Xerox 2015 Annual Report Download - page 117
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Long-term debt was as follows:
December 31,
Weighted Average
Interest Rates at
December 31, 2015(2) 2015 2014
Xerox Corporation
Senior Notes due 2015 4.29%$ —$1,000
Senior Notes due 2016 6.48%700 700
Notes due 2016 7.20%250 250
Senior Notes due 2017 6.83%500 500
Senior Notes due 2017 2.98%500 500
Notes due 2018 0.57%11
Senior Notes due 2018 6.37%1,000 1,000
Senior Notes due 2019 2.77%500 500
Senior Notes due 2019 5.66%650 650
Senior Notes due 2020 2.81%400 400
Senior Notes due 2020 3.70%400 —
Senior Notes due 2020 2.77%400 —
Senior Notes due 2021 5.39%1,062 1,062
Senior Notes due 2024 3.84%300 300
Senior Notes due 2035 4.84%250 —
Senior Notes due 2039 6.78%350 350
Subtotal - Xerox Corporation $
7,263 $7,213
Subsidiary Companies
Senior Notes due 2015 4.25%— 250
Capital lease obligations 4.18%98
105
Other 0.19%13
Subtotal - Subsidiary Companies $99$
358
Principal debt balance 7,362 7,571
Unamortized discount (52)(54)
Fair value adjustments(1)
Terminated swaps 47 68
Current swaps 75
Less: current maturities (982)(1,276)
Total Long-term Debt $6,382 $6,314
____________
(1) Fair value adjustments include the following: (i) fair value adjustments to debt associated with terminated interest rate swaps, which are
being amortized to interest expense over the remaining term of the related notes; and (ii) changes in fair value of hedged debt obligations
attributable to movements in benchmark interest rates. Hedge accounting requires hedged debt instruments to be reported inclusive of any
fair value adjustment.
(2) Represents weighted average effective interest rate which includes the effect of discounts and premiums on issued debt.
Scheduled principal payments due on our long-term debt for the next five years and thereafter are as follows:
2016(1) (2) 2017 2018 2019 2020 Thereafter Total
$ 980 $ 1,027 $ 1,020 $1,161 $1,207 $1,967 $7,362
_____________
(1) Quarterly long-term debt maturities from continuing operations for 2016 are $709, $257, $7 and $7 for the first, second, third and fourth
quarters, respectively.
(2) Excludes fair value adjustments of $2.
Xerox 2015 Annual Report 100