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| Notes to Consolidated Financial
Statements |
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| The $300 debentures due August 15,
2024, are redeemable at the holder’s option
on August 15, 2012. All other
debentures and notes are not redeemable prior to
maturity. Maturities of long-term debt for the next
five years
are as follows: |
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2002 |
2003 |
2004 |
2005 |
2006 |
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| Boeing Capital Corporation (BCC) |
| Other than BCC |
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$1,321 |
$1,323 |
$443 |
$1,239 |
$1,617 |
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| Total consolidated debt attributable to
BCC amounted to $7,295 and $4,318 as of December
31, 2001 and 2000. |
| The Company has $4,500 currently available
under credit line agreements with a group
of commercial banks.
Boeing Capital Corporation, a corporation
wholly owned by the Company, is named a subsidiary
borrower for up
to $2,000 under these arrangements. The Company
has complied with the restrictive covenants
contained in
various debt agreements. |
| On February 16, 2001, BCC filed a public
shelf registration of $5,000 with the Securities
and Exchange Commission
SEC). From this $5,000 shelf, BCC received
proceeds on March 8, 2001, from the issuance
of $750 in 6.10%
senior notes due 2011. On May 10, 2001, BCC
received proceeds from the issuance of $1,000
in 5.65% senior
notes due 2006. On November 9, 2001, BCC received
proceeds from the issuance of $1,500 in two
parts:
$750, 5.75% due 2007, and $750, 6.5% due 2012.
Effective October 31, 2001, $1,000 was allocated
to the
Series XI medium-term note program. As of
December 31, 2001, there had been no issuances
from this mediumterm
note program, and additionally, $750 of the
$5,000 shelf registration had not been allocated
to any program. |
| At December 31, 2001 and 2000, borrowings
under commercial paper and uncommitted short-term
bank facilities
totaling $43 and $651 were supported by available
unused commitments under the revolving credit
agreement. |
| On May 24, 2001, American Airlines issued
Enhanced Equipment Trust Certificates (EETC),
and the Company
through BCC received proceeds attributable
to monetization of lease receivables associated
with 32 MD-83 aircraft
owned by BCC and on lease to American Airlines.
These borrowings are non-recourse to the Company
and
are collateralized by the aircraft. The effective
interest rates range from 6.82% to 7.69%. |
| BCC has available approximately $60 in uncommitted,
short-term bank credit facilities whereby
BCC may borrow,
at interest rates which are negotiated at
the time of the borrowings, upon such terms
as BCC and the
banks may mutually agree. At December 31,
2001 and 2000, there were no outstanding borrowings
under these
credit facilities. |
| Total debt interest, including amounts capitalized,
was $730, $527 and $512 for the years ended
December 31,
2001, 2000 and 1999, and interest payments
were $587, $599 and $517, respectively. |
| Short-term debt and current portion of long-term
debt as of December 31, 2001, consisted of
the following: $495
of unsecured debentures and notes, $758 of
senior debt securities, senior medium-term
notes and subordinated
notes, $57 of capital lease obligations, and
$89 of other notes. |
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