Emerson 2011 Annual Report Download - page 40

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38 | 2011 Emerson
(8) Short-Term Borrowings and Lines of Credit
Short-term borrowings and current maturities of long-term debt are summarized as follows:
2010 2011
Current maturities of long-term debt $ 71 279
Commercial paper 401 588
Payable to banks 8 10
Total $480 877
Weighted-average short-term borrowing interest rate at year end 0.3% 0.1%
The Company periodically issues commercial paper as a source of short-term financing. In December 2010 the
Company entered into a $2.75 billion four-year revolving backup credit facility to support short-term borrowings,
which replaced a $2.83 billion five-year revolving credit facility dated April 2006. The Company did not draw upon
either facility in 2011, 2010 or 2009. The credit facility contains no financial covenants and is not subject to termination
based on a change in credit ratings or material adverse changes.
(9) Long-Term Debt
Long-term debt is summarized as follows:
2010 2011
5.75% notes due November 2011 $ 250 250
4.625% notes due October 2012 250 250
4.5% notes due May 2013 250 250
5.625% notes due November 2013 250 250
5.0% notes due December 2014 250 250
4.125% notes due April 2015 250 250
4.75% notes due October 2015 250 250
5.125% notes due December 2016 250 250
5.375% notes due October 2017 250 250
5.25% notes due October 2018 400 400
5.0% notes due April 2019 250 250
4.875% notes due October 2019 500 500
4.25% notes due November 2020 300 300
6.0% notes due August 2032 250 250
6.125% notes due April 2039 250 250
5.25% notes due November 2039 300 300
Other 157 103
Long-term debt 4,657 4,603
Less: Current maturities 71 279
Total, net $4,586 4,324
Long-term debt maturing during each of the four years after 2012 is $560, $265, $500 and $250, respectively. Total
interest paid related to short-term borrowings and long-term debt was approximately $239, $264 and $230 in 2011,
2010 and 2009, respectively.
The Company maintains a universal shelf registration statement on file with the SEC under which it could issue debt
securities, preferred stock, common stock, warrants, share purchase contracts and share purchase units without a
predetermined limit. Securities can be sold in one or more separate offerings with the size, price and terms to be
determined at the time of sale.