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Long-Term Debt | 12 Months Ended
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Dec. 31, 2013
Long-Term Debt | Note 9: Long-Term Debt
Long-Term Debt Outstanding
December 31 (in millions) | Weighted-Average Interest Rate as of December 31, 2013 |  | 2013 |  | 2012
Commercial paper | 0.295 | % | $ | 1,350 | $ | -
Revolving bank credit facilities | 1.166 | % |  | 1,250 |  | -
Senior notes with maturities of 5 years or less | 4.718 | % |  | 15,080 |  | 12,991
Senior notes with maturities between 6 and 10 years | 4.558 | % |  | 11,533 |  | 10,334
Senior notes with maturities greater than 10 years(a) | 5.971 | % |  | 18,010 |  | 16,801
Other, including capital lease obligations | — |  |  | 624 |  | 332
Total debt | 4.80 | %(b) |  | 47,847 |  | 40,458
Less: Current portion |  |  |  | 3,280 |  | 2,376
Long-term debt |  |  | $ | 44,567 | $ | 38,082
(a) Both the December 31, 2013 and 2012 amounts include £625 million of 5.50% notes due 2029 translated at $1 billion, using the exchange rates as of these dates.
(b) Includes the effects of our derivative financial instruments.
As of December 31, 2013 and 2012, our debt had an estimated fair value of $51.8 billion and $47.7 billion, respectively. The estimated fair value of our publicly traded debt is based on quoted market values for the debt. To estimate the fair value of debt for which there are no quoted market prices, we use interest rates available to us for debt with similar terms and remaining maturities. See Note 21 for additional information on our subsidiary guarantee structures.
Debt Maturities
(in millions) | Weighted-Average Interest Rate |  |  |  |
2014 | 2.343 | % |  | $ | 3,280
2015 | 5.899 | % |  | $ | 3,420
2016 | 4.265 | % |  | $ | 3,501
2017 | 6.977 | % |  | $ | 2,557
2018 | 4.510 | % |  | $ | 5,394
Thereafter | 5.451 | % |  | $ | 29,695
2013 Debt Borrowings |  |
Year ended December 31, 2013 (in millions) |  |
Comcast 4.250% senior notes due 2033 | $ | 1,700
Comcast 2.850% senior notes due 2023 |  | 750
Comcast 4.500% senior notes due 2043 |  | 500
Total | $ | 2,950
2013 Debt Repayments and Redemptions |  |
Year ended December 31, 2013 (in millions) |  |
Comcast 8.375% senior notes due 2013 | $ | 1,714
Comcast 7.125% senior notes due 2013 |  | 383
Comcast 7.875% senior notes due 2013 |  | 238
Other |  | 109
Total | $ | 2,444
Redemption Transaction The Redemption Transaction resulted in the consolidation of an additional $4 billion aggregate principal amount of senior notes issued by NBCUniversal Enterprise and $1.25 billion of borrowings under the NBCUniversal Enterprise credit facility. The total consideration for the Redemption Transaction also included $750 million of cash funded through our commercial paper program. The NBCUniversal Enterprise senior notes are comprised of $1.1 billion aggregate principal amount of 1.662% senior notes due 2018, $1.5 billion aggregate principal amount of 1.974% senior notes due 2019, $700 million aggregate principal amount of floating rate senior notes due 2016 and $700 million aggregate principal amount of floating rate senior notes due 2018. The floating rate senior notes due 2016 and 2018 will accrue interest for each quarterly interest period at a rate equal to three-month London Interbank Offered Rate (“LIBOR”) plus 0.537% and 0.685%, respectively. On March 19, 2013, NBCUniversal Enterprise amended and restated the existing credit agreement of NBCUniversal to, among other things, substitute NBCUniversal Enterprise for NBCUniversal as the sole borrower, reduce the borrowing capacity of the facility from $1.5 billion to $1.35 billion, extend the term of the facility to March 2018 and revise the interest rate on borrowings. The interest rate on the credit facility consists of a base rate plus a borrowing margin that is determined based on our credit rating. Following the amendments to this credit agreement, NBCUniversal's commercial paper program was terminated. As of December 31, 2013, $1.25 billion was outstanding under this credit facility. Debt Instruments Revolving Credit Facilities As of December 31, 2013, Comcast Corporation and Comcast Cable Communications, LLC had a $6.25 billion revolving credit facility due June 2017 with a syndicate of banks. The interest rate on this facility consists of a base rate plus a borrowing margin that is determined based on our credit rating. As of December 31, 2013, the borrowing margin for LIBOR-based borrowings was 1.00%. This revolving credit facility requires that we maintain certain financial ratios based on our debt and our operating income before depreciation and amortization, as defined in the credit facility. We were in compliance with all financial covenants for all periods presented. As of December 31, 2013, amounts available under our consolidated credit facilit ies, net of amounts outstanding under our commercial paper program and outstanding letters of credit, totaled $4.7 billion, which included $100 million available under NBCUniversal Enterprise's credit facility. Commercial Paper Program Our commercial paper program provides a lower cost source of borrowing to fund our short-term working capital requirements and is supported by our $6.25 billion revolving credit facility due June 2017. In September 2013, we increased the borrowing capacity of our commercial paper program from $2.25 billion to $6.25 billion. Letters of Credit As of December 31, 2013, we and certain of our subsidiaries had unused irrevocable standby letters of credit totaling $515 million to cover potential fundings under various agreements.
NBCUniversal Media, LLC [Member] |
Long-Term Debt | Note 9: Long-Term Debt
Long-Term Debt Outstanding |  |  |  |  |  |
| Weighted-Average Interest Rate as of December 31, 2013 | Successor
December 31 (in millions) |  | 2013 |  | 2012
Senior notes with maturities of 5 years or less | 2.884 | % |  | 2,917 |  | 2,933
Senior notes with maturities between 6 and 10 years | 4.388 | % |  | 4,996 |  | 3,999
Senior notes with maturities greater than 10 years | 5.614 | % |  | 3,205 |  | 4,203
Other, including capital lease obligations | — |  |  | 47 |  | 106
Total debt | 4.22 | %(a) |  | 11,165 |  | 11,241
Less: Current portion |  |  |  | 906 |  | 10
Long-term debt |  |  | $ | 10,259 |  | 11,231
(a) Includes the effects of our derivative financial instruments.
As of December 31, 2013 and 2012, our debt had an estimated fair value of $11.7 billion and $12.6 billion, respectively. The estimated fair value of our publicly traded debt is based on quoted market values for the debt. To estimate the fair value of debt for which there are no quoted market prices, we use interest rates available to us for debt with similar terms and remaining maturities.
Debt Maturities
(in millions) | Weighted-Average Interest Rate |  |  |  |
2014 | 2.121 | % |  | $ | 906
2015 | 3.597 | % |  | $ | 1,032
2016 | 2.876 | % |  | $ | 1,008
2017 | 6.287 | % |  | $ | 2
2018 | 6.299 | % |  | $ | 2
Thereafter | 4.871 | % |  | $ | 8,215
Debt Instruments Revolving Credit Facility In connection with the Redemption Transaction, on March 19, 2013, NBCUniversal Enterprise amended and restated our existing credit agreement to, among other things, substitute NBCUniversal Enterprise for us as the sole borrower to the revolving credit facility. As a result, we no longer have a revolving credit facility with third-party banks. Following the amendments to our credit agreement, our commercial paper program was terminated and we entered into a revolving credit agreement with Comcast. See Note 4 for additional information on the revolving credit agreement with Comcast. Cross-Guarantee Structure On March 27, 2013, we, Comcast and four of Comcast's wholly owned cable holding company subsidiaries (the “cable guarantors”) entered into a series of agreements and supplemental indentures to include us as a part of Comcast's existing cross-guarantee structure. As members of the cross-guarantee structure, Comcast and the cable guarantors fully and unconditionally guarantee our public debt securities, and we fully and unconditionally guarantee all of Comcast's and the cable guarantors' public debt securities. As of December 31, 2013, we guaranteed $31 billion of outstanding debt securities of Comcast and the cable guarantors. We also fully and unconditionally guarantee the $6.25 billion Comcast revolving credit facility due 2017, of which no amounts were outstanding as of December 31, 2013. We do not, however, guarantee the obligations of NBCUniversal Enterprise with respect to its $4 billion aggregate principal amount of senior notes, $1.35 billion revolving credit facility or $725 million liquidation preference of Series A cumulative preferred stock.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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