10. Long-term Debt and Debt Facility Agreements

Long-term Debt consists of the following:

(Stated in millions)

	2017		2016
4.00% Senior Notes due 2025	$	1,741	$	1,740
3.30% Senior Notes due 2021		1,595		1,594
3.00% Senior Notes due 2020		1,593		1,591
3.65% Senior Notes due 2023		1,492		1,491
4.20% Senior Notes due 2021		1,100		1,100
2.40% Senior Notes due 2022		996		996
3.63% Senior Notes due 2022		846		845
0.63% Guaranteed Notes due 2019		712		622
1.50% Guaranteed Notes due 2019 ⁽¹⁾		603		536
2.65% Senior Notes due 2022		598		-
2.20% Senior Notes due 2020		498		-
7.00% Notes due 2038 ⁽²⁾		212		214
4.50% Notes due 2021⁽²⁾		135		137
5.95% Notes due 2041⁽²⁾		115		116
3.60% Notes due 2022 ⁽²⁾		110		110
5.13% Notes due 2043⁽²⁾		99		99
4.00% Notes due 2023 ⁽²⁾		82		83
3.70% Notes due 2024⁽²⁾		56		56
2.35% Senior Notes due 2018		-		1,297
6.38% Notes due 2018 ⁽²⁾		-		297
Commercial paper borrowings		1,694		2,421
Other		598		1,118
	$	14,875	$	16,463

⁽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, 2017, Schlumberger had separate committed credit facility agreements aggregating $6.6 billion with commercial banks, of which $3.6 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 2018, $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, 2017 were $3.0 billion, of which $1.7 billion was classified within Long-term debt and $1.3 billion was classified in Short-term borrowings and current portion of long-term debt in the Consolidated Balance Sheet. At December 31, 2016, borrowings under the commercial paper program were $2.6 billion, of which $2.4 billion was classified within Long-term debt and $0.2 billion was classified in Short-term borrowings and current portion of long-term debt in the Consolidated Balance Sheet.

The weighted average interest rate on variable rate debt as of December 31, 2017 was 2.3%.

Long-term Debt as of December 31, 2017 is due as follows: $1.5 billion in 2019, $2.8 billion in 2020, $4.3 billion in 2021, $2.6 billion in 2022, $1.6 billion in 2023, $1.7 billion in 2025 and $0.4 billion thereafter.

The fair value of Schlumberger’s Long-term Debt at December 31, 2017 and December 31, 2016 was $15.2 billion and $16.8 billion, respectively, and was estimated based on quoted market prices.