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LONG-TERM DEBT | 9 Months Ended
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Sep. 30, 2017
Debt Disclosure [Abstract] |
LONG-TERM DEBT | LONG-TERM DEBT Long-term debt obligations on the consolidated balance sheet (in millions):
| September 30, 2017 |  | December 31, 2016
Fixed-rate notes payable due through 2028 | $ | 1,024 |  |  | $ | 1,179 |
Variable-rate notes payable due through 2028 | 1,693 |  |  | 1,803 |
Less debt issuance costs | (16 | ) |  | (18 | )
Total debt | 2,701 |  |  | 2,964 |
Less current portion | 334 |  |  | 319 |
Long-term debt, less current portion | $ | 2,367 |  |  | $ | 2,645 |
Weighted-average fixed-interest rate | 4.3 | % |  | 4.4 | %
Weighted-average variable-interest rate | 2.6 | % |  | 2.4 | %
During the nine months ended September 30, 2017, the Company made debt payments of $265 million. At September 30, 2017, long-term debt principal payments for the next five years and thereafter are as follows (in millions):
| Total
Remainder of 2017 | $ | 55 |
2018 | 350 |
2019 | 422 |
2020 | 449 |
2021 | 422 |
Thereafter | 1,016 |
Total | $ | 2,714 |
Bank Lines of Credit The Company has three credit facilities with availability totaling $475 million. All three facilities have variable interest rates based on LIBOR plus a specified margin. One credit facility increased from $100 million to $250 million in June 2017. It expires in June 2021 and is secured by aircraft. The second credit facility increased from $52 million to $75 million in September 2017. It expires in September 2018 with a mechanism for annual renewal and is secured by aircraft. The third credit facility increased from $100 million to $150 million in March 2017. 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 $75 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 is in compliance with this covenant at September 30, 2017.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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