NOTE 13 – DEBT

Long-term debt consisted of the following at December 31:

In thousands
	2016		2015
Obligations under capital leases	$	11,121	$	15,024
$1.2 billion senior credit facility weighted average rate 2.14%, due in 2019		407,119		353,763
$1.0 billion term loan weighted average rate 2.07%, due in 2020		1,000,000		1,250,000
$175 million private placement notes 3.89%, due in 2017		175,000		175,000
$125 million private placement notes 2.68%, due in 2019		125,000		125,000
$225 million private placement notes 4.47%, due in 2020		225,000		225,000
$150 million private placement notes 2.89%, due in 2021		150,000		150,000
$125 million private placement notes 3.26%, due in 2022		125,000		125,000
$200 million private placement notes 2.72%, due in 2022		200,000		200,000
$100 million private placement notes 2.79%, due in 2023		100,000		100,000
$150 million private placement notes 3.18%, due in 2023		150,000		150,000
Promissory notes and deferred consideration weighted average rate of 2.43% and weighted average maturity of 3.2 years		191,648		239,731
Foreign bank debt weighted average rate 6.51% and weighted average maturity of 2.1 years		99,428		105,530
Total debt		2,959,316		3,214,048
Less: current portion of total debt		72,822		161,409
Less: unamortized debt issuance costs		9,179		12,287
Long-term portion of total debt	$	2,877,315	$	3,040,352

Our senior credit facility, term loan, and the private placement notes all require us to comply with the same financial, reporting and other covenants and restrictions, including a restriction on dividend payments. At December 31, 2016, we were in compliance with all of our financial debt covenants. Our senior credit facility, term loan, and the private placement notes rank pari passu to each other and all other unsecured debt obligations.

At December 31, 2016 and 2015, we had $138.0 million and $160.4 million, respectively, committed to outstanding letters of credit under our senior credit facility. The unused portion of the revolving credit facility was $654.9 million and $685.8 million at December 31, 2016 and 2015, respectively.

We classified our $175.0 million private placement notes that mature in October 2017 as long-term debt due to our intent to settle this obligation by borrowing on the available and unused capacity on our $1.2 billion senior credit facility due in 2019.

Payments due on long-term debt, excluding capital lease obligations, during each of the five years subsequent to December 31, 2016 are as follows:

In thousands
2017	$	70,017
2018		208,328
2019		1,044,598
2020		878,011
2021		161,474
Thereafter		585,767
	$	2,948,195

During the years ended December 31, 2016, 2015 and 2014, we paid interest of $88.8 million, $68.0 million, and $57.8 million for the, respectively.

Property under capital leases included within property, plant and equipment on the Consolidated Balance Sheets is as follows at December 31:

In thousands
	2016			2015
Land	$	151		$	157
Buildings		775			804
Machinery and equipment		6,634			6,105
Vehicles		9,907			15,925
Less: accumulated depreciation		(5,523	)		(7,148	)
	$	11,944		$	15,843

Amortization related to these capital leases is included within depreciation expense.

Minimum future lease payments under capital leases are as follows:

In thousands
2017	$	3,692
2018		2,759
2019		2,614
2020		2,093
2021		2,119
Thereafter		106
Total minimum lease payments		13,383
Less: amounts representing interest		(2,262	)
Present value of net minimum lease payments		11,121
Less: current portion included in current portion of long-term debt		(2,805	)
Long-term obligations under capital leases	$	8,316