Debt and Borrowing Arrangements
|6 Months Ended|
Jul. 03, 2015
|Debt and borrowing arrangements|
|Debt and Borrowing Arrangements||
DEBT AND BORROWING ARRANGEMENTS
During the six months ended July 3, 2015, the Company issued €8,500 million of long-term debt. The carrying value of this debt as of July 3, 2015 was $9,421 million. The general terms of the notes issued are as follows:
During the six months ended July 3, 2015, the Company retired $1,500 million of long-term debt upon maturity. The Company also extinguished $2,039 million of long-term debt prior to maturity, incurring associated charges of $320 million recorded in the line item interest expense in our condensed consolidated statement of income. These charges included the difference between the reacquisition price and the net carrying amount of the debt extinguished, including the impact of the related fair value hedging relationship. The general terms of the notes that were extinguished are as follows:
-- None. No documentation exists for this element. --
No definition available.
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.
Reference 1: http://www.xbrl.org/2003/role/presentationRef