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LONG-TERM DEBT | 6 Months Ended
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Jun. 30, 2018
Debt Disclosure [Abstract] |
LONG-TERM DEBT | LONG-TERM DEBT Long-term debt obligations on the consolidated balance sheet (in millions):
| June 30, 2018 |  | December 31, 2017
Fixed-rate notes payable due through 2028 | $ | 841 |  |  | $ | 959 |
Variable-rate notes payable due through 2028 | 1,485 |  |  | 1,625 |
Less debt issuance costs | (14 | ) |  | (15 | )
Total debt | 2,312 |  |  | 2,569 |
Less current portion | 314 |  |  | 307 |
Long-term debt, less current portion | $ | 1,998 |  |  | $ | 2,262 |
Weighted-average fixed-interest rate | 4.1 | % |  | 4.2 | %
Weighted-average variable-interest rate | 3.5 | % |  | 2.8 | %
During the six months ended June 30, 2018 the Company made debt payments of $258 million, including the prepayment of $43 million of debt. At June 30, 2018 long-term debt principal payments for the next five years and thereafter are as follows (in millions):
| Total
Remainder of 2018 | $ | 142 |
2019 | 317 |
2020 | 435 |
2021 | 418 |
2022 | 243 |
Thereafter | 768 |
Total | $ | 2,323 |
Bank Lines of Credit The Company had three credit facilities totaling $475 million as of June 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. A second credit facility for $75 million expires in September 2018, with a mechanism for annual renewal, and is secured by aircraft. Subsequent to June 30, 2018, we increased this credit facility from $75 million to $116 million and extended the maturity date to July 2019. 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 $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 was in compliance with this covenant at June 30, 2018.

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- Definition The entire disclosure for long-term debt. + 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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