Alcoa 2009 Annual Report Download - page 111

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and other charges on the accompanying Statement of Consolidated Operations to adjust the carrying value of its
investment in Sapa AB to the estimated fair value (see Note D). This transaction was completed in March 2009 (see
Note F).
Other Investments. As of December 31, 2009 and 2008, Other investments included $105 and $27, respectively, in
exchange-traded fixed income and equity securities, which are classified as available-for-sale and are carried at fair
value with unrealized gains and losses recognized in other comprehensive income. Unrealized and realized gains and
losses related to these securities were immaterial in 2009 and 2008.
J. Other Noncurrent Assets
December 31, 2009 2008
Intangibles, net (E) $ 590 $ 610
Prepaid pension benefit (W) 94 122
Prepaid gas transmission contract 288 217
Cash surrender value of life insurance 453 394
Other 994 1,043
$2,419 $2,386
K. Debt
Long-Term Debt.
December 31, 2009 2008
7.375% Notes, due 2010 $ 511 $ 511
6.5% Notes, due 2011 584 584
6% Notes, due 2012 517 517
5.375% Notes, due 2013 600 600
6% Notes, due 2013 750 750
5.25% Convertible Notes, due 2014 575 -
5.55% Notes, due 2017 750 750
6.5% Bonds, due 2018 250 250
6.75% Notes, due 2018 750 750
5.72% Notes, due 2019 750 750
5.87% Notes, due 2022 627 627
5.9% Notes, due 2027 625 625
6.75% Bonds, due 2028 300 300
5.95% Notes due 2037 625 625
BNDES Loans, due 2010-2029 (see below for weighted average rates) 1,075 546
Other* 354 380
9,643 8,565
Less: amount due within one year 669 56
$8,974 $8,509
*Other includes various financing arrangements related to subsidiaries, unamortized debt discounts, a beneficial conversion
feature related to the convertible notes (see below), and adjustments to the carrying value of long-term debt related to
interest swap contracts accounted for as fair value hedges (see Note X).
The principal amount of long-term debt maturing in each of the next five years is $666 in 2010, $844 in 2011, $701 in
2012, $1,537 in 2013, and $804 in 2014.
2009 Activity—In March 2009, Alcoa issued $575 of 5.25% convertible notes due 2014 (the “convertible notes”) as
senior debt securities under Alcoa’s shelf registration statement dated March 10, 2008. The issuance of the convertible
notes included $75 related to the exercise of an over-allotment option by the underwriters. The underwriting discount
103