Note 8. Debt

Long-term debt and short-term borrowings consisted of the following, excluding securitized vacation ownership debt (in millions):


	June 30, 2013			December 31, 2012
Senior Credit Facility:
Revolving Credit Facility, maturing 2018	$	—		$	—
Senior Notes, interest at 7.375%, maturing 2015		294			294
Senior Notes, interest at 6.75%, maturing 2018		371			371
Senior Notes, interest at 7.15%, maturing 2019		206			206
Senior Notes, interest at 3.125%, maturing 2023		349			349
Mortgages and other, interest rates ranging from 1.00% to 9.00%, various maturities		46			55

		1,266			1,275
Less current maturities		(2	)		(2	)

Long-term debt	$	1,264		$	1,273

In 2011, we received an incentive from the State of Connecticut, in connection with the relocation of our corporate headquarters to Stamford, Connecticut, in the form of a $10 million loan (the “Loan”), which we classified in mortgages and other. The Loan had an opportunity for $7 million principal forgiveness if a certain employment threshold was met before December 31, 2014. During the second quarter of 2013, we received notification from the State of Connecticut that we had met the employment threshold and that $7 million of the Loan was forgiven.