| Long-Term Debt |
| | | | | | | | | | | | | Balance | | Balance | (Dollars in millions) | | Maturities | | 3/31/2020 | | 12/31/2019 | U.S. dollar debt (weighted-average interest rate at March 31, 2020):* | | | | | | | | | 2.3% | | 2020 | | $ | 2,766 | | $ | 4,326 | 2.4% | | 2021 | | | 5,556 | | | 8,498 | 2.6% | | 2022 | | | 6,257 | | | 6,289 | 3.3% | | 2023 | | | 2,413 | | | 2,388 | 3.3% | | 2024 | | | 5,049 | | | 5,045 | 6.7% | | 2025 | | | 645 | | | 636 | 3.3% | | 2026 | | | 4,350 | | | 4,350 | 4.7% | | 2027 | | | 969 | | | 969 | 6.5% | | 2028 | | | 313 | | | 313 | 3.5% | | 2029 | | | 3,250 | | | 3,250 | 5.9% | | 2032 | | | 600 | | | 600 | 8.0% | | 2038 | | | 83 | | | 83 | 4.5% | | 2039 | | | 2,745 | | | 2,745 | 4.0% | | 2042 | | | 1,107 | | | 1,107 | 7.0% | | 2045 | | | 27 | | | 27 | 4.7% | | 2046 | | | 650 | | | 650 | 4.3% | | 2049 | | | 3,000 | | | 3,000 | 7.1% | | 2096 | | | 316 | | | 316 | | | | | $ | 40,097 | | $ | 44,594 | Other currencies (weighted-average interest rate at March 31, 2020, in parentheses):* | | | | | | | | | Euro (1.1%) | | 2020–2040 | | $ | 18,126 | | $ | 14,306 | Pound sterling (2.7%) | | 2020–2022 | | | 1,311 | | | 1,390 | Japanese yen (0.3%) | | 2022–2026 | | | 1,349 | | | 1,339 | Other (4.1%) | | 2020–2022 | | | 288 | | | 375 | | | | | $ | 61,170 | | $ | 62,003 | Finance lease obligations (2.4%) | | 2021–2030 | | | 246 | | | 204 | | | | | $ | 61,417 | | $ | 62,207 | Less: net unamortized discount | | | | | 881 | | | 881 | Less: net unamortized debt issuance costs | | | | | 151 | | | 142 | Add: fair value adjustment** | | | | | 491 | | | 440 | | | | | $ | 60,875 | | $ | 61,624 | Less: current maturities | | | | | 8,190 | | | 7,522 | Total | | | | $ | 52,685 | | $ | 54,102 |
* Includes notes, debentures, bank loans and secured borrowings. ** The portion of the company’s fixed-rate debt obligations that was hedged was reflected in the Consolidated Balance Sheet as an amount equal to the sum of the debt’s carrying value and a fair value adjustment representing changes in the fair value of the hedged debt obligations attributable to movements in benchmark interest rates.
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| Pre-swap annual contractual obligations of long-term debt outstanding |
Pre-swap annual contractual obligations of long-term debt outstanding at March 31, 2020, are as follows: | | | | (Dollars in millions) | | Total | Remainder of 2020 | | $ | 5,731 | 2021 | | | 6,897 | 2022 | | | 7,180 | 2023 | | | 5,342 | 2024 | | | 6,302 | Thereafter | | | 29,964 | Total | | $ | 61,417 |
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