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DR PEPPER SNAPPLE GROUP, INC.
NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
69
8. Prepaid Expenses and Other Current Assets and Other Current Liabilities
The table below details the components of prepaid expenses and other current assets and other current liabilities as of December
31, 2014 and 2013 (in millions):
December 31, December 31,
2014 2013
Prepaid expenses and other current assets:
Customer incentive programs $ 18 $ 24
Derivative instruments 11 21
Current assets held for sale 12 —
Other 45 33
Total prepaid expenses and other current assets $ 86 $ 78
Other current liabilities:
Customer rebates and incentives $ 248 $ 214
Accrued compensation 127 107
Insurance liability 46 47
Interest accrual 26 26
Dividends payable 79 75
Derivative instruments 18 13
Other 128 113
Total other current liabilities $ 672 $ 595
9. Long-term Obligations and Borrowing Arrangements
LONG-TERM OBLIGATIONS
The following table summarizes the Company's long-term obligations as of December 31, 2014 and 2013 (in millions):
December 31, December 31,
2014 2013
Senior unsecured notes(1) $ 2,505 $ 2,453
Capital lease obligations 86 56
Subtotal 2,591 2,509
Less — current portion (3)(1)
Long-term obligations $ 2,588 $ 2,508
____________________________
(1) The carrying amount includes the unamortized net discount on debt issuances and adjustments of $34 million and $18 million
as of December 31, 2014 and 2013, respectively, related to the change in the fair value of interest rate swaps designated as
fair value hedges. See Note 10 for further information regarding derivatives.