Note 7.

Debt

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

	March 31,			December 31,
	2016			2015
Senior Credit Facility:
Revolving Credit Facility, maturing 2020	$	—		$	—
Senior Notes, interest at 6.75%, maturing 2018		373			372
Senior Notes, interest at 7.15%, maturing 2019		211			209
Senior Notes, interest at 3.125%, maturing 2023		346			346
Senior Notes, interest at 3.75%, maturing 2025		344			344
Senior Notes, interest at 4.50%, maturing 2034		289			289
Capital lease obligations		159			169
Commercial paper, weighted average interest at 0.781% at March 31, 2016		591			408
Mortgages and other, interest rates ranging from non-interest bearing to 3.65%, various maturities		39			40
		2,352			2,177
Less current maturities		(34	)		(33	)
Long-term debt	$	2,318		$	2,144