Quest Diagnostics 2013 Annual Report Download - page 104

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F- 32
Fair Value Hedges
As further discussed in Note 14, the Company has hedged the risk of changes in fair value attributable to the
variability in interest rates on a portion of certain senior notes through the use of interest rate swaps, which have been
designated as fair value hedges. The carrying value of these senior notes have been increased (decreased) for changes in fair
value of the related hedges and the amortization of the terminated hedges as of December 31, 2013 and 2012 as follows:
Notional
Amount
Hedged 2013 2012
3.20% Senior Notes due April 2016 $ 200 $ 7 $ 11
4.75% Senior Notes due January 2020 350 24 49
4.70% Senior Notes due April 2021 400 (16)(2)
$15$58
Maturities of Long-Term Debt
As of December 31, 2013, long-term debt maturing in each of the years subsequent to December 31, 2014 is as
follows:
Year Ending December 31,
2015 $ 515
2016 305
2017 379
2018 1
2019 —
Thereafter 1,925
Total maturities of long-term debt 3,125
Unamortized discount (20)
Fair value basis adjustments attributable to hedged debt 15
Total long-term debt, net of current portion $ 3,120
QUEST DIAGNOSTICS INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – CONTINUED
(in millions unless otherwise indicated)