Walmart 2002 Annual Report Download - page 23

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21
Interest Rate Sensitivity as of January 31, 2002
Principal (Notional) Amount by Expected Maturity
Average Interest (Swap) Rate
Fair value
(Amounts in millions) 2003 2004 2005 2006 2007 Thereafter Total 1/31/02
Interest Rate Derivative Financial
Instruments Related to Debt
Interest rate swap – Pay variable/receive fixed $ 500 – – – – – $ 500 $ 28
Average rate paid – Rate A minus 0.15%
Fixed rate received – USD rate 6.9% – – – – – 6.9%
Interest rate swap – Pay variable/receive fixed – – $ 500 – – – 500 17
Average rate paid – Rate B plus 2.35%
Fixed rate received – USD rate – – 7.5% – – – 7.5%
Interest rate swap – Pay variable/receive fixed – – – $ 597 – – 597 29
Average rate paid – Rate B plus 0.32%
Fixed rate received – USD rate – – – 5.9% – – 5.9%
Interest rate swap – Pay variable/receive fixed – – – – $ 250 – 250 14
Average rate paid – Rate B plus 2.27%
Fixed rate received – USD rate – – – – 8.0% – 8.0%
Interest rate swap – Pay variable/receive fixed – – – – – $ 445 445 18
Average rate paid – Rate B plus 1.01%
Fixed rate received – USD rate – – – – – 7.3% 7.3%
Interest rate swap – Pay variable/receive fixed – – – – 1,500 – 1,500 66
Average rate paid – Rate B plus 0.63%
Fixed rate received – USD rate – – – – 5.5% – 5.5%
Interest rate basis swap – – – – – 500 500 1
Average rate paid – Rate C
Average rate received – Rate A minus 0.06%
Rate A – one-month U.S. LIBOR
Rate B – three-month U.S. LIBOR
Rate C – U.S. commercial paper
Interest Rate Sensitivity as of January 31, 2001
Principal (Notional) Amount by Expected Maturity
Average Interest (Swap) Rate
Fair value
(Amounts in millions) 2002 2003 2004 2005 2006 Thereafter Total 1/31/01
Liabilities
U.S. dollar denominated long-term debt
including current portion
Fixed rate debt $ 4,223 $ 1,126 $ 809 $ 1,926 $ 750 $ 6,229 $ 15,063 $ 15,596
Average interest rate – USD rate 6.8% 6.8% 6.9% 6.9% 6.9% 6.9% 6.9%
Great Britain pound denominated Long-term
debt including current portion
Fixed rate debt 11 236 – – – 1,425 1,672 1,670
Average interest rate 8.4% 8.4% 7.2% 7.2%
Interest Rate Derivative Financial
Instruments Related to Debt
Interest rate swap – Pay variable/receive fixed 500 – – – – 500 28
Average rate paid – Rate A
Fixed rate received – USD rate 6.9% – – – – 6.9%
Interest rate swap – Pay variable/receive fixed 59 63 68 72 78 41 381 17
Average rate paid – Rate B
Fixed rate received – USD rate 7.0% 7.0% 7.0% 7.0% 7.0% 7.0% 7.0%
Interest rate basis swap 500 500 0
Average rate paid – Rate C
Average rate received – Rate A minus 0.06%
Rate A – one-month U.S. LIBOR minus 0.15%
Rate B – 30-day U.S. dollar commercial paper non-financial
Rate C – U.S. commercial paper