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Debt and Borrowing Arrangements (Tables)
 12 Months Ended
Dec. 31, 2015
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,  
     2015      2014  
     Amount      Weighted-      Amount      Weighted-  
     Outstanding      Average Rate      Outstanding      Average Rate  
     (in millions)             (in millions)         

Commercial paper

    $ –         0.0%       $ 1,101         0.4%   

Bank loans

      236         9.5%         204         8.8%   
  

 

 

        

 

 

     

Total short-term borrowings

    $ 236          $ 1,305      
  

 

 

        

 

 

     
Long-Term Debt

Our long-term debt consisted of (interest rates are as of December 31, 2015):

 

     As of December 31,  
     2015      2014  
     (in millions)  

U.S. dollar notes, 0.37% to 7.00% (weighted-average effective rate 4.75%),
due through 2040

    $ 8,371       $ 10,836   

Euro notes, 1.08% to 2.55% (weighted-average effective rate 1.97%), due through 2035

      4,305         3,911   

Pound sterling notes, 3.88% to 7.25% (weighted-average effective rate 4.35%), due through 2045

      1,399         573   

Swiss franc notes, 0.00% to 1.125% (weighted-average effective rate 0.73%), due through 2025

      1,075         –   

Capital leases and other obligations

      12         31   
  

 

 

     

 

 

  

Total

      15,162         15,351   

Less current portion of long-term debt

      (605 )       (1,530 ) 
  

 

 

     

 

 

  

Long-term debt

    $ 14,557       $ 13,821   
  

 

 

     

 

 

  
Aggregate Maturities of Debt and Capital Leases Based on Stated Contractual Maturities

As of December 31, 2015, aggregate maturities of our debt and capital leases based on stated contractual maturities, excluding unamortized non-cash bond premiums, discounts, bank fees and mark-to-market adjustments of $(70) million, were (in millions):

 

                                                                                                                 
        2016            2017    2018    2019    2020    Thereafter    Total
$1,755    $1,481    $1,110    $1,250    $827    $8,809    $15,232
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,  
     2015      2014      2013  
            (in millions)         

Interest expense, debt

    $ 609       $ 778       $ 1,017   

Loss on debt extinguishment and related expenses

      753         495         612   

Coffee business transactions currency-related net gains

      (436 )       (628 )       –   

Loss related to interest rate swaps

      34         –         –   

Benefit from indemnification resolution

      –         –         (49 ) 

Other expense / (income), net

      53         43         (1 ) 
  

 

 

     

 

 

     

 

 

  

Interest and other expense, net

    $ 1,013       $ 688       $ 1,579