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17. LONG-TERM BORROWINGS AND CAPITAL LEASE OBLIGATIONS
December 31, 2007 2006
U.S. dollar:
Industrial development bonds due 2026-2029
1
$50 $50
Medium-term notes due 2013-2048
2
457 454
6.75% notes due 2007
3, 4
-485
3.375% notes due 2007
3, 4
-395
5.75% notes due 2009 200 200
5.88% notes due 2009 404 408
6.88% notes due 2009
4
889 881
4.125% notes due 2010
4
914 884
4.75% notes due 2012 400 400
5.00% notes due 2013 748 -
4.875% notes due 2014 497 496
5.25% notes due 2016 598 598
6.50% debentures due 2028 298 298
5.60% notes due 2036 395 395
Other loans (average interest rate of 1.1 percent)
3
24 30
Foreign currency denominated loans
Euro loans (average interest rate of 4.7 percent)
3, 5
22 1,034
Other loans (various currencies)
3
70 154
5,966 7,162
Less short-term portion of long-term debt 21 1,163
5,945 5,999
Capital lease obligations 10 14
Total $5,955 $6,013
1
Average interest rates on industrial development bonds for December 31, 2007 and 2006, were 6.0 percent.
2
Average interest rates on medium-term notes at December 31, 2007 and 2006, were 5.1 percent and 5.3 percent, respectively.
3
Includes long-term debt due within one year.
4
The company has outstanding interest rate swap agreements with notional amounts totaling $1,150. Over the remaining terms of the notes
and debentures, the company will receive fixed payments equivalent to the underlying debt and pay floating payments based on USD LIBOR.
The fair value of the swaps was an asset of $19 at December 31, 2007 and a liability of $24 at December 31, 2006.
5
Subsidiary borrowings decreased in 2007 primarily due to the repayment of borrowings used to support the repatriation of foreign subsidiary
earnings under AJCA.
Maturities of long-term borrowings are $1,522, $915, $14 and $400 for the years 2009, 2010, 2011 and 2012,
respectively, and $3,094 thereafter.
The estimated fair value of the company’s long-term borrowings, including interest rate financial instruments, based
on quoted market prices for the same or similar issues or on current rates offered to the company for debt of the
same remaining maturities, was $6,000 at December 31, 2007 and 2006.
F-24
E. I. du Pont de Nemours and Company
Notes to the Consolidated Financial Statements (continued)
(Dollars in millions, except per share)