Walmart 2014 Annual Report Download - page 50

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The Company’s long-term debt, which includes the fair value instruments further discussed in Note 8, consists of the following:
January 31, 2014 January 31, 2013
Maturity Dates Average Average
(Amounts in millions) By Fiscal Year Amount Rate
(1)
Amount Rate
(1)
Unsecured debt
Fixed 2015-2044 $35,500 4.3% $32,476 4.6%
Variable 2015 500 5.4% 500 5.5%
Total U.S. dollar denominated 36,000 32,976
Fixed 2030 1,356 4.9% 1,358 4.9%
Variable — —
Total Euro denominated 1,356 1,358
Fixed 2031-2039 5,770 5.3% 5,550 5.3%
Variable — —
Total Sterling denominated 5,770 5,550
Fixed 2015-2021 1,490 1.3% 1,942 1.4%
Variable 2015-2016 457 0.7% 1,056 0.7%
Total Yen denominated 1,947 2,998
Total unsecured debt 45,073 42,882
Total other debt (in USD)
(2)
2015-2044 801 1,099
Total debt 45,874 43,981
Less amounts due within one year (4,103) (5,587)
Long-term debt $41,771 $38,394
(1) The average rate represents the weighted-average stated rate for each corresponding debt category, based on year-end balances and year-end interest rates. Interest costs are
also impacted by certain derivative financial instruments described in Note 8.
(2) A portion of other debt at January 31, 2014 and 2013 includes secured debt in the amount of $572 million and $627 million, respectively, which was collateralized by property
that had an aggregate carrying amount of approximately $471 million and $599 million, respectively.
At January 31, 2014 and 2013, the Company had $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. Accordingly, this issuance has been classi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
ve years and thereafter are as follows:
(Amounts in millions) Annual
Fiscal Year Maturity
2015 $ 4,103
2016 4,480
2017 2,396
2018 1,107
2019 3,531
Thereafter 30,257
Total $45,874
Debt Issuances
Information on signicant long-term debt issued during scal 2014,
is as follows:
Maturity Interest Principal
Issue Date Date Rate Amount
April 11, 2013 April 11, 2016 0.600% $1,000
April 11, 2013 April 11, 2018 1.125% 1,250
April 11, 2013 April 11, 2023 2.550% 1,750
April 11, 2013 April 11, 2043 4.000% 1,000
October 2, 2013 December 15, 2018 1.950% 1,000
October 2, 2013 October 2, 2043 4.750% 750
Total $6,750
The aggregate net proceeds from these long-term debt issuances were
approximately $6.7 billion, which were used to pay down and renance
existing debt and for other general corporate purposes. The Company
also received additional aggregate net proceeds of approximately
$0.4 billion from other, smaller long-term debt issuances by several
of its international operations, which were used primarily to renance
existing debt.
48 Walmart 2014 Annual Report
Notes to Consolidated Financial Statements