E-Z-GO 2009 Annual Report Download - page 70

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Textron Inc.
Note 8. Debt and Credit Facilities
Our debt and credit facilities are summarized below:
January 2, January 3,
(In millions) 2010 2009
Manufacturing group:
Short-term debt:
Commercial paper (weighted-average rate of 6.4%) $ — $ 867
Current portion of long-term debt 134 9
Total short-term debt 134 876
Long-term senior debt:
Medium-term notes due 2010 to 2011 (average rate of 9.85%) 13 17
4.50% due 2010 128 250
Credit line borrowings due 2012 (weighted-average rate of 0.96%) 1,167 —
6.50% due 2012 154 300
3.875% due 2013 345 429
4.50% convertible senior notes due 2013 471 —
6.20% due 2015 350 —
5.60% due 2017 350 350
7.25% due 2019 250 —
6.625% due 2020 240 219
Other (average rate of 3.65% and 3.93%, respectively) 116 137
3,584 1,702
Current portion of long-term debt (134) (9)
Total long-term debt 3,450 1,693
Total Manufacturing group debt $ 3,584 $ 2,569
Finance group:
Commercial paper (weighted-average rate of 5.64%) $ — $ 743
Other short-term debt — 25
Medium-term fixed-rate and variable-rate notes*:
Due 2009 (weighted-average rate of 4.07%) — 1,534
Due 2010 (weighted-average rate of 2.09% and 3.85%, respectively) 1,635 2,315
Due 2011 (weighted-average rate of 2.94% and 4.42%, respectively) 419 727
Due 2012 (weighted-average rate of 4.43%) 52 52
Due 2013 (weighted-average rate of 4.49% and 4.82%, respectively) 578 578
Due 2014 (weighted-average rate of 5.07%) 111 111
Due 2015 and thereafter (weighted-average rate of 4.07% and 4.98%, respectively) 232 41
Credit line borrowings due 2012 (weighted-average rate of 0.91%) 1,740 —
Securitized on-balance sheet debt (weighted-average rate of 1.45% and 3.09%, respectively) 559 853
6% Fixed-to-Floating Rate Junior Subordinated Notes 300 300
Fair value adjustments and unamortized discount 41 109
Total Finance group debt $ 5,667 $ 7,388
* Variable-rate notes totaled $1.4 billion and $2.5 billion at January 2, 2010 and January 3, 2009, respectively.
The Manufacturing group had a weighted-average interest rate on commercial paper borrowings of 4.6% and 4.3% in 2009 and 2008,
respectively. The Finance group had a weighted-average interest rate on commercial paper borrowings of 4.37% and 3.63% in 2009 and
2008, respectively.
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