Debt

On February 16, 2017, we issued $900 of fixed rate senior notes consisting of $300 due March 1, 2022 that bear an annual interest rate of 2.125%, $300 due March 1, 2027 that bear an annual interest rate of 2.8%, and $300 due March 1, 2047 that bear an annual interest rate of 3.65%. 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 $871, after deducting underwriting discounts, commissions and offering expenses.

Interest incurred, including amounts capitalized, was $541, $535 and $497 for the years ended December 31, 2017, 2016 and 2015, respectively. Interest expense recorded by BCC is reflected as Boeing Capital interest expense on our Consolidated Statements of Operations. Total Company interest payments were $527, $523 and $488 for the years ended December 31, 2017, 2016 and 2015, respectively.

We have $5,000 currently available under credit line agreements, of which $2,500 is a 364-day revolving credit facility expiring in October 2018, $2,470 expires in November 2022, and $30 expires in November 2021. 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:



	2017		2016
Unsecured debt securities		$599		$255
Non-recourse debt and notes	33		33
Capital lease obligations	52		57
Commercial Paper	600
Other notes	51		39
Total		$1,335		$384

Debt at December 31 consisted of the following:



	2017		2016
Unsecured debt securities
0.95% - 4.88% due through 2047		$6,127	5,250
5.80% - 6.88% due through 2043	2,386		2,383
7.25% - 8.75% due through 2043	1,637		1,641
Commercial paper	600
Variable rate: 3-month USD LIBOR plus 12.5 basis points due 2017				$250

Non-recourse debt and notes
6.98% - 7.38% notes due through 2021	94		127
Capital lease obligations due through 2034	138		138
Other notes	135		163
Total debt		$11,117		$9,952

As of December 31, 2017, borrowings of commercial paper of $600, with a weighted-average interest rate of 1.4%, were supported by unused commitments under the revolving credit agreement. We had no commercial paper borrowings in 2016.

Total debt is attributable to:



	2017		2016
BCC		$2,523		$2,864
Other Boeing	8,594		7,088
Total debt		$11,117		$9,952

At December 31, 2017, $94 of debt (non-recourse debt, notes and capital lease obligations) was collateralized by customer financing assets totaling $231.

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



	2018		2019		2020		2021		2022
Scheduled principal payments		$1,340		$1,275		$1,148		$728		$554