American Express 2001 Annual Report Download - page 62

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
LONG-TERM DEBT
December 31, (Dollars in millions) 2001 2000
Year-End Year-End
Year-End Effective Year-End Effective
Notional Stated Interest Notional Stated Interest
Outstanding Amount of Rate on Rate with Maturity of Outstanding Amount of Rate on Rate with Maturity of
Balance Swaps Debt(a,b) Swaps(a,b) Swaps Balance Swaps Debt(a,b) Swaps(a,b) Swaps
Notes due September 12, 2006 $ 1,000 — 5.50% ———————
Notes due November 1, 2005 500 — 6.875% —— $ 496 — 6.875% ——
Notes due September 15, 2004 300 — 7.85% ———————
Notes due June 23, 2004 497 — 6.75% —— 500 — 6.75% ——
Notes due January 22, 2004 498 — 5.625% —— 498 — 5.625% ——
Notes due May 15, 2003 1,000 — 5.90% ———————
Notes due August 12, 2002 411 $ 411 6.50% 6.43% 2002 400 $ 400 6.50% 6.83% 2002
Notes due November 15, 2001 ————— 300 — 6.125% ——
Notes due August 15, 2001 ————— 300 — 8.50% ——
Floating Rate Notes due
September 15, 2003 950 — 1.881% ———————
Floating Rate Notes due
September 15, 2003 750 — 1.881% ———————
Floating Rate Notes due
May 1, 2002 400 400 1.881% 1.881% 2002 400 400 6.81% 6.90% 2002
Floating Rate Notes due
December 31, 2001
————— 300 — 6.66% ——
Other Fixed Senior Notes due 2005 – 2001–
2001– 2022 256 133 7.95% 7.70% 2012 538 410 7.35% 7.68% 2012
Other Floating Senior Notes due
2001– 2002 115
— 1.87% —— 505 — 6.57% ——
Other Fixed Rate Notes due 2003–
2001– 2006 149 — 6.53% —— 207 36 5.42% 5.53% 2004
Other Floating Rate Notes due 2003– 2001–
2001– 2006 748 181 3.28% 3.17% 2004 267 165 7.56% 7.55% 2004
Subordinated Fixed Rate Notes
due 2003 – 2004 153
— 6.90% ———————
Subordinated Floating Rate
Notes due 2003 61 — 1.88% ———————
Total $ 7,788 $ 1,125 4.73% $ 4,711 $ 1,411 6.73%
(a)For floating rate debt issuances, the stated and effective interest rates were based on the respective rates at December 31, 2001 and 2000; these rates are not an indication of future
interest rates.
(b)Weighted average rates were determined where appropriate.
Certain of the above interest rate swaps require the company to pay a floating rate, with a predominant index of LIBOR (London
Interbank Offered Rate).
The company paid interest (net of amounts capitalized) of $2.8 billion, $3.6 billion and $2.6 billion in 2001, 2000 and 1999,
respectively.
Aggregate annual maturities of long-term debt for the five years ending December 31, 2006 are as follows (millions): 2002, $1,194;
2003, $3,158; 2004, $1,534; 2005, $609; and 2006, $1,146.