Dow Chemical 2013 Annual Report Download - page 133
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111
Following is an analysis of certain cash flows between the Company and the third-party holders of the participating interests:
Cash Proceeds
In millions 2013 2012 2011
Sale of participating interests $ 59 $ 64 $ 143
Collections reinvested in revolving receivables $ 48 $ 58 $ 120
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 2013 2012
Derecognized from the consolidated balance sheets $ 15 $ 13
Outstanding in the consolidated balance sheets 195 283
Total accounts receivable in select Asia Pacific entities $ 210 $ 296
There were no credit losses on receivables relating to the participating interests sold during the years ended December 31,
2013, 2012 and 2011. There were no delinquencies on the outstanding receivables related to the participating interests sold at
December 31, 2013 or December 31, 2012.
NOTE 16 – NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES
Notes Payable at December 31
In millions 2013 2012
Notes payable to banks $ 300 $ 319
Notes payable to related companies 137 66
Notes payable trade 6 11
Total notes payable $ 443 $ 396
Year-end average interest rates 3.23% 3.14%
Long-Term Debt at December 31
In millions
2013
Average
Rate 2013
2012
Average
Rate 2012
Promissory notes and debentures:
Final maturity 2013 — $ — 6.01% $ 404
Final maturity 2014 5.33% 399 6.86% 1,138
Final maturity 2015 2.89% 56 5.82% 1,290
Final maturity 2016 2.53% 805 2.54% 789
Final maturity 2017 5.65% 491 5.88% 890
Final maturity 2018 5.43% 570 5.59% 840
Final maturity 2019 and thereafter 5.94% 12,200 5.96% 12,148
Other facilities:
U.S. dollar loans, various rates and maturities 1.44% 490 2.30% 288
Foreign currency loans, various rates and maturities 3.18% 1,140 3.50% 1,336
Medium-term notes, varying maturities through 2023 3.76% 1,143 4.26% 1,132
Pollution control/industrial revenue bonds, varying maturities
through 2038 5.59% 518 5.67% 718
Capital lease obligations — 41 — 21
Unamortized debt discount — (336) — (403)
Long-term debt due within one year — (697) — (672)
Long-term debt — $ 16,820 — $ 19,919