Emerson 2010 Annual Report Download - page 46

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44
(8) Short-Term Borrowings and Lines of Credit
Short-term borrowings and current maturities of long-term debt are summarized as follows:
2009 2010
Current maturities of long-term debt $566 71
Commercial paper – 401
Payable to banks 11 8
Total $577 480
Weighted-average short-term borrowing interest rate at year end 1.1% 0.3%
The Company periodically issues commercial paper as a source of short-term financing. To support short-term
borrowing, the Company maintains, but has not drawn on, a $2.8 billion, five-year, revolving credit facility that expires
in April 2011. The credit facility has no financial covenants and is not subject to termination based on a change in credit
ratings or a material adverse change. There were no borrowings against U.S. lines of credit in the last three years. The
Company has initiated renewal of the backup credit facility and anticipates completion in the next three months.
(9) Long-Term Debt
Long-term debt is summarized as follows:
2009 2010
7.125% notes due August 2010 $ 500 –
5.75% notes due November 2011 250 250
4.625% notes due October 2012 250 250
4.5% notes due May 2013 250 250
5.625% notes due November 2013 250 250
5.0% notes due December 2014 250 250
4.125% notes due April 2015 250 250
4.75% notes due October 2015 250 250
5.125% notes due December 2016 250 250
5.375% notes due October 2017 250 250
5.25% notes due October 2018 400 400
5.0% notes due April 2019 250 250
4.875% notes due October 2019 500 500
4.25% notes due November 2020 – 300
6.0% notes due August 2032 250 250
6.125% notes due April 2039 250 250
5.25% notes due November 2039 – 300
Other 164 157
Long-term debt 4,564 4,657
Less: Current maturities 566 71
Total, net $3,998 4,586
Long-term debt maturing during each of the four years after 2011 is $284, $560, $251 and $501, respectively. Total
interest paid related to short-term borrowings and long-term debt was approximately $264, $230 and $235 in 2010,
2009 and 2008, respectively.
The Company has a universal shelf registration statement on file with the SEC under which it could issue debt securities,
preferred stock, common stock, warrants, share purchase contracts and share purchase units without a predetermined
limit. Securities can be sold in one or more separate offerings with the size, price and terms to be determined at the
time of sale.