XML 97 R22.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Long-Term Borrowings and Capital Lease Obligations | 12 Months Ended
--- | ---
Dec. 31, 2013
Long-term Debt and Capital Lease Obligations [Abstract] |
Long-Term Borrowings and Capital Lease Obligations | LONG-TERM BORROWINGS AND CAPITAL LEASE OBLIGATIONS
December 31, | 2013 | 2012
U.S. dollar: |  |
Medium-term notes due 2013 – 2041 1,2 | $ | 121 |  | $ | 374 |
5.00% notes due 2013 2 | — |  | 250 |
5.00% notes due 2013 2 | — |  | 749 |
5.875% notes due 2014 2 | 170 |  | 170 |
1.75% notes due 2014 2 | 400 |  | 400 |
Floating rate notes due 2014 2,3 | 600 |  | 600 |
4.875% notes due 2014 2 | 500 |  | 499 |
3.25% notes due 2015 4 | 1,028 |  | 1,054 |
4.75% notes due 2015 | 400 |  | 400 |
1.95% notes due 2016 | 498 |  | 497 |
2.75% notes due 2016 | 500 |  | 499 |
5.25% notes due 2016 | 599 |  | 599 |
6.00% notes due 2018 5 | 1,361 |  | 1,383 |
5.75% notes due 2019 | 499 |  | 499 |
4.625% notes due 2020 | 997 |  | 997 |
3.625% notes due 2021 | 999 |  | 999 |
4.25% notes due 2021 | 499 |  | 499 |
2.80% notes due 2023 | 1,250 |  | — |
6.50% debentures due 2028 | 299 |  | 299 |
5.60% notes due 2036 | 395 |  | 395 |
4.90% notes due 2041 | 494 |  | 493 |
4.15% notes due 2043 | 749 |  | — |
Other loans (average interest rate of 4.2 percent)2 | 33 |  | 36 |
Other loans-various currencies 2 | 1 |  | 2 |
| 12,392 |  | 11,693 |
Less short-term portion of long-term debt | 1,674 |  | 1,252 |
| 10,718 |  | 10,441 |
Capital lease obligations | 23 |  | 24 |
Total | $ | 10,741 |  | $ | 10,465 |
1. | Average interest rates on medium-term notes at December 31, 2013 and 2012 were 0.0% and 4.0%, respectively.
2. | Includes long-term debt due within one year.
3. | Interest rate on floating rate notes at December 31, 2013 and 2012 was 0.7%.
4. | At December 31, 2013 and 2012, the company had outstanding interest rate swap agreements with gross notional amounts of $1,000. Over the remaining terms of the notes, the company will receive fixed payments equivalent to the underlying debt and pay floating payments based on USD LIBOR (London Interbank Offered Rate). The fair value of outstanding swaps was an asset of $29 and $55 at December 31, 2013 and 2012, respectively.
5. | During 2008, the interest rate swap agreement associated with these notes was terminated. The gain will be amortized over the remaining life of the bond, resulting in an effective yield of 3.85%.
In 2013, the company issued $1,250 of 2.80% Notes due February 15, 2023 and $750 of 4.15% Notes due February 15, 2043. Maturities of long-term borrowings are $1,429, $1,597, $0 and $1,361 for the years 2015, 2016, 2017 and 2018, respectively, and $6,331 thereafter. The estimated fair value of the company's long-term borrowings, including interest rate financial instruments, was determined using level 2 inputs within the fair value hierarchy, as described in Note 1 to the Consolidated Financial Statements. Based on quoted market prices for the same or similar issues, or on current rates offered to the company for debt of the same remaining maturities, the fair value of the company's long-term borrowings was $11,130 and $11,715 at December 31, 2013 and 2012, respectively.

X
- Details
Name: | us-gaap_LongTermDebtAndCapitalLeaseObligationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebtTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration