Debt

On October 31, 2014, we issued $300 of fixed rate senior notes due October 30, 2021 with an annual interest rate of 2.35%, $300 of fixed rate senior notes due October 30, 2024 with an annual interest rate of 2.85%, and $250 of floating rate senior notes due October 30, 2017. Each series of fixed rate senior notes may be redeemed at our option at any time for a redemption price equal to the full principal amount plus any accrued and unpaid interest and a make-whole premium. The floating rate senior notes bear interest at an annual rate equal to three-month LIBOR plus 12.5 basis points, and are not redeemable prior to maturity. The notes are unsecured senior obligations and rank equally in right of payment with our existing and future unsecured and unsubordinated indebtedness. The net proceeds of the issuance, after deducting underwriting discounts, commissions and offering expenses, totaled $838, of which $544 were used to fund BCC.

Interest incurred, including amounts capitalized, was $504, $548 and $625 for the years ended December 31, 2014, 2013 and 2012, respectively. Interest expense recorded by BCC is reflected as Boeing Capital interest expense on our Consolidated Statements of Operations. Total Company interest payments were $511, $551 and $614 for the years ended December 31, 2014, 2013 and 2012, respectively.

We have $5,005 currently available under credit line agreements, of which $2,473 is a 364-day revolving credit facility expiring in November 2015 and $2,472 expires in November 2019 and $60 in November 2017. The 364-day credit facility has a one-year term out option which allows us to extend the maturity of any borrowings one year beyond the aforementioned expiration date. We continue to be in full compliance with all covenants contained in our debt or credit facility agreements.

Short-term debt and current portion of long-term debt at December 31 consisted of the following:



	2014		2013
Unsecured debt securities		$755		$1,370
Non-recourse debt and notes	38		32
Capital lease obligations	64		68
Other notes	72		93
Total		$929		$1,563

Debt at December 31 consisted of the following:



	2014		2013
Unsecured debt securities
Variable rate: 3-month USD LIBOR plus 1 basis point due 2014				$150
Variable rate: 3-month USD LIBOR plus 12.5 basis points due 2017		$250
0.95% - 5.00% due through 2024	4,223		4,832
5.88% - 6.88% due through 2043	2,394		2,392
7.25% - 8.75% due through 2043	1,657		1,672
Non-recourse debt and notes
6.98% - 7.38% notes due through 2021	201		233
Capital lease obligations due through 2024	161		151
Other notes	184		205
Total debt		$9,070		$9,635

Total debt is attributable to:



	2014		2013
BCC		$2,412		$2,577
Other Boeing	6,658		7,058
Total debt		$9,070		$9,635

At December 31, 2014, $213 of debt (non-recourse debt, notes and capital lease obligations) was collateralized by customer financing assets totaling $362.

Scheduled principal payments for debt and minimum capital lease obligations for the next five years are as follows:



	2015		2016		2017		2018		2019
Scheduled principal payments		$937		$1,098		$331		$653		$1,235