Delta Airlines 2014 Annual Report Download - page 80

Amortization expense was $55 million for the year ended December 31, 2014 , and approximately $70 million
for each of the years ended
December 31, 2013 and 2012
. The following table summarizes the estimated aggregate amortization expense for each of the five succeeding fiscal
years:
NOTE 8 . LONG-TERM DEBT
The following table summarizes our long-term debt:
73
Years Ending December 31,
(in millions)
2015
$
18
2016
18
2017
17
2018
17
2019
16
Maturity Interest Rate(s) Per Annum at December 31,
(in millions) Dates December 31, 2014 2014 2013
Pacific Facilities
(1)(2)
:
Pacific Term Loan B-1
(3)
October 2018 3.25% variable
(6)
$
1,078
$
1,089
Pacific Term Loan B-2
(3)
April 2016 2.41% variable
(6)
392
396
Pacific Revolving Facility October 2017 undrawn variable
(6)
—
—
2011 Credit Facilities
(1)(4)
:
Term Loan Facility
(3)
April 2017 3.25% variable
(6)
1,327
1,341
Revolving Credit Facility April 2016 undrawn variable
(6)
—
—
Other secured financing arrangements:
Certificates
(5)(7)
2015 to 2023 4.75% to 9.75%
3,226
3,834
Aircraft financings
(5)(7)
2015 to 2026 0.62% to 6.76%
2,988
3,787
Other financings
(5)(8)
2015 to 2031 0.00% to 5.25%
305
627
Other revolving credit facilities
(1)
2015 to 2017 undrawn variable
(6)
—
—
Total secured debt
9,316
11,074
Other unsecured debt
(5)
2015 to 2035 3.01% to 9.00%
153
154
Total secured and unsecured debt
9,469
11,228
Unamortized discount, net
(90
)
(383
)
Total debt
9,379
10,845
Less: current maturities
(1,109
)
(1,449
)
Total long-term debt
$
8,270
$
9,396
(1)
Guaranteed by substantially all of our domestic subsidiaries (the "Guarantors").
(2)
Secured by a first lien on our Pacific route authorities and certain related assets.
(3)
Borrowings must be repaid annually in an amount equal to 1% per year of the original principal amount (paid in equal quarterly installments), with the balance due on the final maturity
date.
(4)
Secured by liens on certain of our and the Guarantors' assets, including accounts receivable, flight equipment, ground property and equipment, certain aircraft, spare engines and parts,
certain non-Pacific international routes, domestic slots, real estate and certain investments. These assets also secure $250 million of certain fuel hedging obligations pari passu (i.e., on
equal priority) with the term loan and revolver.
(5)
Due in installments.
(6)
Interest rate equal to LIBOR (generally subject to a floor) or another index rate, in each case plus a specified margin. Additionally, certain aircraft and other financings are comprised of
variable rate debt.
(7)
Secured by aircraft.
(8)
Primarily includes loans secured by spare parts, spare engines and real estate.