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Debt and Borrowing Arrangements (Tables)

12 Months Ended

Dec. 31, 2017

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,
		2017								2016
		Amount				Weighted-				Amount				Weighted-
		Outstanding				Average Rate				Outstanding				Average Rate
		(in millions)								(in millions)
Commercial paper		$	3,410				1.7	%		$	2,371				1.0	%
Bank loans			107				11.5	%			160				10.6	%
Total short-term borrowings		$	3,517							$	2,531

Long-Term Debt

Our long-term debt consisted of (interest rates are as of December 31, 2017):

		As of December 31,
		2017				2016
		(in millions)
U.S. dollar notes, 1.385% to 7.000% (weighted-average effective rate 3.414%), due through 2040		$	8,327			$	8,812
Euro notes, 1.000% to 2.375% (weighted-average effective rate 1.930%), due through 2035			3,653				3,980
Pound sterling notes, 3.875% to 7.250% (weighted-average effective rate 4.441%), due through 2045			456				418
Swiss franc notes, 0.050% to 1.125% (weighted-average effective rate 0.627%), due through 2025			1,694				1,449
Capital leases and other obligations			5				9
Total			14,135				14,668
Less current portion of long-term debt			(1,163	)			(1,451	)
Long-term debt		$	12,972			$	13,217

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

As of December 31, 2017, 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 $(64) million, were (in millions):

2018		2019		2020		2021		2022		Thereafter		Total
$1,163		$2,651		$896		$3,373		$754		$5,362		$14,199

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,
		2017				2016				2015
		(in millions)
Interest expense, debt		$	396			$	515			$	609
Loss on debt extinguishment and related expenses			11				427				753
JDE coffee business transactions currency-related net  gains			–				–				(436	)
Loss related to interest rate swaps			–				97				34
Other (income)/expense, net			(25	)			76				53
Interest and other expense, net		$	382			$	1,115			$	1,013

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