Walmart 2012 Annual Report Download - page 46
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The Company’s long-term debt consists of the following:
January 31, 2012 January 31, 2011
Maturity Dates Average Average
(In millions of U.S. dollars) By Fiscal Year Amount Rate
(1)
Amount Rate
(1)
Unsecured Debt
Fixed 2013–2042 $32,945 4.6% $29,945 4.7%
Variable 2013 500 5.2% 500 5.0%
Total Denominated U.S. Dollar 33,445 30,445
Fixed 2030 1,308 4.9% 1,369 4.9%
Variable — — — —
Total Denominated Euro 1,308 1,369
Fixed 2013–2039 6,301 5.3% 6,402 5.2%
Variable — — — —
Total Denominated Sterling 6,301 6,402
Fixed 2014–2021 2,335 1.4% 3,085 1.5%
Variable 2014–2016 1,271 0.8% 2,242 1.1%
Total Denominated Yen 3,606 5,327
Total Unsecured Debt 44,660 43,543
Total Other Debt (in USD)
(2)
2013–2030 1,202 1,537
Total Debt 45,862 45,080
Less amounts due within one year (1,975) (4,655)
Derivative fair value adjustments 183 267
Long-term Debt $44,070 $40,692
(1) The average rate represents the weighted-average stated rate for each corresponding debt category, based on year-end balances and year-end local currency interest rates.
Interest costs are also impacted by certain derivative nancial instruments described in Note 9.
(2) A portion of other debt includes secured debt in the amount of $319 million, which is collateralized by property with an aggregate carrying amount of approximately
$866 million.
Notes to Consolidated Financial Statements
The Company has $500 million in debt with embedded put options.
The issuance of money market puttable reset securities in the amount of
$500 million is structured to be remarketed in connection with the
annual reset of the interest rate. If, for any reason, the remarketing of the
notes does not occur at the time of any interest rate reset, the holders of
the notes must sell, and the Company must repurchase, the notes at
par. This issuance has been classifi ed as long-term debt due within one
year in the Company’s Consolidated Balance Sheets. Annual maturities of
long-term debt during the next fi ve years and thereafter are as follows:
(Amounts in millions) Annual
Fiscal Year Maturity
2013 $ 1,975
2014 5,168
2015 3,927
2016 4,750
2017 1,130
Thereafter 28,912
Total $45,862
Debt Issuances
Information on signifi cant long-term debt issued during fi scal 2012 is as
follows (amounts in millions):
Issue Date Maturity Date Interest Rate Principal Amount
April 18, 2011 April 15, 2014 1.625% $1,000
April 18, 2011 April 15, 2016 2.800% 1,000
April 18, 2011 April 15, 2021 4.250% 1,000
April 18, 2011 April 15, 2041 5.625% 2,000
Total $5,000
The aggregate net proceeds from these note issuances were approximately
$4.9 billion. The notes of each series require semi-annual interest payments
on April 15 and October 15 of each year, with the fi rst interest payment
having commenced on October 15, 2011. Unless previously purchased
and canceled, the Company will repay the notes of each series at 100%
of the principal amount, together with accrued and unpaid interest
thereon, at maturity. The notes of each series are senior, unsecured
obligations of the Company.