Boeing 2012 Annual Report Download - page 96

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84
Debt at December 31 consisted of the following:
2012 2011
Boeing Capital debt:
Unsecured debt securities
1.54% – 7.58% due through 2023 $2,465 $3,308
Non-recourse debt and notes
4.12% – 4.84% notes due through 2013 13 49
Capital lease obligations
0.91% due through 2015 33 43
Boeing Capital debt subtotal $2,511 $3,400
Other Boeing debt:
Unsecured debt securities
3.50% – 5.00% due through 2020 $2,686 $3,381
5.13% – 6.88% due through 2043 2,991 2,990
7.25% – 8.75% due through 2043 1,642 1,991
Non-recourse debt and notes
Enhanced equipment trust 231 269
Capital lease obligations due through 2017 146 192
Other notes 202 148
Other Boeing debt subtotal $7,898 $8,971
Total debt $10,409 $12,371
Other Boeing debt includes $300 due August 15, 2024 that was redeemable at the holder’s option on
August 15, 2012. The option expired in 2012. The debt was classified at December 31, 2012 as Long-
term debt and as Current liabilities at December 31, 2011.
At December 31, 2012, $277 of debt (non-recourse debt and notes and capital lease obligations) was
collateralized by customer financing assets totaling $461.
Scheduled principal payments for debt and minimum capital lease obligations for the next five years are
as follows:
2013 2014 2015 2016 2017
Boeing Capital $648 $526 $16 $505 $5
Other Boeing 794 838 844 547 42
Total $1,442 $1,364 $860 $1,052 $47
Note 15 – Postretirement Plans
The majority of our employees are covered by defined benefit pension plans. All nonunion and some union
employees hired after December 31, 2008 are not covered by defined benefit plans. We fund our major
pension plans through trusts. Pension assets are placed in trust solely for the benefit of the plans’
participants, and are structured to maintain liquidity that is sufficient to pay benefit obligations as well as
to keep pace over the long-term with the growth of obligations for future benefit payments.
We also have other postretirement benefits (OPB) other than pensions which consist principally of health
care coverage for eligible retirees and qualifying dependents, and to a lesser extent, life insurance to
certain groups of retirees. Retiree health care is provided principally until age 65 for approximately half