Contractual Obligations
The following table provides a summary of our contractual obligations and commercial commitments at December 31, 2019. Additional detail about these items is included in the notes to the consolidated financial statements.
(1) Items included in long-term debt with variable coupon rates exclude unamortized debt issuance costs, and are described in Note 7 to the consolidated financial statements. (2) See Note 6 to the consolidated financial statements for additional information.
(3) Items included in purchase obligations are primarily commitments to purchase content and network services, equipment, software and marketing services, which will be used or sold in the ordinary course of business. These amounts do not represent our entire anticipated purchases in the future, but represent only those items that are the subject of contractual obligations. We also purchase products and services as needed with no firm commitment.
For this reason, the amounts presented in this table alone do not provide a reliable indicator of our expected future cash outflows or changes in our expected cash position. See Note 16 to the consolidated financial statements for additional information.
(4) Other long-term liabilities represent estimated postretirement benefit and qualified pension plan contributions. Estimated qualified pension plan contributions include expected minimum funding contributions, which commence in 2026 based on the plan’s current funded status. Estimated postretirement benefit payments include expected future postretirement benefit payments.
These estimated amounts: (1) are subject to change based on changes to assumptions and future plan performance, which could impact the timing or amounts of these payments; and (2) exclude expectations beyond 5 years due to uncertainty of the timing and amounts. See Note 11 to the consolidated financial statements for additional information.
(5) Represents future minimum payments under the sublease arrangement for our tower transaction. See Note 6 to the consolidated financial statements for additional information.
We are not able to make a reasonable estimate of when the unrecognized tax benefits balance of $2.9 billion and related interest and penalties will be settled with the respective taxing authorities until issues or examinations are further developed. See Note 12 to the consolidated financial statements for additional information.
Table:
 |  |  |  |  | (dollars in millions) Payments Due By Period
Contractual Obligations  | Total  | Less than 1 year | 1 to 3 years  | 3 to 5 years  | More than 5 years
Long-term debt(1) | $110,865 | $ 10,470 | $ 16,431 | $ 9,803 | $ 74,161
Finance lease obligations(2)  | 1,213 | 366 | 479 | 244 | 124
Total long-term debt, including current maturities  | 112,078 | 10,836 | 16,910 | 10,047 | 74,285
Interest on long-term debt(1)  | 62,450 | 4,578 | 8,383 | 7,426 | 42,063
Operating leases(2) | 25,968 | 4,099 | 7,127 | 5,485 | 9,257
Purchase obligations(3)  | 18,769 | 8,384 | 7,448 | 1,441 | 1,496
Other long-term liabilities(4)  | 4,135 | 694 | 1,692 | 1,749 | —
Finance obligations(5)  | 1,539 | 281 | 579 | 603 | 76
Total contractual obligations   | $ 224,939 | $ 28,872 | $ 42,139 | $ 26,751 | $ 127,177


Question: What is the average finance lease obligation for each payment period?
Answer: 303.25
Calculation: (366 + 479 + 244 + 124) / 4