debt maturities 2013 the following table presents aggregate debt maturities as of december 31 , 2007 , excluding market value adjustments .millions of dollars .
[['2008', '$ 689'], ['2009', '542'], ['2010', '462'], ['2011', '550'], ['2012', '720'], ['thereafter', '4717'], ['total debt', '$ 7680']]
at december 31 , 2007 , we reclassified as long-term debt approximately $ 550 million of debt due within one year that we intend to refinance .this reclassification reflected our ability and intent to refinance any short- term borrowings and certain current maturities of long-term debt on a long-term basis .at december 31 , 2006 , we did not reclassify any short-term debt as long-term debt as we did not intend to refinance at that mortgaged properties 2013 equipment with a carrying value of approximately $ 2.8 billion at both december 31 , 2007 and 2006 serves as collateral for capital leases and other types of equipment obligations in accordance with the secured financing arrangements utilized to acquire such railroad equipment .as a result of the merger of missouri pacific railroad company ( mprr ) with and into uprr on january 1 , 1997 , and pursuant to the underlying indentures for the mprr mortgage bonds , uprr must maintain the same value of assets after the merger in order to comply with the security requirements of the mortgage bonds .as of the merger date , the value of the mprr assets that secured the mortgage bonds was approximately $ 6.0 billion .in accordance with the terms of the indentures , this collateral value must be maintained during the entire term of the mortgage bonds irrespective of the outstanding balance of such bonds .credit facilities 2013 on december 31 , 2007 , $ 1.9 billion of credit was available under our revolving credit facility ( the facility ) , which we entered into on april 20 , 2007 .the facility is designated for general corporate purposes and supports the issuance of commercial paper .we did not draw on the facility during 2007 .commitment fees and interest rates payable under the facility are similar to fees and rates available to comparably rated , investment-grade borrowers .the facility allows for borrowings at floating rates based on london interbank offered rates , plus a spread , depending upon our senior unsecured debt ratings .the facility requires the maintenance of a debt to net worth coverage ratio .at december 31 , 2007 , we were in compliance with this covenant .the facility does not include any other financial restrictions , credit rating triggers ( other than rating-dependent pricing ) , or any other provision that could require us to post collateral .the facility , which expires in april 2012 , replaced two $ 1 billion , 5-year facilities with terms ending in march 2009 and march 2010 .the facility includes terms that are comparable with those of the prior facilities , although the minimum net worth requirement of $ 7.5 billion in prior facilities was removed , and the facility includes a change-of-control provision .in addition to our revolving credit facility , a $ 75 million uncommitted line of credit was available .the line of credit expires in april 2008 , and was not used in 2007 .we must have equivalent credit available under our five-year facility to draw on this $ 75 million line .dividend restrictions 2013 our revolving credit facility includes a debt-to-net worth covenant that , under certain circumstances , would restrict the payment of cash dividends to our shareholders .the amount of retained earnings available for dividends was $ 11.5 billion and $ 7.8 billion at december 31 , 2007 and december 31 , 2006 , respectively .this facility replaced two credit facilities that had minimum net worth covenants that were more restrictive with respect to the amount of retained earnings available for dividends at december 31 , 2006. .

Question: what percentage of total debt is due after 2012?
Answer: 61%