O'Reilly Auto Parts 2014 Annual Report Download - page 44

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FORM 10-K
37
We had outstanding fixed rate debt of $1.40 billion and $1.40 billion as of December 31, 2014 and 2013, respectively. The fair value of
our fixed rate debt was estimated at $1.53 billion and $1.41 billion as of December 31, 2014 and 2013, respectively, which was determined
by reference to quoted market prices.
We invest certain of our excess cash balances in short-term, highly-liquid instruments with maturities of 90 days or less. We do not expect
any material losses from our invested cash balances and we believe that our interest rate exposure is minimal. As of December 31, 2014,
our cash and cash equivalents totaled $251 million.