Dow Chemical 2012 Annual Report Download - page 139
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113
Following is additional information related to the sale of participating interests in the receivables under this facility:
Trade Accounts Receivable at December 31
In millions 2012 2011
Derecognized from the consolidated balance sheets $ 13 $ 13
Outstanding in the consolidated balance sheets 283 303
Total accounts receivable in select Asia Pacific entities $ 296 $ 316
There were no credit losses on receivables relating to the participating interests sold during the years ended December 31,
2012, 2011 and 2010. There were no delinquencies on the outstanding receivables related to the participating interests sold at
December 31, 2012 or December 31, 2011.
NOTE 16 – NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES
Notes Payable at December 31
In millions 2012 2011
Notes payable to banks $ 319 $ 421
Notes payable to related companies 66 92
Notes payable trade 11 28
Total notes payable $ 396 $ 541
Year-end average interest rates 3.14% 3.06%
Long-Term Debt at December 31
In millions
2012
Average
Rate 2012
2011
Average
Rate 2011
Promissory notes and debentures:
Final maturity 2012 — $ — 5.35% $ 2,158
Final maturity 2013 6.01% 404 6.10% 395
Final maturity 2014 6.86% 1,138 7.28% 2,103
Final maturity 2015 5.82% 1,290 5.92% 1,257
Final maturity 2016 2.54% 789 2.57% 757
Final maturity 2017 5.88% 890 6.03% 857
Final maturity 2018 and thereafter 5.93% 12,988 6.55% 10,305
Other facilities:
U.S. dollar loans, various rates and maturities 2.30% 288 2.37% 232
Foreign currency loans, various rates and maturities 3.50% 1,336 3.52% 1,609
Medium-term notes, varying maturities through 2022 4.26% 1,132 4.76% 902
Pollution control/industrial revenue bonds, varying maturities
through 2038 5.67% 718 5.70% 860
Capital lease obligations — 21 — 17
Unamortized debt discount — (403) — (393)
Long-term debt due within one year — (672) — (2,749)
Long-term debt — $ 19,919 — $ 18,310
Annual Installments on Long-Term Debt
for Next Five Years
In millions
2013 $ 672
2014 $ 1,438
2015 $ 1,712
2016 $ 1,043
2017 $ 1,212
On December 17, 2012, the Company redeemed $1.0 billion aggregate principal amount of 7.6 percent notes due May 15,
2014, at a price of 109.6 percent of the principal amount of the notes, plus accrued and unpaid interest. As a result of this