Notes payable and other borrowings are summarized below (in millions). The weighted average interest rates and maturity date ranges shown in the following tables are based on borrowings as of March 31, 2020.

	Weighted Average Interest Rate			March 31, 2020		December 31, 2019
Insurance and other:
Berkshire Hathaway Inc. (“Berkshire”):
U.S. Dollar denominated due 2020-2047		3.2	%	$	8,328	$	8,324
Euro denominated due 2021-2035		1.0	%		7,513		7,641
Japanese Yen denominated due 2024-2049		0.5	%		3,978		3,938
Berkshire Hathaway Finance Corporation (“BHFC”):
U.S. Dollar denominated due 2020-2049		4.1	%		8,828		8,679
Great Britain Pound denominated due 2039-2059		2.5	%		2,131		2,274
Other subsidiary borrowings due 2020-2045		4.1	%		5,241		5,262
Subsidiary short-term borrowings		3.0	%		1,467		1,472
				$	37,486	$	37,590

In March 2020, Berkshire repaid €1.0 billion of maturing senior notes and issued €1.0 billion of 0.0% senior notes due in 2025. Over the remainder of 2020, there are no other senior note maturities and in the first quarter of 2021, $1.6 billion of senior notes will mature. In April 2020, Berkshire issued ¥195.5 billion (approximately $1.8 billion) of senior notes with maturity dates ranging from 2023 to 2060 and a weighted average interest rate of 1.07%.

Borrowings of BHFC, a wholly owned finance subsidiary of Berkshire, consist of senior unsecured notes used to fund manufactured housing loans originated or acquired and equipment held for lease of certain subsidiaries. BHFC borrowings are fully and unconditionally guaranteed by Berkshire. In January 2020, BHFC repaid $350 million of maturing senior notes and in March 2020 issued $500 million of 1.85% senior notes due in 2030. Over the remainder of 2020, $550 million of BHFC senior notes will mature and in the first quarter of 2021, an additional $750 million of senior notes will mature.

The carrying values of Berkshire and BHFC non-U.S. Dollar denominated senior notes (€6.85 billion, £1.75 billion and ¥430 billion par) reflect the applicable foreign currency exchange rates as of the balance sheet dates. The effects of changes in foreign currency exchange rates during the period are recorded in earnings as a component of selling, general and administrative expenses. Changes in the exchange rates resulted in pre-tax gains of $228 million in the first quarter of 2020 and $170 million in the first quarter of 2019.

In addition to BHFC borrowings, Berkshire guaranteed approximately $1.2 billion of other subsidiary borrowings at March 31, 2020. Generally, Berkshire’s guarantee of a subsidiary’s debt obligation is an absolute, unconditional and irrevocable guarantee for the full and prompt payment when due of all payment obligations.

	Weighted Average Interest Rate			March 31, 2020		December 31, 2019
Railroad, utilities and energy:
Berkshire Hathaway Energy Company (“BHE”) and subsidiaries:
BHE senior unsecured debt due 2021-2050		4.5	%	$	11,459	$	8,581
Subsidiary and other debt due 2020-2064		4.5	%		30,035		30,772
Short-term borrowings		2.4	%		2,088		3,214
Burlington Northern Santa Fe and subsidiaries due 2020-2097		4.6	%		23,165		23,211
				$	66,747	$	65,778

BHE subsidiary debt represents amounts issued pursuant to separate financing agreements. Substantially all of the assets of certain BHE subsidiaries are, or may be, pledged or encumbered to support or otherwise secure debt. These borrowing arrangements generally contain various covenants, which pertain to leverage ratios, interest coverage ratios and/or debt service coverage ratios. During the first quarter of 2020, BHE and its subsidiaries issued new term debt of approximately $4.0 billion with maturity dates ranging from 2025 to 2050 and a weighted average interest rate of 3.75%. In April 2020, a BHE subsidiary issued $1.0 billion of term debt consisting of $400 million of 2.7% bonds due in 2030 and $600 million of 3.3% bonds due in 2051. In the first three months of 2020, BHE and its subsidiaries repaid $1.7 billion of debt and reduced short-term borrowings by approximately $1.1 billion. BHE subsidiary term debt maturities over the remainder of 2020 approximate $800 million.

BNSF’s borrowings are primarily senior unsecured debentures. In April 2020, BNSF issued $575 million of 3.05% senior unsecured debentures due in 2051. Over the remainder of 2020, approximately $450 million of senior unsecured debentures will mature. As of March 31, 2020, BNSF, BHE and their subsidiaries were in compliance with all applicable debt covenants. Berkshire does not guarantee any debt, borrowings or lines of credit of BNSF, BHE or their subsidiaries.

As of March 31, 2020, our subsidiaries had unused lines of credit and commercial paper capacity aggregating approximately $8.2 billion to support short-term borrowing programs and provide additional liquidity. Such unused lines of credit included approximately $6.8 billion related to BHE and its subsidiaries.