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this is part of financial statement. how are they measuring the bonds, based on amortized cost or fair value? 105 20. LONG-TERM BORROWINGS Long-term borrowings
this is part of financial statement. how are they measuring the bonds, based on amortized cost or fair value?
105 20. LONG-TERM BORROWINGS Long-term borrowings at October 29, 2017 and October 30, 2016 consisted of the following in millions of dollars: 2017 2016 Equipment Operations U.S. dollar notes and debentures: 4.375% notes due 2019 $ 750 $ 750 8-1/2% debentures due 2022. 105 2.60% notes due 2022. 1,000 1,000 6.55% debentures due 2028 200 200 5.375% notes due 2029 500 500 8.10% debentures due 2030 250 250 7.125% notes due 2031 300 300 3.90% notes due 2042. 1,250 1,250 Euro notes: Medium-term notes due 2020 2023: (principal 850 - 2017) Average interest rate of 3% - 2017 990 Other notes 166 231 Less debt issuance costs 20 21 Total. 5,491 4,565 Financial Services Notes and debentures: Medium-term notes due 2018 2027: (principal $18,678 - 2017, $17,203 - 2016) Average interest rates of 2.0% - 2017, 1.7% - 2016.... 18,601* 17,434* 2.75% senior note due 2022: ($500 principal) Swapped $500 to variable interest rate of 2.0% - 2017, 1.6% - 2016.. 502* 519* Other notes. 1,339 1,221 Less debt issuance costs 42 36 Total 20,400 19,138 Long-term borrowings** $25,891 $23,703 * Includes unamortized fair value adjustments related to interest rate swaps. ** All interest rates are as of year end. The approximate principal amounts of the equipment operations' long-term borrowings maturing in each of the next five years in millions of dollars are as follows: 2018 $154, 2019 $873, 2020 $451, 2021 $4 and 2022 $1,108. The approximate principal amounts of the financial services' long-term borrowings maturing in each of the next five years in millions of dollars are as follows: 2018 $6,050, 2019 $5,383, 2020 $5,056, 2021 $2,486, and 2022 $3,502Step by Step Solution
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