Borrowings (Tables)

12 Months Ended

Sep. 27, 2014

Borrowings including Impact of Interest Rate Swaps Designated as Hedges

The Company’s borrowings at September 27, 2014 and September 28, 2013, including the impact of interest rate and cross-currency swaps, are summarized below:



					2014
	2014		2013		Stated Interest Rate ⁽¹⁾		Pay Floating Interest rate and Cross- Currency Swaps ⁽²⁾		Effective Interest Rate ⁽³⁾		Swap Maturities
Commercial paper	$	50	$	—	—		$	—	0.09	%
U.S. medium-term notes	13,713		13,155		2.73	%	6,800		2.10	%	2015 - 2023
Foreign currency denominated debt	530		509		5.71	%	294		5.19	%	2017
Capital Cities/ABC debt	110		111		8.75	%	—		6.02	%
Other ⁽⁴⁾	184		238		—		—		—
	14,587		14,013		2.88	%	7,094		2.24	%
HKDL borrowings	253		275		4.13	%	—		3.30	%
Total borrowings	14,840		14,288		2.91	%	7,094		2.27	%
Less current portion	2,164		1,512		1.70	%	—		1.51	%
Total long-term borrowings	$	12,676	$	12,776			$	7,094


⁽¹⁾	The stated interest rate represents the weighted-average coupon rate for each category of borrowings. For floating rate borrowings, interest rates are the rates in effect at September 27, 2014; these rates are not necessarily an indication of future interest rates.


⁽²⁾	Amounts represent notional values of interest rate and cross-currency swaps outstanding as of September 27, 2014.


⁽³⁾	The effective interest rate includes the impact of existing and terminated interest rate and cross-currency swaps, purchase accounting adjustments and debt issuance discounts and costs.


⁽⁴⁾	Includes market value adjustments for debt with qualifying hedges totaling $74 million and $117 million at September 27, 2014 and September 28, 2013, respectively.

Schedule of Commercial Paper

At September 27, 2014, the Company had $50 million of commercial paper debt outstanding and had bank facilities with a syndicate of lenders to support commercial paper borrowings as follows:



	Committed Capacity		Capacity Used		Unused Capacity
Facility expiring March 2015	$	1,500	$	—	$	1,500
Facility expiring June 2017	2,250		—		2,250
Facility expiring March 2019	2,250		—		2,250
Total	$	6,000	$	—	$	6,000

Total Borrowings Excluding Market Value Adjustments, Scheduled Maturities

Total borrowings excluding market value adjustments, have the following scheduled maturities:



	Before International Theme Parks Consolidation		International Theme Parks		Total
2015	$	2,160	$	—	$	2,160
2016	2,015		23		2,038
2017	2,140		24		2,164
2018	1,297		25		1,322
2019	1,501		30		1,531
Thereafter	5,400		151		5,551
	$	14,513	$	253	$	14,766