10. Long-term Debt and Debt Facility Agreements

Long-term Debt consists of the following:

(Stated in millions)

	2016		2015
4.00% Senior Notes due 2025	$	1,740	$	1,741
3.30% Senior Notes due 2021		1,594		1,597
3.00% Senior Notes due 2020		1,591		1,591
3.65% Senior Notes due 2023		1,491		1,496
2.35% Senior Notes due 2018		1,297		1,297
4.20% Senior Notes due 2021		1,100		1,100
2.40% Senior Notes due 2022		996		999
3.63% Senior Notes due 2022		845		845
0.63% Guaranteed Notes due 2019		622		-
1.50% Guaranteed Notes due 2019 ⁽¹⁾		536		566
6.38% Notes due 2018 ⁽²⁾		297		-
7.00% Notes due 2038 ⁽²⁾		214		-
4.50% Notes due 2021⁽²⁾		137		-
5.95% Notes due 2041⁽²⁾		116		-
3.60% Notes due 2022 ⁽²⁾		110		-
5.13% Notes due 2043⁽²⁾		99		-
4.00% Notes due 2023 ⁽²⁾		83		-
3.70% Notes due 2024⁽²⁾		56		-
1.25% Senior Notes due 2017		-		1,000
1.90% Senior Notes due 2017		-		499
Commercial paper borrowings		2,421		1,000
Other		1,118		711
	$	16,463	$	14,442

⁽¹⁾ Schlumberger maintains a €5.0 billion Guaranteed Euro Medium Term Note program that provides for the issuance of various types of debt instruments such as fixed or floating rate notes in euro, US dollar or other currencies. Schlumberger issued €0.5 billion 1.50% Guaranteed Notes due 2019 under this program in 2013.

⁽²⁾ Represents long-term fixed rate debt obligations assumed in connection with the acquisition of Cameron, net of amounts repurchased subsequent to the closing of the transaction.

Schlumberger Limited fully and unconditionally guarantees the securities issued by certain of its subsidiaries, including securities issued by Schlumberger Investment SA, a wholly-owned finance subsidiary of Schlumberger.

At December 31, 2016, Schlumberger had separate committed debt facility agreements aggregating $6.6 billion with commercial banks, of which $4.0 billion was available and unused. This included $6.3 billion of committed facilities which support commercial paper programs in the United States and Europe, of which $1.0 billion matures in February 2017, $1.8 billion matures in July 2018, $1.5 billion matures in November 2020, and $2.0 billion matures in February 2021. Interest rates and other terms of borrowing under these lines of credit vary from country to country.

Commercial paper borrowings are classified as long-term debt to the extent they are backed up by available and unused committed credit facilities maturing in more than one year and to the extent it is Schlumberger’s intent to maintain these obligations for longer than one year. Borrowings under the commercial paper program at December 31, 2016 were $2.6 billion, of which $2.4 billion was classified within Long-term debt and $0.2 billion was classified in Long-term debt – current portion in the Consolidated Balance Sheet. At December 31, 2015, borrowings under the commercial paper program were $2.4 billion, of which $1.0 billion was classified within Long-term debt and $1.4 billion was classified in Long-term debt – current portion in the Consolidated Balance Sheet.

The weighted average interest rate on variable rate debt as of December 31, 2016 was 1.7%.

Long-term Debt as of December 31, 2016, is due as follows: $2.0 billion in 2018, $1.3 billion in 2019, $2.6 billion in 2020, $4.8 billion in 2021, $2.0 billion in 2022, $1.6 billion in 2023, $1.8 billion in 2025 and $0.4 billion thereafter.

The fair value of Schlumberger’s Long-term Debt at December 31, 2016 and December 31, 2015 was $16.8 billion and $14.4 billion, respectively, and was estimated based on quoted market prices.