Kraft 2009 Annual Report Download - page 214
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On September 3, 2009, we redeemed our November 2011, 7% $200 million debenture at par value. Upon
redemption, we recorded a loss of $14 million within interest and other expense, net which represented the
write-off of the remaining discount. On November 12, 2009, we repaid $750 million in notes, and on October 1,
2008, we repaid $700 million in notes. These repayments were primarily financed from commercial paper
issuances.
Fair Value:
The aggregate fair value of our long-term debt, based on quoted prices in active markets for identical liabilities,
was $19,769 million at December 31, 2009 and $19,629 million at December 31, 2008.
The aggregate fair value of our third-party debt, based on market quotes, at December 31, 2009, was
$20,222 million as compared with the carrying value of $18,990 million. The aggregate fair value of our
third-party debt at December 31, 2008, was $20,526 million as compared with the carrying value of
$20,251 million.
Interest and Other Expense:
Interest and other expense was:
For the Years Ended December 31,
2009 2008 2007
(in millions)
Interest and other expense, net:
Interest expense, external
debt $ 1,260 $ 1,272 $ 739
Interest income, Altria and
affiliates - - (74)
Other income, net (23) (32) (61)
Total interest and other
expense, net $ 1,237 $ 1,240 $ 604
Source: KRAFT FOODS INC, 10-K, February 25, 2010 Powered by Morningstar® Document Research℠