Notes payable and long-term debt consisted of the following:



	March 31, 2014				December 31, 2013
	Outstanding		Weighted Average Rate		Outstanding		Weighted Average Rate
Notes payable
Commercial paper ⁽¹⁾	$	32	0.1	%	$	65	0.1	%
Sigma-Aldrich Korea Limited credit facility, due June 30, 2014 ⁽²⁾	—		—		—		—
Sigma-Aldrich Japan GK credit facilities ⁽³⁾	—		—		—		—
Other short-term credit facilities ⁽⁴⁾	—		—		—		—
Total notes payable	$	32	0.1	%	$	65	0.1	%
Long-term debt
Senior notes, due November 1, 2020 ⁽⁵⁾	$	300	3.4	%	$	300	3.4	%
Total long-term debt	$	300	3.4	%	$	300	3.4	%

(1)

The Company has a $600 five-year revolving credit facility with a syndicate of banks in the U.S. that supports the Company's commercial paper program. The facility matures on May 10, 2018. At March 31, 2014 and December 31, 2013, the Company did not have any borrowings outstanding under the facility. However, the amount available under the facility is reduced by the amount of commercial paper outstanding. The facility contains financial covenants that require the maintenance of a ratio of consolidated debt to total capitalization of no more than 65.0 percent and an aggregate amount of subsidiary debt plus consolidated secured debt of no more than 25.0 percent of total net worth. The Company's total consolidated debt as a percentage of total capitalization and aggregate amount of subsidiary debt plus consolidated secured debt as a percentage of total net worth, as defined in the underlying credit agreement, was 10.6 percent and 0.0 percent, respectively, at March 31, 2014.


(2)	There were no outstanding borrowings under this facility, which had a total commitment of 20 billion Korean Won ($19), at March 31, 2014.


(3)	Sigma-Aldrich Japan GK has two credit facilities with a total commitment of 2 billion Japanese Yen ($19), with one facility expiring April 30, 2014 and the other representing a line of credit with no expiration. There were no borrowings under the facilities at March 31, 2014.


(4)	There were no borrowings under these facilities, which have total commitments in U.S. Dollar equivalents of $3, at March 31, 2014.

(5)

The Company has $300 of 3.375 percent Senior Notes due November 1, 2020. Interest on the notes is payable May 1 and November 1 of each year. The notes may be redeemed, in whole or in part at the Company’s option, (i) at any time at specific redemption prices plus accrued interest or (ii) three months prior to the maturity date at a redemption price equal to 100 percent of the principal amount plus accrued interest.