13. Long-Term Debt and Obligations Under Capital Leases


	2014		2013
	(in millions)
8.5% debentures payable 2022	$	118	$	118
Unamortized gain related to interest rate swaps⁽¹⁾		12		13
Obligations under capital leases		4		8
	$	134	$	139
Less: current portion of obligations under capital leases		2		3
	$	132	$	136

(1)

In 2009, the Company terminated an interest rate swap at a gain. This gain is being amortized as part of interest expense over the remaining term of the debt using the effective-yield method.

Interest expense related to long-term debt and the amortization of the associated debt issuance costs, was $9 million for all years presented.

Maturities of long-term debt and minimum rent payments under capital leases in future periods are:


	Long-Term Debt		Capital Leases		Total
	(in millions)
2015	$	—	$	2	$	2
2016		—		1		1
2017		—		1		1
2018 – 2019		—		—		—
Thereafter		118		—		118
	$	118	$	4	$	122
Less: Imputed interest		—		—		—
Current portion		—		2		2
	$	118	$	2	$	120