Union Pacific 2009 Annual Report Download - page 86

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86
13. Debt
Total debt as of December 31, 2009 and 2008, net of interest rate swaps designated as fair value hedges,
is summarized below:
Millions of Dollars 2009 2008
Notes and debentures, 3.0% to 7.9% due through 2054 [a] $ 7,277 $ 6,934
Capitalized leases, 4.7% to 9.5% due through 2028 2,061 1,270
Equipment obligations, 6.2% to 7.8% due through 2031 219 255
Tax-exempt financings, 2.5% to 5.7% due through 2026 182 185
Commercial paper - 100
Floating rate term loan, due through 2013 100 100
Medium-term notes, 9.2% to 10.0% due through 2020 61 61
Mortgage bonds, 4.8% due through 2030 58 58
Other - 76
Unamortized discount (110) (112)
Total debt [a] 9,848 8,927
Less current portion (212) (320)
Total long-term debt $ 9,636 $ 8,607
[a] 2009 and 2008 included a write-up of $15 million and $19 million, respectively, due to market value adjustments for
debt with qualifying fair value hedges that are recorded on the Consolidated Statements of Financial Position.
Debt Maturities – The following table presents aggregate debt maturities as of December 31, 2009,
excluding market value adjustments.
Millions of Dollars
2010 $ 532
2011 619
2012 824
2013 775
2014 798
Thereafter 6,300
Total debt $ 9,848
As of December 31, 2009, we have reclassified as long-term debt approximately $320 million of debt due
within one year that we intend to refinance. This reclassification reflects our ability and intent to refinance
any short-term borrowings and certain current maturities of long-term debt on a long-term basis. At
December 31, 2008, we reclassified as long-term debt approximately $400 million of debt due within one
year that we intended to refinance at that time.
Mortgaged Properties – Equipment with a carrying value of approximately $3.4 billion and $2.7 billion
at December 31, 2009 and 2008, respectively, serves as collateral for capital leases and other types of
equipment obligations in accordance with the secured financing arrangements utilized to acquire such
railroad equipment.