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Debt | 3 Months Ended
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Mar. 31, 2019
Debt Disclosure [Abstract] |
Debt | DEBT The following table summarizes our debt:
| Maturity | Interest Rate(s)(1) Per Annum at | March 31, | December 31,
(in millions) | Dates | March 31, 2019 | 2019 | 2018
2019 Unsecured Term Loan | February 2020 | 3.39% | variable | $ | 700 |  | $ | — |
Financing arrangements secured by aircraft: |  |  |  |  |  |  |  |
Certificates(2) | 2019 | to | 2027 | 3.20% | to | 8.02% | 2,276 |  | 1,837 |
Notes(2) | 2019 | to | 2025 | 2.91% | to | 6.46% | 1,646 |  | 1,787 |
NYTDC Special Facilities Revenue Bonds, Series 2018(2) | 2022 | to | 2036 | 4.00% | to | 5.00% | 1,383 |  | 1,383 |
Unsecured notes | 2020 | to | 2028 | 2.60% | to | 4.38% | 4,050 |  | 4,050 |
Other financings(2)(3) | 2019 | to | 2030 | 3.49% | to | 8.75% | 252 |  | 251 |
2018 Unsecured Revolving Credit Facility | 2021 | to | 2023 | undrawn | variable | — |  | — |
Other revolving credit facilities | 2019 | to | 2021 | undrawn | variable | — |  | — |
Total secured and unsecured debt |  |  |  |  |  |  | 10,307 |  | 9,308 |
Unamortized premium and debt issue cost, net |  |  |  |  |  |  | 82 |  | 60 |
Total debt |  |  |  |  |  |  | 10,389 |  | 9,368 |
Less: current maturities |  |  |  |  |  |  | (2,954 | ) | (1,409 | )
Total long-term debt |  |  |  |  |  |  | $ | 7,435 |  | $ | 7,959 |
(1) | Certain aircraft and other financings are comprised of variable rate debt. All variable rates are equal to LIBOR (generally subject to a floor) or another index rate, in each case plus a specified margin.
(2) | Due in installments.
(3) | Primarily includes unsecured bonds and debt secured by certain accounts receivable and real estate.
2019 Unsecured Term Loan In February 2019, we entered into a $1 billion term loan issued by two lenders and subsequently repaid $300 million in March 2019. This loan, which is unsecured, bears interest at a variable rate equal to LIBOR plus a specified margin and is due in February 2020. We used the net proceeds of the term loan to accelerate planned 2019 repurchases under our share repurchase program. 2019-1 EETC In March 2019, we completed a $500 million offering of Pass Through Certificates, Series 2019-1 ("2019-1 EETC") through a pass through trust. This amount is included in Certificates in the table above. The details of the 2019-1 EETC, which is secured by 14 aircraft, are shown in the table below:
(in millions) | Total Principal | Fixed Interest Rate | Issuance Date | Final Maturity Date
2019-1 Class AA Certificates | $ | 425 |  | 3.204% | March 2019 | April 2024
2019-1 Class A Certificates | 75 |  | 3.404% | March 2019 | April 2024
Total | $ | 500 |  |  |  |
Availability Under Revolving Credit Facilities The table below shows availability under revolving credit facilities, all of which were undrawn, as of March 31, 2019:
(in millions) |
2018 Unsecured Revolving Credit Facility | $ | 2,650 |
Other revolving credit facilities | 389 |
Total availability under revolving credit facilities | $ | 3,039 |
In February 2019, we drew $750 million from our 2018 Unsecured Revolving Credit Facility for general corporate purposes, which was fully repaid in March 2019. Fair Value of Debt Market risk associated with our fixed- and variable-rate long-term debt relates to the potential reduction in fair value and negative impact to future earnings, respectively, from an increase in interest rates. The fair value of debt, shown below, is principally based on reported market values, recently completed market transactions and estimates based on interest rates, maturities, credit risk and underlying collateral. Long-term debt is primarily classified as Level 2 within the fair value hierarchy.
(in millions) | March 31, 2019 | December 31, 2018
Total debt at par value | $ | 10,307 |  | $ | 9,308 |
Unamortized premium and debt issue cost, net | 82 |  | 60 |
Net carrying amount | $ | 10,389 |  | $ | 9,368 |
Fair value | $ | 10,600 |  | $ | 9,400 |
Covenants We were in compliance with the covenants in our financings at March 31, 2019.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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