US Airways 2003 Annual Report Download - page 49
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Table of Contents
As of December 31, 2003 and 2002, the Company had $1.53 billion and $745 million of variable-rate debt outstanding, respectively. Additional
information regarding the Company's long-term debt obligations as of December 31, 2003 is as follows (dollars in millions):
12/31/03
Fair
Value
Expected Maturity Date
2004
2005
2006
2007
2008
Thereafter
Total
Fixed-rate debt $ 59 $ 90 $ 69 $ 74 $ 70 $ 1,137 $ 1,499 $ 1,433
Weighted avg. interest rate 8.0% 11.9% 7.9% 7.9% 7.6% 7.6%
Variable-rate debt $ 300 $ 50 $ 143 $ 237 $ 237 $ 563 $ 1,530 $ 1,360
Weighted avg. interest rate 5.9% 4.8% 5.7% 5.8% 5.8% 5.6%
Equity Price Risk
US Airways holds Sabre Holdings Corporation (Sabre) stock options that have a fair value and carrying value of $7 million as of December 31, 2003.
Fair value is computed using the Black-Scholes stock option pricing model. A hypothetical ten percent decrease in the December 31, 2003 value of the Sabre
stock price would decrease the fair value of the stock options by $2 million. See Note 4(b) to the Company's Notes to Consolidated Financial Statements for
information related to the fair value of these options.
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