Walmart 1999 Annual Report Download - page 21

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Interest Rate Sensitivity
As of January 31, 1999
Principal (Notional) Amount by Expected Maturity
Average Interest (Swap) Rate
Fair value
(Amounts in millions) 2000 2001 2002 2003 2004 Thereafter Total 1/31/99
Liabilities
Long-term debt including current portion
Fixed rate debt $ 900 $1,284 $801 $558 $285 $3,980 $7,808 $8,323
Average interest rate – U.S.$ rate 7.1% 7.2% 7.1% 6.9% 7.0% 7.2% 7.2%
Long-term obligation related to
real estate investment trust
Fixed rate obligation 39 43 46 50 55 327 560 641
Fixed interest rate – U.S.$ rate 8.4% 8.4% 8.4% 8.4% 8.4% 8.4% 8.4%
Interest Rate Derivative Financial Instruments
Related to Debt
Interest rate swap
Pay variable/receive fixed – 500 – – – – 500 10
Average rate paid – 30-day U.S. commercial
paper non-financial plus .134%
Fixed rate received – U.S.$ rate – 5.7% – – – – 5.7%
Interest rate swap
Pay variable/receive fixed – 500 – – – – 500 5
Average rate paid – 30-day U.S. commercial
paper non-financial plus .245%
Fixed rate received – U.S.$ rate – 5.9% – – – – 5.9%
Interest Rate Derivative Financial Instruments
Related to Real Estate Investment Trust Obligation
Interest rate swap
Pay variable/receive fixed 38 41 45 49 54 324 551 44
Average rate paid – 30-day U.S. commercial
paper non-financial
Fixed rate received – U.S.$ rate 7.0% 7.0% 7.0% 7.0% 7.0% 7.0% 7.0%
Interest rate swap
Pay variable/receive fixed – – – – – 230 230 30
Average rate paid – 6-month U.S. LIBOR
Fixed rate received – U.S.$ rate – – – – – 7.0% 7.0%
Interest Rate Derivative Financial Instrument
Related to Currency Swaps
Currency swap – German Deutschemarks
Pay variable/receive variable – – – 1,101 – – 1,101 (43)
Average rate paid – 3-month German
Deutschemark LIBOR minus .0676%
Average rate received – 30-day U.S. commercial
paper non-financial
Interest rate swap – German Deutschemarks
Pay fixed/receive variable – – – 1,101 – – 1,101 (58)
Fixed rate paid – German Deutschemark rate – – – 4.5% – – 4.5%
Average rate received – 3-month German
Deutschemark LIBOR minus .0676%
Interest rate swap – U.S. Dollars
Pay variable/receive fixed – – – 1,101 – – 1,101 28
Average rate paid – 30-day U.S. commercial
paper non-financial
Fixed rate received – U.S.$ rate – – – 5.8% – – 5.8%
Currency swap – German Deutschemarks
Pay variable/receive variable – – – – 809 – 809 18
Average rate paid – 3-month German
Deutschemark LIBOR minus .055%
Average rate received – 30-day U.S. commercial
paper non-financial
Interest rate swap – German Deutschemarks
Pay fixed/receive variable – – – – 809 – 809 3
Fixed rate paid – German Deutschemark rate – – – – 3.4% – 3.4%
Average rate received – 3-month German
Deutschemark LIBOR minus .055%
Interest rate swap – U.S. Dollars
Pay variable/receive fixed – – – – 809 – 809 1
Average rate paid – 30-day U.S. commercial
paper non-financial
Fixed rate received – U.S.$ rate – – – – 5.2% – 5.2%
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