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NOTE10.Long-TermDebtandShort-TermBorrowings
Thefollowingdebttablesreflecteffectiveinterestrates,whichincludetheimpactofinterestrateswaps,asofDecember31,2015.If
thedebtwasissuedonacombinedbasis,thedebthasbeenseparatedtoshowtheimpactofthefixedversusfloatingeffectiveinterest
rates.Carryingvalueincludestheimpactofdebtissuancecostsandfairvaluehedgingactivity.Long-termdebtandshort-term
borrowingsasofDecember31consistedofthefollowing:
Long-TermDebt
Currency/ Effective Final
(Millions) Fixedvs. Interest Maturity CarryingValue
Description/2015PrincipalAmount Floating Rate Date 2015 2014
Medium-termnote($1billion) USDFixed 1.62 % 2016 $ 999 $ 996
Medium-termnote($650million) USDFixed 1.10 % 2017 648 647
Medium-termnote(500millionEuros) EuroFloating 0.16 % 2018 545 606
Medium-termnote($450million) USDFloating 0.44 % 2018 448 —
Medium-termnote($600million) USDFloating 0.55 % 2019 597 592
Medium-termnote($25million) USDFixed 1.74 % 2019 25 25
Medium-termnote(650millionEuros) EuroFloating 0.15 % 2020 708 —
Medium-termnote($300million) USDFloating 0.61 % 2020 297 —
Medium-termnote($200million) USDFixed 2.12 % 2020 198 —
Eurobond(300millionEuros) EuroFloating 0.21 % 2021 348 389
Eurobond(300millionEuros) EuroFixed 1.97 % 2021 326 361
Medium-termnote($600million) USDFixed 2.17 % 2022 592 591
Medium-termnote(600millionEuros) EuroFixed 1.14 % 2023 644 —
Medium-termnote($550million) USDFixed 3.04 % 2025 545 —
Medium-termnote(750millionEuros) EuroFixed 1.71 % 2026 801 892
30-yeardebenture($330million) USDFixed 6.01 % 2028 343 344
Medium-termnote(500millionEuros) EuroFixed 1.90 % 2030 533 —
30-yearbond($750million) USDFixed 5.73 % 2037 743 742
Floatingratenote($96million) USDFloating 0.22 % 2041 96 96
Medium-termnote($325million) USDFixed 4.05 % 2044 313 312
Floatingratenote($55million) USDFloating 0.16 % 2044 55 55
Otherborrowings Various 0.22 % 2016-2040 74 112
Totallong-termdebt $ 9,878 $ 6,760
Less:currentportionoflong-termdebt 1,125 55
Long-termdebt(excludingcurrentportion) $ 8,753 $ 6,705
Post-SwapBorrowing(Long-TermDebt,IncludingCurrentPortion)
2015 2014
Carrying Effective Carrying Effective
(Millions) Value InterestRate Value InterestRate
Fixed-ratedebt $ 6,712 2.54 % $ 4,911 2.74 %
Floating-ratedebt 3,166 0.32 % 1,849 0.53 %
Totallong-termdebt,includingcurrentportion $ 9,878 $ 6,760
Short-TermBorrowingsandCurrentPortionofLong-TermDebt
Effective CarryingValue
(Millions) InterestRate 2015 2014
Currentportionoflong-termdebt 1.45 %$ 1,125 $ 55
U.S.dollarcommercialpaper — % — —
Otherborrowings 1.01 % 919 51
Totalshort-termborrowingsandcurrentportionoflong-termdebt $ 2,044 $ 106
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