|
Long-term borrowings at October 31 consisted of the following in millions of dollars:
|
|
|
2012 |
|
2011 |
|
|
Equipment Operations |
|
|
|
|
|
|
Notes and debentures: |
|
|
|
|
|
|
6.95% notes due 2014: ($700 principal) |
|
$ |
718 |
* |
$ |
736 |
* |
|
4.375% notes due 2019 |
|
750 |
|
750 |
|
|
8-1/2% debentures due 2022 |
|
105 |
|
105 |
|
|
2.60% notes due 2022 |
|
1,000 |
|
|
|
|
6.55% debentures due 2028 |
|
200 |
|
200 |
|
|
5.375% notes due 2029 |
|
500 |
|
500 |
|
|
8.10% debentures due 2030 |
|
250 |
|
250 |
|
|
7.125% notes due 2031 |
|
300 |
|
300 |
|
|
3.90% notes due 2042 |
|
1,250 |
|
|
|
|
Other notes |
|
372 |
|
326 |
|
|
Total |
|
|
5,445 |
|
|
3,167 |
|
|
Financial Services |
|
|
|
|
|
|
Notes and debentures: |
|
|
|
|
|
|
Medium-term notes due 2013 — 2023: (principal $15,242 - 2012, $11,911 - 2011) Average interest rates of 1.6% — 2012, 2.0% — 2011 |
|
|
15,737 |
* |
|
12,261 |
* |
|
5.10% debentures due 2013: ($650 principal) Swapped $450 in 2011 to variable interest rate of 1.1% — 2011 |
|
|
|
679 |
* |
|
2.75% senior note due 2022: ($500 principal) Swapped $500 in 2012 to variable interest rate of 1.1% — 2012 |
|
518 |
* |
|
|
|
Other notes |
|
753 |
|
853 |
|
|
Total |
|
17,008 |
|
13,793 |
|
|
Long-term borrowings** |
|
$ |
22,453 |
|
$ |
16,960 |
|
* Includes unamortized fair value adjustments related to interest rate swaps.
** All interest rates are as of year end.
The approximate principal amounts of the equipment operations’ long-term borrowings maturing in each of the next five years in millions of dollars are as follows: 2013 — $195, 2014 — $778, 2015 — $240, 2016 — $23 and 2017 — $25. The approximate principal amounts of the financial services’ long-term borrowings maturing in each of the next five years in millions of dollars are as follows: 2013 — $4,774, 2014 — $4,283, 2015 — $3,480, 2016 — $1,843 and 2017 — $2,651. |