United Healthcare 2014 Annual Report Download - page 88

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8. Commercial Paper and Long-Term Debt
Commercial paper and senior unsecured long-term debt consisted of the following:
December 31, 2014 December 31, 2013
(in millions, except percentages)
Par
Value
Carrying
Value
Fair
Value
Par
Value
Carrying
Value
Fair
Value
Commercial paper ............................. $ 321 $ 321 $ 321 $ 1,115 $ 1,115 $ 1,115
4.750% notes due February 2014 ................. — — — 172 173 173
5.000% notes due August 2014 .................. — — — 389 397 400
Floating-rate notes due August 2014 .............. — — — 250 250 250
4.875% notes due March 2015 (a) ................ 416 419 419 416 431 436
0.850% notes due October 2015 (a) ............... 625 625 627 625 624 628
5.375% notes due March 2016 (a) ................ 601 623 634 601 641 657
1.875% notes due November 2016 (a) ............. 400 397 406 400 398 408
5.360% notes due November 2016 ................ 95 95 103 95 95 107
6.000% notes due June 2017 (a) .................. 441 466 489 441 479 506
1.400% notes due October 2017 (a) ............... 625 616 624 625 613 617
6.000% notes due November 2017 (a) ............. 156 164 175 156 168 178
1.400% notes due December 2017 (a) ............. 750 745 749 — — —
6.000% notes due February 2018 (a) .............. 1,100 1,106 1,238 1,100 1,116 1,271
1.625% notes due March 2019 (a) ................ 500 496 493 500 489 481
2.300% notes due December 2019 (a) ............. 500 496 502 — — —
3.875% notes due October 2020 (a) ............... 450 450 477 450 435 474
4.700% notes due February 2021 (a) .............. 400 413 450 400 416 436
3.375% notes due November 2021 (a) ............. 500 496 519 500 472 494
2.875% notes due December 2021 (a) ............. 750 748 759 — — —
2.875% notes due March 2022 (a) ................ 1,100 1,042 1,104 1,100 981 1,046
0.000% notes due November 2022 ................ 15 10 11 15 9 10
2.750% notes due February 2023 (a) .............. 625 604 613 625 563 572
2.875% notes due March 2023 (a) ................ 750 777 745 750 729 698
5.800% notes due March 2036 ................... 850 845 1,052 850 845 935
6.500% notes due June 2037 ..................... 500 495 670 500 495 593
6.625% notes due November 2037 ................ 650 646 888 650 645 786
6.875% notes due February 2038 ................. 1,100 1,085 1,544 1,100 1,084 1,370
5.700% notes due October 2040 .................. 300 298 378 300 298 329
5.950% notes due February 2041 ................. 350 348 455 350 348 397
4.625% notes due November 2041 ................ 600 593 646 600 593 567
4.375% notes due March 2042 ................... 502 486 536 502 486 459
3.950% notes due October 2042 .................. 625 611 621 625 611 530
4.250% notes due March 2043 ................... 750 740 786 750 740 673
Total commercial paper and long-term debt ......... $17,347 $17,256 $19,034 $16,952 $16,739 $17,596
(a) Fixed-rate debt instruments hedged with interest rate swap contracts. See below for more information on the Company’s
interest rate swaps.
The Company’s long-term debt obligations also included $150 million and $121 million of other financing
obligations, of which $34 million were current as of both December 31, 2014 and December 31, 2013.
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