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Long-Term Debt | 12 Months Ended
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Dec. 31, 2014
Long-Term Debt | Note 10: Long-Term Debt
Long-Term Debt Outstanding
December 31 (in millions) | Weighted-Average Interest Rate as of December 31, 2014 |  | 2014 |  | 2013
Commercial paper | 0.373 | % | $ | 845 | $ | 1,350
Revolving bank credit facilities | — | % |  | - |  | 1,250
Senior notes with maturities of 5 years or less | 4.642 | % |  | 15,334 |  | 15,080
Senior notes with maturities between 5 and 10 years | 4.822 | % |  | 10,527 |  | 11,533
Senior notes with maturities greater than 10 years(a) | 5.737 | % |  | 20,937 |  | 18,010
Other, including capital lease obligations | — |  |  | 591 |  | 624
Total debt | 4.95 | %(b) |  | 48,234 |  | 47,847
Less: Current portion |  |  |  | 4,217 |  | 3,280
Long-term debt |  |  | $ | 44,017 | $ | 44,567
(a) The December 31, 2014 and 2013 amounts include £625 million of 5.50% notes due 2029 which translated to $974 million and $1 billion, respectively, using the exchange rates as of these dates.
(b) Includes the effects of our derivative financial instruments.
As of December 31, 2014 and 2013, our debt had an estimated fair value of $55.3 billion and $51.8 billion, respectively. The estimated fair value of our publicly traded debt is primarily based on Level 1 inputs that use quoted market values for the debt. The estimated fair value of debt for which there are no quoted market prices is based on Level 2 inputs that use interest rates available to us for debt with similar terms and remaining maturities. See Note 20 for additio nal information on our cross-guarantee structure.
Debt Maturities
(in millions) | Weighted-Average Interest Rate as of December 31, 2014 |  |  |  |
2015 | 4.990 | % |  | $ | 4,217
2016 | 4.158 | % |  | $ | 3,530
2017 | 6.973 | % |  | $ | 2,558
2018 | 4.124 | % |  | $ | 4,117
2019 | 3.159 | % |  | $ | 2,205
Thereafter | 5.425 | % |  | $ | 31,607
2014 Debt Borrowings |  |
Year ended December 31, 2014 (in millions) |  |
Comcast 3.600% senior notes due 2024 | $ | 1,200
Comcast 3.375% senior notes due 2025 |  | 1,000
Comcast 4.200% senior notes due 2034 |  | 1,000
Comcast 4.750% senior notes due 2044 |  | 1,000
Total | $ | 4,200
2014 Debt Repayments |  |
Year ended December 31, 2014 (in millions) |  |
NBCUniversal Enterprise revolving credit facility | $ | 1,250
Comcast 5.300% senior notes due 2014 |  | 1,000
NBCUniversal 2.100% senior notes due 2014 |  | 900
Other |  | 25
Total | $ | 3,175
Debt Instruments Revolving Credit Facilities As of December 31, 2014, Comcast 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, 2014, the borrowing margin for London Interbank Offered Rate (“LIBOR”) based borrowings was 1.00%. This revolving credit facility requires that we maintai n 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, 2014, NBCUniv ersal Enterprise had a $1.35 billion revolving credit facility due March 2018 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, 20 14, the borrowing margin for LIBOR-based borrowings was 1.00%. As of December 31, 2014, amounts available under our consolidated credit facilit ies, net of amounts outstanding under our commercial paper program s and outstanding letters of credit, totale d $6.5 billion, which included $505 million available under NBCUniversal Enterprise’s revolving credit facility. Commercial Paper Program s Our commercial paper program s provide a lower-cost source of borrowing to fund our short-term working capital requirements. The Comcast commercial paper program is supported by the Comcast and Com cast Cable Communications, LLC $6.25 billion revolving credit facility due June 2017. In February 2014, NBCUniversal Enterprise entered into a commercial paper program. The maximum borrowing capacity under this commercial paper program is $1.35 billion, and it is supported by NBCUniversal Enterprise’s revolving credit facility. Letters of Credit As of December 31, 2014, we and certain of our subsidiaries had unused irrevocable standby letters of credit totaling $473 million to cover potential fundings under various agreements.
NBCUniversal Media, LLC [Member] |
Long-Term Debt | Note 10: Long-Term Debt
Long-Term Debt Outstanding |  |  |  |  |  |
December 31 (in millions) | Weighted-Average Interest Rate as of December 31, 2014 | 2014 |  | 2013
Senior notes with maturities of 5 years or less | 3.254 | % | $ | 2,005 | $ | 2,917
Senior notes with maturities between 5 and 10 years | 4.389 | % |  | 4,996 |  | 4,996
Senior notes with maturities greater than 10 years | 5.614 | % |  | 3,204 |  | 3,205
Other, including capital lease obligations | — |  |  | 44 |  | 47
Total debt | 4.46 | %(a) |  | 10,249 |  | 11,165
Less: Current portion |  |  |  | 1,023 |  | 906
Long-term debt |  |  | $ | 9,226 | $ | 10,259
(a) Includes the effects of our derivative financial instruments.
As of December 31, 2014 and 2013, our debt had an estimated fair value of $11.5 billion and $11.7 billion, respectively. The estimated fair value of our publicly traded debt is primarily based on Level 1 inputs that use quoted market values for the debt. The estimated fair value of debt for which there are no quoted market prices is based on Level 2 inputs that use interest rates available to us for debt with similar terms and remaining maturities.
Debt Maturities
(in millions) | Weighted-Average Interest Rate as of December 31, 2014 |  |  |  |
2015 | 3.633 | % |  | $ | 1,023
2016 | 2.894 | % |  | $ | 1,008
2017 | 6.296 | % |  | $ | 2
2018 | 6.307 | % |  | $ | 2
2019 | 6.329 | % |  | $ | 2
Thereafter | 4.871 | % |  | $ | 8,212
Debt Repayments In April 2014, we repaid at maturity $900 million aggregate principal amount of 2.10% senior notes due 2014. Cross-Guarantee Structure In 2013, we, Comcast and certain of Comcast’s 100% 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, 2014, we guaranteed $32.6 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 June 2017, of which no amounts were outstanding as of December 31, 2014. 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 and associated commercial paper program, 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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