Quest Diagnostics 2013 Annual Report Download - page 102

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F- 30
12. ACCOUNTS PAYABLE AND ACCRUED EXPENSES
Accounts payable and accrued expenses at December 31, 2013 and 2012 consisted of the following:
2013 2012
Trade accounts payable $ 258 $ 204
Accrued wages and benefits 283 335
Income taxes payable 778
Accrued interest 61 61
Accrued expenses 311 338
Total $ 920 $ 1,016
13. DEBT
Current portion of long-term debt at December 31, 2013 and 2012 consisted of the following:
2013 2012
Current portion of long-term debt $ 212 $ 10
Short-term weighted average interest rates 1.17% 0.98%
Long-term debt at December 31, 2013 and 2012 consisted of the following:
2013 2012
Floating Rate Senior Notes due March 2014 $ 200 $ 200
5.45% Senior Notes due November 2015 500 499
3.20% Senior Notes due April 2016 307 311
6.40% Senior Notes due July 2017 375 375
4.75% Senior Notes due January 2020 520 544
4.70% Senior Notes due April 2021 533 547
6.95% Senior Notes due July 2037 421 421
5.75% Senior Notes due January 2040 439 439
Other 37 28
Total long-term debt 3,332 3,364
Less: current portion of long-term debt 212 10
Total long-term debt, net of current portion $ 3,120 $ 3,354
Secured Receivables Credit Facility
The Company has a $525 million secured receivables credit facility (the “Secured Receivables Credit Facility”) which
was renewed in December 2013 and matures on December 5, 2014. Interest on the Secured Receivables Credit Facility is
based on rates that are intended to approximate commercial paper rates for highly-rated issuers. At December 31, 2013 and
2012, the Company's borrowing rate under the Secured Receivables Credit Facility was 0.86% and 0.97%, respectively.
Borrowings under the Secured Receivables Credit Facility are collateralized by certain domestic receivables. At both
December 31, 2013 and 2012, there were no outstanding borrowings under the Secured Receivables Credit Facility.
QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED
(in millions unless otherwise indicated)