Quarterly report pursuant to Section 13 or 15(d)

DEBT (Tables)

v2.4.0.8
DEBT (Tables)
 9 Months Ended
Sep. 29, 2013
Debt Disclosure [Abstract]  
Summary of long-term debt
A summary of long-term debt was as follows:
 
In millions
 
September 29,
2013
 
December 31,
2012
Long-term debt
 
 

 
 

Export financing loan, 4.5%, due 2013
 
$
—

 
$
23

Senior notes, 3.65%, due 2023
 
500

 
—

Debentures, 6.75%, due 2027
 
58

 
58

Debentures, 7.125%, due 2028 (1)
 
250

 
250

Senior notes, 4.875%, due 2043
 
500

 
—

Debentures, 5.65%, due 2098 (effective interest rate 7.48%)
 
165

 
165

Credit facilities related to consolidated joint ventures
 
129

 
88

Other
 
73

 
69

 
 
1,675

 
653

Unamortized discount
 
(48
)
 
(35
)
Fair value adjustments due to hedge on indebtedness
 
54

 
88

Capital leases
 
97

 
53

Total long-term debt
 
1,778

 
759

Less: Current maturities of long-term debt
 
(47
)
 
(61
)
Long-term debt
 
$
1,731

 
$
698

___________________________________________________
(1) In November 2005, we entered into an interest rate swap to effectively convert our $250 million debt issue, due in 2028, from a fixed rate of 7.125 percent to a floating rate based on a LIBOR spread (see Note 13).
Principal repayments on long-term debt
Principal payments required on long-term debt during the next five years are as follows:
 
 
 
Required Principal Payments
In millions
 
2013
 
2014
 
2015
 
2016
 
2017
Payment
 
$
16

 
$
45

 
$
85

 
$
63

 
$
14