Boeing 2010 Annual Report Download - page 95

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Note 13 – Debt
Total debt interest incurred, including amounts capitalized, was $729, $610 and $520 for the years
ended December 31, 2010, 2009 and 2008, respectively. Interest expense recorded by BCC is
reflected as a separate line item on our Consolidated Statements of Operations, and is included in
earnings from operations. Total Company interest payments were $670, $502 and $493 for the years
ended December 31, 2010, 2009 and 2008, respectively.
We have $4,376 currently available under credit line agreements, of which $2,000 is a five-year credit
facility expiring in November 2012 and $ 2,376 is a 364-day revolving credit facility expiring in
November 2011. Both the five-year and 364-day credit facilities have a one-year term out option which
allows us to extend the maturity of any borrowings one year beyond the aforementioned expiration
dates. We have given BCC exclusive access to $1,500 under these arrangements. We continue to be
in full compliance with all covenants contained in our debt or credit facility agreements, including those
at BCC.
Short-term debt and current portion of long-term debt at December 31 consisted of the following:
2010 2009
Consolidated
Total
BCC
Only
Consolidated
Total
BCC
Only
Unsecured debt securities $785 $785 $644 $644
Non-recourse debt and notes 79 6 24 6
Capital lease obligations 6210 14 9
Other notes 22 25
Total $948 $801 $707 $659
Debt at December 31 consisted of the following:
2010 2009
Boeing Capital Corporation debt:
Unsecured debt securities
1.53% – 7.58% due through 2023 $ 3,339 $ 3,952
Non-recourse debt and notes
1.37% – 5.79% notes due through 2013 55 61
Capital lease obligations
0.92% due through 2015 52 62
Boeing Capital Corporation debt subtotal $ 3,446 $ 4,075
Other Boeing debt:
Unsecured debentures and notes
1.88% – 5.00% due through 2020 $ 3,376 $ 3,372
5.88% – 6.88% due through 2043 2,988 2,987
7.25% – 9.75% due through 2043 1,991 1,990
Non-recourse debt and notes
Enhanced equipment trust 342 360
Capital lease obligations due through 2017 135 14
Other notes 143 126
Other Boeing debt subtotal $ 8,975 $ 8,849
Total debt $12,421 $12,924
83