Borrowings (Tables)

The components of long-term debt are as follows:



(Dollars in Millions)	2015			Effective Rate %			2014		Effective Rate %
2.15% Notes due 2016	$	900		2.22	%		898		2.22
3 month LIBOR+0.07% FRN due 2016	800			0.48			800		0.31
0.70% Notes due 2016	398			0.74			398		0.74
5.55% Debentures due 2017	1,000			5.55			1,000		5.55
1.125% Notes due 2017	700			1.15			697		1.15
5.15% Debentures due 2018	899			5.15			898		5.15
1.65% Notes due 2018	602			1.70			597		1.70
4.75% Notes due 2019 (1B Euro 1.0882)⁽²⁾/(1B Euro 1.2199)⁽³⁾	1,085		⁽²⁾	5.83			1,216	⁽³⁾	5.83
1.875% Notes due 2019	502			1.93			497		1.93
3% Zero Coupon Convertible Subordinated Debentures due 2020	137			3.00			158		3.00
2.95% Debentures due 2020	545			3.15			543		3.15
3.55% Notes due 2021	448			3.67			446		3.67
2.45% Notes due 2021	349			2.48			349		2.48
6.73% Debentures due 2023	250			6.73			250		6.73
3.375% Notes due 2023	811			3.17			812		3.17
5.50% Notes due 2024 (500MM GBP 1.4818)⁽²⁾/(500MM GBP 1.5542)⁽³⁾	737		⁽²⁾	6.75			772	⁽³⁾	6.75
6.95% Notes due 2029	297			7.14			297		7.14
4.95% Debentures due 2033	500			4.95			500		4.95
4.375% Notes due 2033	864			4.24			865		4.23
5.95% Notes due 2037	996			5.99			995		5.99
5.85% Debentures due 2038	700			5.86			700		5.86
4.50% Debentures due 2040	540			4.63			539		4.63
4.85% Notes due 2041	298			4.89			298		4.89
4.50% Notes due 2043	499			4.52			499		4.52
Other	104			—			105		—
Subtotal	14,961		⁽⁴⁾	4.06	%	⁽¹⁾	15,129	⁽⁴⁾	4.08	⁽¹	⁾
Less current portion	2,104						7
Total long-term debt	$	12,857					15,122


⁽¹⁾	Weighted average effective rate.


⁽²⁾	Translation rate at January 3, 2016.


⁽³⁾	Translation rate at December 28, 2014.


⁽⁴⁾	The excess of the fair value over the carrying value of debt was $1.7 billion in 2015 and $2.2 billion in 2014.

Aggregate maturities of long-term obligations commencing in 2016 are:



(Dollars in Millions)
2016	2017	2018	2019	2020	After 2020
$2,104	1,790	1,501	1,587	683	7,296

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details