Debt

On May 18, 2016, we issued $1,200 of fixed rate senior notes consisting of $400 due June 15, 2023 that bear an annual interest rate of 1.875%, $400 due June 15, 2026 that bear an annual interest rate of 2.25%, and $400 due June 15, 2046 that bear an annual interest rate of 3.375%. 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 totaled $1,170, after deducting underwriting discounts, commissions and offering expenses.

Interest incurred, including amounts capitalized, was $535, $497 and $504 for the years ended December 31, 2016, 2015 and 2014, respectively. Interest expense recorded by BCC is reflected as Boeing Capital interest expense on our Consolidated Statements of Operations. Total Company interest payments were $523, $488 and $511 for the years ended December 31, 2016, 2015 and 2014, respectively.

We have $5,000 currently available under credit line agreements, of which $2,480 is a 364-day revolving credit facility expiring in November 2017, $2,370 expires in November 2021, $90 expires in November 2019 and $60 expires 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:



	2016		2015
Unsecured debt securities		$255		$1,004
Non-recourse debt and notes	33		36
Capital lease obligations	57		53
Other notes	39		141
Total		$384		$1,234

Debt at December 31 consisted of the following:



	2016		2015
Unsecured debt securities
Variable rate: 3-month USD LIBOR plus 12.5 basis points due 2017	$250			$250
0.95% - 4.88% due through 2046	5,250		5,075
5.88% - 6.88% due through 2043	2,383		2,381
7.25% - 8.75% due through 2043	1,641		1,645
Non-recourse debt and notes
6.98% - 7.38% notes due through 2021	127		163
Capital lease obligations due through 2024	138		150
Other notes	163		300
Total debt		$9,952		$9,964

Total debt is attributable to:



	2016		2015
BCC		$2,864		$2,355
Other Boeing	7,088		7,609
Total debt		$9,952		$9,964

At December 31, 2016, $127 of debt (non-recourse debt, notes and capital lease obligations) was collateralized by customer financing assets totaling $259.

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



	2017		2018		2019		2020		2021
Scheduled principal payments		$387		$714		$1,261		$1,134		$719