Coca Cola 2007 Annual Report Download - page 90

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THE COCA-COLA COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 9: LONG-TERM DEBT
On November 1, 2007, the Company issued approximately $1,750 million of notes due on November 15, 2017.
The proceeds from this $1,750 million debt issuance were used to repay short-term debt, including commercial paper
issued to finance our current year acquisitions. Refer to Note 20.
Long-term debt consisted of the following (in millions):
December 31, 2007 2006
5
3
⁄
4
% U.S. dollar notes due 2009 $ 399 $ 399
5
3
⁄
4
% U.S. dollar notes due 2011 499 499
5
7
⁄
20
% U.S. dollar notes due 2017 1,747 —
7
3
⁄
8
% U.S. dollar notes due 2093 116 116
Other, due through 20141649 333
$ 3,410 $ 1,347
Less current portion 133 33
Long-term debt $ 3,277 $ 1,314
1The weighted-average interest rate on outstanding balances was 6.5% and 6.0%, respectively, for
the years ended December 31, 2007 and 2006.
The above notes include various restrictions, none of which is presently significant to our Company.
The principal amount of our long-term debt that had fixed and variable interest rates, respectively, was
approximately $3,409 million and $1 million at December 31, 2007. The principal amount of our long-term debt that
had fixed and variable interest rates, respectively, was approximately $1,346 million and $1 million at December 31,
2006. The weighted-average interest rate on the outstanding balances of our Company’s long-term debt was 5.8 percent
and 6.0 percent, respectively, for the years ended December 31, 2007 and 2006.
Total interest paid was approximately $405 million, $212 million and $233 million in 2007, 2006 and 2005,
respectively. For a more detailed discussion of interest rate management, refer to Note 12.
Maturities of long-term debt for the five years succeeding December 31, 2007 are as follows (in millions):
Maturities of
Long-Term Debt
2008 $ 133
2009 591
2010 58
2011 553
2012 196
88