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The following table provides a summary of the Company’s term debt as of September 26, 2015 and September 27, 2014:
2015 2014
Maturities Amount
(in millions) Effective
Interest Rate Amount
(in millions) Effective
Interest Rate
2013 debt issuance of $17.0 billion:
Floating-rate notes 2016 – 2018 $ 3,000 0.51% – 1.10% $ 3,000 0.51% – 1.10%
Fixed-rate 0.45% – 3.85% notes 2016 – 2043 14,000 0.51% – 3.91% 14,000 0.51% – 3.91%
2014 debt issuance of $12.0 billion:
Floating-rate notes 2017 – 2019 2,000 0.37% – 0.60% 2,000 0.31% – 0.54%
Fixed-rate 1.05% – 4.45% notes 2017 – 2044 10,000 0.37% – 4.48% 10,000 0.30% – 4.48%
First quarter 2015 euro-denominated debt issuance of €2.8 billion:
Fixed-rate 1.000% notes 2022 1,558 2.94% 0 0
Fixed-rate 1.625% notes 2026 1,558 3.45% 0 0
Second quarter 2015 debt issuance of $6.5 billion:
Floating-rate notes 2020 500 0.56% 0 0
Fixed-rate 1.55% notes 2020 1,250 0.56% 0 0
Fixed-rate 2.15% notes 2022 1,250 0.87% 0 0
Fixed-rate 2.50% notes 2025 1,500 2.60% 0 0
Fixed-rate 3.45% notes 2045 2,000 3.58% 0 0
Second quarter 2015 Swiss franc-denominated debt issuance of
SFr1.25 billion:
Fixed-rate 0.375% notes 2024 895 0.28% 0 0
Fixed-rate 0.750% notes 2030 384 0.74% 0 0
Third quarter 2015 debt issuance of $8.0 billion:
Floating-rate notes 2017 250 0.36% 0 0
Floating-rate notes 2020 500 0.61% 0 0
Fixed-rate 0.900% notes 2017 750 0.35% 0 0
Fixed-rate 2.000% notes 2020 1,250 0.61% 0 0
Fixed-rate 2.700% notes 2022 1,250 0.99% 0 0
Fixed-rate 3.200% notes 2025 2,000 1.22% 0 0
Fixed-rate 4.375% notes 2045 2,000 4.40% 0 0
Third quarter 2015 Japanese yen-denominated debt issuance of ¥250.0
billion:
Fixed-rate 0.35% notes 2020 2,081 0.35% 0 0
Fourth quarter 2015 British pound-denominated debt issuance of £1.25
billion:
Fixed-rate 3.05% notes 2029 1,148 3.79% 0 0
Fixed-rate 3.60% notes 2042 766 4.51% 0 0
Fourth quarter 2015 Australian dollar-denominated debt issuance of
A$2.25 billion:
Floating-rate notes 2019 493 1.87% 0 0
Fixed-rate 2.85% notes 2019 282 1.89% 0 0
Fixed-rate 3.70% notes 2022 810 2.79% 0 0
Fourth quarter 2015 euro-denominated debt issuance of €2.0 billion:
Fixed-rate 1.375% notes 2024 1,113 3.30% 0 0
Fixed-rate 2.000% notes 2027 1,113 3.85% 0 0
Total term debt 55,701 29,000
Unamortized discount (114) (52)
Hedge accounting fair value adjustments 376 39
Less: Current portion of long-term debt (2,500) 0
Total long-term debt $ 53,463 $ 28,987
To manage foreign currency risk associated with the euro-denominated notes issued in the first quarter of 2015 and the British pound-
denominated, Australian dollar-denominated and euro-denominated notes issued in the fourth quarter of 2015, the Company entered into
currency swaps with an aggregate notional amount of $3.5 billion, $1.9 billion, $1.6 billion and $2.2 billion, respectively, which effectively
converted these notes to U.S. dollar-denominated notes.
Apple Inc. | 2015 Form 10-K | 58