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Debt and Borrowing Arrangements (Tables)
 12 Months Ended
Dec. 31, 2014
Short-Term Borrowings and Related Weighted-Average Interest Rates

Our short-term borrowings and related weighted-average interest rates consisted of:

 

                                                                           
     As of December 31,  
     2014      2013  
     Amount      Weighted-      Amount      Weighted-  
     Outstanding      Average Rate      Outstanding      Average Rate  
     (in millions)             (in millions)         

Commercial paper

    $ 1,101         0.4%       $ 1,410         0.4%   

Bank loans

      204         8.8%         184         7.7%   
  

 

 

        

 

 

     

Total short-term borrowings

 $ 1,305    $ 1,594   
  

 

 

        

 

 

     
Long-Term Debt

Our long-term debt consisted of (interest rates are as of December 31, 2014):

 

                                     
     As of December 31,  
     2014      2013  
     (in millions)  

U.S. dollar notes, 0.76% to 7.00% (weighted-average effective rate 5.13%),
due through 2040

    $ 10,873       $ 9,907   

Euro notes, 0.58% to 6.25% (weighted-average effective rate 3.03%),
due through 2021

      3,918         4,448   

Pound sterling notes, 7.25% (weighted-average effective rate 5.44%),
due through 2018

      573         1,116   

Capital leases and other obligations

      31         14   
  

 

 

     

 

 

  

Total

   15,395      15,485   

Less current portion of long-term debt

   (1,530 )    (1,003 ) 
  

 

 

     

 

 

  

Long-term debt

 $ 13,865    $ 14,482   
  

 

 

     

 

 

  
Aggregate Maturities of Debt Based on Stated Contractual Maturities

As of December 31, 2014, aggregate maturities of our debt based on stated contractual maturities were (in millions):

 

                                                                                                                 

        2015        

    2016    2017    2018    2019    Thereafter    Total
$1,530    $1,763    $1,498    $1,697    $1,250    $7,667    $15,405
Interest and Other Expense Net Within Results of Continuing Operations

Interest and other expense, net within our results of continuing operations consisted of:

 

                                                        
     For the Years Ended December 31,  
     2014      2013      2012  
            (in millions)         

Interest expense, debt

    $ 778       $ 1,017       $ 1,177   

Loss on debt extinguishment and related expenses

      495         612         –   

Unrealized gain on planned coffee business transactions currency hedge

      (628 )       –         –   

Benefit from indemnification resolution

      –         (49 )       –   

Spin-Off-related financing fees

      –         –         609   

Other expense / (income), net

      43         (1 )       77   
  

 

 

     

 

 

     

 

 

  

Total interest and other expense, net

 $ 688    $ 1,579    $ 1,863