7		%	1.9		%

Schedule of Maturities of Long-term Debt

At March 31, 2021 long-term debt principal payments for the next five years and thereafter are as follows (in millions):


	Total
Remainder of 2021	$	659
2022	796
2023	334
2024	240
2025	396
Thereafter	1,179
Total	$	3,604

- 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