extinguishment costs incurred as a result of the repayment of certain aircraft secured indebtedness, including cash interest charges and non-cash write offs of unamortized debt issuance costs.
As a result of the 2013 refinancing activities and the early extinguishment of American’s 7.50% senior secured notes in 2014, we recognized $100 million less interest expense in 2014 as compared to the 2013 period.
Other nonoperating expense, net in 2014 consisted principally of net foreign currency losses of $114 million and early debt extinguishment charges of $56 million.
Other nonoperating expense, net in 2013 consisted principally of net foreign currency losses of $56 million and early debt extinguishment charges of $29 million.
Other nonoperating expense, net increased $64 million, or 73.1%, during 2014 primarily due to special charges recognized as a result of early debt extinguishment and an increase in foreign currency losses driven by the strengthening of the U. S.  dollar in foreign currency transactions, principally in Latin American markets.
We recorded a $43 million special charge for Venezuelan foreign currency losses in 2014.
See Part II, Item 7A.
Quantitative and Qualitative Disclosures About Market Risk for further discussion of our cash held in Venezuelan bolivars.
In addition, our 2014 nonoperating special items included $56 million primarily related to the early extinguishment of American’s 7.50% senior secured notes and other indebtedness.
Reorganization Items, Net Reorganization items refer to revenues, expenses (including professional fees), realized gains and losses and provisions for losses that are realized or incurred as a direct result of the Chapter 11 Cases.
The following table summarizes the components included in reorganization items, net on AAG’s consolidated statement of operations for the year ended December 31, 2013 (in millions):
## Table 0 ##
(1) In exchange for employees’ contributions to the successful reorganization, including agreeing to reductions in pay and benefits, we agreed in the Plan to provide each employee group a deemed claim, which was used to provide a distribution of a portion of the equity of the reorganized entity to those employees.
Each employee group received a deemed claim amount based upon a portion of the value of cost savings provided by that group through reductions to pay and benefits as well as through certain work rule changes.
The total value of this deemed claim was approximately $1.7 billion.
(2) Amounts include allowed claims (claims approved by the Bankruptcy Court) and estimated allowed claims relating to (i) the rejection or modification of financings related to aircraft and (ii) entry of orders treated as unsecured claims with respect to facility agreements supporting certain issuances of special facility revenue bonds.
The Debtors recorded an estimated claim associated with the rejection or modification of a financing or facility agreement when the applicable motion was filed with the Bankruptcy Court to reject or modify such financing or facility agreement and the Debtors believed that it was probable the motion would be approved, and there was sufficient information to estimate the claim.
See Note 2 to AAG’s Consolidated Financial Statements in Part II, Item 8A for further information.
(3) Pursuant to the Plan, the Debtors agreed to allow certain post-petition unsecured claims on obligations.
As a result, during the year ended December 31, 2013, we recorded reorganization charges to adjust estimated allowed claim amounts previously recorded on rejected special facility revenue bonds of $180 million, allowed general unsecured claims related to the 1990 and 1994 series of special facility revenue bonds that financed certain improvements at JFK, and rejected bonds that financed certain improvements at ORD, which are included in the table above.
## Table 1 ##
(a) Includes interest on variable rate debt calculated at rates in effect at December 31, 2015.
(b) Included in these amounts is the cost of minimum quantities of energy that the company is obligated to purchase at both fixed and variable prices.
(c) Included in these amounts is the cost of minimum quantities of natural gas supply, transportation and storage that the Utilities are obligated to purchase at both fixed and variable prices.
(d) Amounts shown for other purchase obligations, which reflect capital and operations and maintenance costs incurred by the Utilities in running their day-to-day operations, were derived from the Utilities’ purchasing system as the difference between the amounts authorized and the amounts paid (or vouchered to be paid) for each obligation.
For many of these obligations, the Utilities are committed to purchase less than the amount authorized.
Payments for the “Other Purchase Obligations” are generally assumed to be made ratably over the term of the obligations.
The Utilities believe that unreasonable effort and expense would be involved to enable them to report their “Other Purchase Obligations” in a different manner.
(e) Amounts represent commitments to purchase minimum quantities of electric energy and capacity, renewable energy certificates, natural gas, natural gas pipeline capacity, energy efficiency services and construction services entered into by Con Edison’s competitive energy businesses.
(f) Con Edison reasonably expects to resolve approximately $25 million of its liability for uncertain tax positions within the next twelve months, of which an estimated $12 million may be settled in cash payments.
Con Edison is unable to reasonably estimate the timing of the
Notes to the Consolidated Financial Statements 8.
Debt and Bank Credit Agreements and Leases
## Table 2 ##
(1) PPG entered into several interest rate swaps which had the effect of converting fixed rate notes to variable rates, based on the three-month London Interbank Offered Rate (LIBOR).
There were no interest rate swaps outstanding related to these instruments as of December 31, 2013 and 2012.
The impact of the derivatives on debt represents the fair value adjustment of the debt while the interest rate swaps were outstanding, which is being amortized as a reduction to interest expense over the remaining term of the debt.
The weighted average effective interest rate for these borrowings, including the effects of the swaps, was 4.1% and 4.6% for the years ended December 31, 2013 and 2012, respectively.
Refer to Note 10 for additional information.
Aggregate maturities of long-term debt during the next five years are (in millions) $4 in 2014, $421 in 2015, $400 in 2016, $77 in 2017, and $702 in 2018.
In March 2013, the Company repaid the $600 million of 5.75% notes due March 15, 2013 (the "2013 Notes").
In September 2012, PPG entered into a five-year credit agreement with several banks and financial institutions (the “Credit Agreement”).
The Credit Agreement provides for a $1.2 billion unsecured revolving credit facility.
In connection with entering into this Credit Agreement, the Company terminated its existing $1.2 billion revolving credit facility that was scheduled to expire in August 2013.
There was no outstanding amount due under this revolving facility at the time of its termination.
The Company has the ability to increase the size of the Credit Agreement by up to an additional $300 million, subject to the receipt of lender commitments and other conditions.
The Credit Agreement will terminate and all amounts outstanding thereunder will be due and payable on September 12, 2017, although under circumstances specified in the Credit Agreement and subject to the lenders' approval, the Company may make one request to extend such termination date by one year with respect to the approving lenders.
The Company has the right, subject to certain conditions set forth in the Credit Agreement, to designate certain subsidiaries of the Company as borrowers under the Credit Agreement.
In connection with any such designation, the Company is required to guarantee the obligations of any such subsidiaries under the Credit Agreement.
There were no amounts outstanding under the credit agreement at December 31, 2013; however, the available borrowing rate on a one month, U. S.  dollar denominated borrowing would have been 0.67%.
Borrowings under the Credit Agreement may be made in U. S.  dollars or in euros.
The Credit Agreement provides that loans will bear interest at rates based, at the Company's option, on one of two specified base rates plus a margin based on certain formulas defined in the Credit Agreement.
Additionally, the Credit Agreement contains a Commitment Fee, as defined in the Credit Agreement, on the amount of unused commitments under the Credit Agreement ranging from 0.080% to 0.225% per annum.
The applicable date and the Commitment Fee will be determined with reference to the pricing grid set forth in the Credit Agreement referencing the ratings established by Standard & Poor's Financial Services LLC and Moody's Investor Service Inc.  for the Company's non-credit enhanced, long-term, senior, unsecured debt.
The average Commitment Fee in 2013 was 0.125% and PPG is committed to pay 0.125% in 2014.
The Credit Agreement contains usual and customary restrictive covenants for facilities of its type, which include, with specified exceptions, limitations on the Company's ability to create liens or other encumbrances, to enter into sale and leaseback transactions and to enter into consolidations, mergers or transfers of all or substantially all of its assets.
The Credit Agreement maintains the same restrictive covenant as the prior revolving credit facility whereby the Company must maintain a ratio of Total Indebtedness to Total Capitalization, as defined in the Credit Agreement, of 60% or less.
As of December 31, 2013, total indebtedness was 36% of the Company’s total capitalization.
As of December 31, 2013, PPG was in full compliance with the restrictive covenants under its various credit agreements, loan agreements and indentures.
The Credit Agreement also contains customary events of default, including the failure to make timely payments when due under the Credit Agreement or other material indebtedness, the failure to satisfy covenants contained in the Credit Agreement, a change in control of the Company and specified events of bankruptcy and insolvency that would permit the lenders to accelerate the repayment of any loans.
Additionally, substantially all of the Company’s debt agreements contain customary cross-default provisions.
Those provisions generally provide that a default on a debt service payment of $10 million or more for longer than the grace period provided (usually 10 days) under one agreement may result in an event of default under other agreements.
None of the Company’s primary debt obligations are secured or guaranteed by the Company’s affiliates.
On July 31, 2012, PPG completed a public offering of $400 million in aggregate principal amount of its 2.70% Notes due

<table><tr><td></td><td>2013</td></tr><tr><td>Labor-related deemed claim -1</td><td>$1,733</td></tr><tr><td>Aircraft and facility financing renegotiations and rejections -2, -3</td><td>325</td></tr><tr><td>Fair value of conversion discount -4</td><td>218</td></tr><tr><td>Professional fees</td><td>199</td></tr><tr><td>Other</td><td>180</td></tr><tr><td>Total reorganization items, net</td><td>$2,655</td></tr></table>
<table><tr><td></td><td colspan="5">Payments Due by Period</td></tr><tr><td>(Millions of Dollars)</td><td>Total</td><td>1 yearor less</td><td>Years2 & 3</td><td>Years4 & 5</td><td>After 5years</td></tr><tr><td>Long-term debt (Statement of Capitalization)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>CECONY</td><td>$11,536</td><td>$650</td><td>$1,200</td><td>$825</td><td>$8,861</td></tr><tr><td>O&R</td><td>675</td><td>79</td><td>58</td><td>63</td><td>475</td></tr><tr><td>Competitive energy businesses and parent</td><td>647</td><td>10</td><td>24</td><td>29</td><td>584</td></tr><tr><td>Interest on long-term debt (a)</td><td>10,842</td><td>602</td><td>1,147</td><td>946</td><td>8,147</td></tr><tr><td>Total long-term debt, including interest</td><td>23,700</td><td>1,341</td><td>2,429</td><td>1,863</td><td>18,067</td></tr><tr><td>Capital lease obligations (Note J)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>CECONY</td><td>3</td><td>1</td><td>1</td><td>1</td><td>—</td></tr><tr><td>Total capital lease obligations</td><td>3</td><td>1</td><td>1</td><td>1</td><td>—</td></tr><tr><td>Operating leases (Notes J and Q)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>CECONY</td><td>98</td><td>12</td><td>24</td><td>19</td><td>43</td></tr><tr><td>O&R</td><td>4</td><td>1</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Competitive energy businesses</td><td>106</td><td>5</td><td>11</td><td>11</td><td>79</td></tr><tr><td>Total operating leases</td><td>208</td><td>18</td><td>36</td><td>31</td><td>123</td></tr><tr><td>Purchase obligations</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Electricity purchase power agreements – Utilities (Note I)</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>CECONY</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Energy (b)</td><td>3,634</td><td>577</td><td>554</td><td>347</td><td>2,156</td></tr><tr><td>Capacity</td><td>1,235</td><td>180</td><td>187</td><td>105</td><td>763</td></tr><tr><td>Total CECONY</td><td>4,869</td><td>757</td><td>741</td><td>452</td><td>2,919</td></tr><tr><td>O&R</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Energy and Capacity (b)</td><td>118</td><td>76</td><td>42</td><td>—</td><td>—</td></tr><tr><td>Total electricity and purchase power agreements – Utilities</td><td>4,987</td><td>833</td><td>783</td><td>452</td><td>2,919</td></tr><tr><td colspan="2">Natural gas supply, transportation, and storage contracts – Utilities (c)</td><td></td><td></td><td></td><td></td></tr><tr><td>CECONY</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Natural gas supply</td><td>206</td><td>108</td><td>79</td><td>19</td><td>—</td></tr><tr><td>Transportation and storage</td><td>1,063</td><td>236</td><td>403</td><td>148</td><td>276</td></tr><tr><td>Total CECONY</td><td>1,269</td><td>344</td><td>482</td><td>167</td><td>276</td></tr><tr><td>O&R</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Natural gas supply</td><td>17</td><td>6</td><td>7</td><td>4</td><td>—</td></tr><tr><td>Transportation and storage</td><td>198</td><td>44</td><td>75</td><td>28</td><td>51</td></tr><tr><td>Total O&R</td><td>215</td><td>50</td><td>82</td><td>32</td><td>51</td></tr><tr><td>Total natural gas supply, transportation and storage contracts</td><td>1,484</td><td>394</td><td>564</td><td>199</td><td>327</td></tr><tr><td>Other purchase obligations</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>CECONY (d)</td><td>3,869</td><td>1,577</td><td>1,629</td><td>641</td><td>22</td></tr><tr><td>O&R (d)</td><td>237</td><td>91</td><td>127</td><td>5</td><td>14</td></tr><tr><td>Competitive energy businesses (e)</td><td>384</td><td>324</td><td>56</td><td>4</td><td>—</td></tr><tr><td>Total other purchase obligations</td><td>4,490</td><td>1,992</td><td>1,812</td><td>650</td><td>36</td></tr><tr><td>Uncertain tax positions (f)</td><td>12</td><td>12</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Total</td><td>$34,884</td><td>$4,591</td><td>$5,625</td><td>$3,196</td><td>$21,472</td></tr></table>
<table><tr><td>(Millions)</td><td>2013</td><td>2012</td></tr><tr><td>5.75% notes, due 2013<sup>-1</sup></td><td>$—</td><td>$600</td></tr><tr><td>3<sup></sup><sup>7</sup>/<sub>8</sub>% notes, due 2015 (€300)</td><td>413</td><td>395</td></tr><tr><td>1.9 % notes, due 2016<sup>-1</sup></td><td>249</td><td>249</td></tr><tr><td>7<sup>3</sup>/<sub>8</sub>% notes, due 2016<sup>-1</sup></td><td>146</td><td>146</td></tr><tr><td>6<sup></sup><sup>7</sup>/<sub>8</sub>% notes, due 2017</td><td>74</td><td>74</td></tr><tr><td>6.65% notes, due 2018</td><td>700</td><td>700</td></tr><tr><td>7.4% notes, due 2019</td><td>198</td><td>198</td></tr><tr><td>3.6% notes, due 2020</td><td>495</td><td>495</td></tr><tr><td>9% non-callable debentures, due 2021<sup>-1</sup></td><td>149</td><td>149</td></tr><tr><td>2.70% notes, due 2022</td><td>400</td><td>400</td></tr><tr><td>7.70% notes, due 2038</td><td>249</td><td>249</td></tr><tr><td>5.5% notes, due 2040</td><td>248</td><td>248</td></tr><tr><td>Impact of derivatives on debt<sup>-1</sup></td><td>21</td><td>31</td></tr><tr><td>Various other non-U.S. debt, weighted average 0.7% as of December 31, 2013 and 3.4% of December 31, 2012.</td><td>4</td><td>5</td></tr><tr><td>Capital lease obligations</td><td>30</td><td>32</td></tr><tr><td>Total</td><td>3,376</td><td>3,971</td></tr><tr><td>Less payments due within one year</td><td>4</td><td>603</td></tr><tr><td>Long-term debt</td><td>$3,372</td><td>$3,368</td></tr></table>

Question: What is the growing rate of total long-term debt in the year with the most Interest on long-term debt?