Quarterly report pursuant to Section 13 or 15(d)

DEBT

v2.4.0.8
DEBT
6 Months Ended
Jun. 30, 2013
DEBT  
DEBT

NOTE 10.  DEBT

 

A summary of long-term debt was as follows:

 

 

 

June 30,

 

December 31,

 

In millions

 

2013

 

2012

 

Long-term debt

 

 

 

 

 

Export financing loan, 4.5%, due 2013

 

 

23

 

Debentures, 6.75%, due 2027

 

58

 

58

 

Debentures, 7.125%, due 2028

 

250

 

250

 

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

 

165

 

165

 

Credit facilities related to consolidated joint ventures

 

125

 

88

 

Other

 

75

 

69

 

 

 

673

 

653

 

Unamortized discount

 

(35

)

(35

)

Fair value adjustments due to hedge on indebtedness

 

60

 

88

 

Capital leases

 

99

 

53

 

Total long-term debt

 

797

 

759

 

Less: Current maturities of long-term debt

 

(43

)

(61

)

Long-term debt

 

$

754

 

$

698

 

 

Principal payments required on long-term debt during the next five years are the following:

 

 

 

Required Principal Payments

 

In millions

 

2013

 

2014

 

2015

 

2016

 

2017

 

Payment

 

$

23

 

$

46

 

$

76

 

$

82

 

$

14