Mondelez 2014 Annual Report Download - page 79

Table of Contents
the covenant was $35.1 billion. The revolving credit facility agreement also contains customary representations, covenants and
events of default. There are no credit rating triggers, provisions or other financial covenants that could require us to post collateral
as security. As of December 31, 2014, no amounts were drawn on the facility.
Some of our international subsidiaries maintain primarily uncommitted credit lines to meet short-term working capital needs.
Collectively, these credit lines amounted to $2.1 billion at December 31, 2014 and $2.4 billion at December 31, 2013. Borrowings
on these lines amounted to $204 million at December 31, 2014 and $184 million at December 31, 2013.
Long-Term Debt:
Our long-term debt consisted of (interest rates are as of December 31, 2014):
As of December 31, 2014, aggregate maturities of our debt based on stated contractual maturities were (in millions):
On December 11, 2014, £300 million of our 5.375% British pound sterling bonds matured. The bonds and accrued interest to date
were paid with cash on hand and the issuance of commercial paper.
On February 19, 2014, $500 million of our 6.75% U.S. dollar notes matured. The notes and accrued interest to date were paid with
cash on hand and the issuance of commercial paper.
On February 6, 2014, we completed a cash tender offer and retired $1.56 billion of our long-term U.S. dollar debt consisting of:
We financed the repurchase of these notes, including the payment of accrued interest and other costs incurred, from net proceeds
received from the $3.0 billion notes issuance on January 16, 2014. In connection with retiring this debt, during the first six months of
2014, we recorded a $493 million loss on extinguishment of debt within interest expense related to the amount we paid to retire the
debt in excess of its carrying value and from recognizing unamortized discounts and deferred financing costs in earnings at the time
of the debt extinguishment. The loss on extinguishment is included in long-term debt repayments in the 2014 consolidated
statement of cash flows. We also recognized $2 million in interest expense related to interest rate cash flow hedges that were
deferred in accumulated other comprehensive losses and recognized into earnings over the life of the debt. Upon extinguishing the
debt, the deferred cash flow hedge amounts were recorded in earnings.
76
As of December 31,
2014
2013
(in millions)
U.S. dollar notes, 0.76% to 7.00% (weighted-average effective rate 5.13%),
due through 2040
$
10,873
$
9,907
Euro notes, 0.58% to 6.25% (weighted-average effective rate 3.03%),
due through 2021
3,918
4,448
Pound sterling notes, 7.25% (weighted-average effective rate 5.44%),
due through 2018
573
1,116
Capital leases and other obligations
31
14
Total
15,395
15,485
Less current portion of long-term debt
(1,530
)
(1,003
)
Long-term debt
$
13,865
$
14,482
2015
2016
2017
2018
2019
Thereafter
Total
$1,530 $1,763 $1,498 $1,697 $1,250 $7,667 $15,405
•
$
393 million of our 7.000% Notes due in August 2037
•
$
382 million of our 6.875% Notes due in February 2038
•
$
250 million of our 6.875% Notes due in January 2039
• $535 million of our 6.500% Notes due in February 2040