Debt (Tables)

12 Months Ended

Dec. 31, 2014

Total debt as of December 31, 2014, and 2013, is summarized below:

Millions	2014		2013
Notes and debentures, 2.3% to 7.9% due through 2054	$	9,266	$	8,068
Capitalized leases, 3.1% to 8.4% due through 2028		1,520		1,702
Equipment obligations, 3.2% to 6.7% due through 2031		597		110
Receivables Securitization (Note 11)		400		-
Term loans - floating rate, due in 2016		200		200
Mortgage bonds, 4.8% due through 2030		57		57
Medium-term notes, 9.3% to 10.0% due through 2020		23		32
Tax-exempt financings - floating rate, due in 2015		8		12
Unamortized discount		(591)		(604)
Total debt		11,480		9,577
Less: current portion		(462)		(705)
Total long-term debt	$	11,018	$	8,872

The following table presents aggregate debt maturities as of December 31, 2014, excluding market value adjustments:

During 2014, we issued the following unsecured, fixed-rate debt securities under our current shelf registration:

Date	Description of Securities
January 10, 2014	$300 million of 2.25% Notes due February 15, 2019
	$400 million of 3.75% Notes due March 15, 2024
	$300 million of 4.85% Notes due June 15, 2044
August 12, 2014	$350 million of 3.25% Notes due January 15, 2025
	$350 million of 4.15% Notes due January 15, 2045

Subsequent Event - In 2015, we issued the following unsecured, fixed-rate debt securities under our current shelf registration:

Date	Description of Securities
January 29, 2015	$250 million of 1.80% Notes due February 1, 2020
	$450 million of 3.375% Notes due February 1, 2035
	$450 million of 3.875% Notes due February 1, 2055

The following table lists the outstanding notes and debentures that were exchanged: