Walmart 2004 Annual Report Download - page 29

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Interest Rate Position as of January 31, 2004
Principal Amount by Expected Maturity
Average Interest Rate Fair value
(Dollar amounts in millions) 2005 2006 2007 2008 2009 Thereafter Total 1/31/04
Liabilities
U.S. dollar (“USD”) denominated
long-term debt including
current portion
Fixed-rate debt $ 2,904 $ 1,313 $ 2,293 $ 1,572 $ 1,037 $ 7,067 $ 16,186 $ 17,511
Average interest rate 5.9% 6.2% 5.9% 6.0% 6.2% 6.8% 6.4%
Variable-rate debt $ 500 $ 1,500 – – – – $ 2,000 $ 2,000
Interest rate – Rate A minus 0.03%
Great Britain pound (“GBP”) denominated
long-term debt including
current portion
Fixed-rate debt – – – – – $ 1,820 $ 1,820 $ 1,838
Average interest rate – – – – – 5.6% 5.6%
Interest Rate Position as of January 31, 2004
Notional Amount by Expected Maturity
Average Interest Swap Rate
Fair value
(Dollar amounts in millions) 2005 2006 2007 2008 2009 Thereafter Total 1/31/04
Interest Rate Derivative Financial
Instruments Related to Debt
Interest rate swaps –
Pay variable/receive fixed $ 1,250 $ – $ – $ – $ – $ 3,250 $ 4,500 $ 388
Weighted-average rate paid –
Rate B plus 1.70%
Weighted-average fixed rate received 6.6% – – – – 6.9% 6.8%
Interest rate swaps –
Pay variable/receive fixed $ 500 $ 1,097 $ 1,750 – – $ 445 $ 3,792 $ 309
Weighted-average rate paid –
Rate A plus 0.84%
Weighted-average fixed rate received 7.5% 5.1% 5.8% – – 7.3% 6.0%
Interest rate swap –
Pay fixed/receive variable – $ 1,500 – – – – $ 1,500 ($ 16)
Weighted-average rate paid – 1.9% – – – – 1.9%
Weighted-average fixed rate
received – Rate A minus 0.04%
Rate A – three-month U.S. LIBOR
Rate B – six-month U.S. LIBOR
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