Proctor and Gamble 2015 Annual Report Download - page 57

55 The Procter & Gamble Company
Amounts in millions of dollars except per share amounts or as otherwise specified.
approximately 2,340 and 1,640 non-manufacturing
employees, respectively. These separations were primarily in
North America and estern Europe. The packages were
predominantly voluntary and the amounts were calculated
based on salary levels and past service periods. Severance costs
related to voluntary separations are generally charged to
earnings when the employee accepts the offer. Since its
inception, the restructuring program has incurred separation
charges related to approximately 14,300 employees, of which
approximately 8,620 are non-manufacturing overhead
personnel.
Asset-Related Costs
Asset-related costs consist of both asset write-downs and
accelerated depreciation. Asset write-downs relate to the
establishment of a new fair value basis for assets held-for-sale
or disposal. These assets were written down to the lower of
their current carrying basis or amounts expected to be realized
upon disposal, less minor disposal costs. Charges for
accelerated depreciation relate to long-lived assets that will be
taken out of service prior to the end of their normal service
period. These assets relate primarily to manufacturing
consolidations and technology standardization. The asset-
related charges will not have a significant impact on future
depreciation charges.
Other Costs
Other restructuring-type charges are incurred as a direct result
of the restructuring program. Such charges primarily include
employee relocation related to separations and office
consolidations, termination of contracts related to supply chain
redesign and the cost to change internal systems and processes
to support the underlying organizational changes.
Consistent with our historical policies for ongoing
restructuring-type activities, the restructuring program charges
are funded by and included within Corporate for both
management and segment reporting. Accordingly, all charges
under the program are included within the Corporate reportable
segment. However, for informative purposes, the following
table summarizes the total restructuring costs related to our
reportable segments:
Years ended une 0 2015 2014
eauty, Hair and Personal Care  1 $ 83
Grooming 5 20
Health Care 2 10
Fabric Care and Home Care 19 119
aby, Feminine and Family Care 192 155
Corporate (1) 424 419
Total Company  1,0 $ 806
(1) Corporate includes costs related to allocated overheads,
including charges related to our Sales and Market Operations,
Global usiness Services and Corporate Functions activities and
costs related to discontinued operations from our Pet Care and
atteries businesses.
 
SHORT-TERM AND LONG-TERM DEBT
Years ended une 0 2015 2014
DEBT DUE WITHIN ONE YEAR
Current portion of long-term debt  2,2 $ 4,307
Commercial paper ,0 10,818
Other 442 481
TOTAL  12,021 $ 15,606
Short-term weighted average
interest rates (1) 0. 0.7
(1) Short-term weighted average interest rates include the effects of
interest rate swaps discussed in Note 5.
Years ended une 0 2015 2014
LONG-TERM DEBT
3.15 USD note due September 2015 500 500
1.80 USD note due November 2015 1,000 1,000
4.85 USD note due December 2015 00 700
1.45 USD note due August 2016 1,000 1,000
0.75 USD note due November 2016 500 500
Floating rate USD note due
November 2016 500 500
5.13 EUR note due October 2017 1,21 1,501
1.60 USD note due November 2018 1,000 1,000
4.70 USD note due February 2019 1,250 1,250
1.90 USD note due November 2019 550 
0.28 JPY note due May 2020 1 
4.13 EUR note due December 2020 1 819
9.36 ESOP debentures due
2015-2021 (1) 52 640
2.00 EUR note due November 2021 9 1,023
2.30 USD note due February 2022 1,000 1,000
2.00 EUR note due August 2022 1,119 1,365
3.10 USD note due August 2023 1,000 1,000
4.88 EUR note due May 2027 1,119 1,365
6.25 GP note due January 2030  851
5.50 USD note due February 2034 500 500
5.80 USD note due August 2034 00 600
5.55 USD note due March 2037 1,400 1,400
Capital lease obligations 52 83
All other long-term debt 2,94 5,521
Current portion of long-term debt 2,2 (4,307)
TOTAL 1,29 $19,811
Long-term weighted average interest
rates (2) .2 3.2
(1) Debt issued by the ESOP is guaranteed by the Company and must
be recorded as debt of the Company, as discussed in Note 9.
(2) Long-term weighted average interest rates include the effects of
interest rate swaps discussed in Note 5.
Long-term debt maturities during the next five fiscal years are as
follows:
Years ending une 0 201 201 201 2019 2020
Debt maturities $2,772 $2,094 $1,330 $2,355 $1,929
The Procter & Gamble Company fully and unconditionally
guarantees the registered debt and securities issued by its 100
owned finance subsidiaries.