Previous Page page 39 of 52 Next Page

notes to the
financial statements
Our Debt Consists of the Following:
(dollars in millions)
Interest September 30,
Rate % Terms* 2003 2002

Notes payable to the Federal Financing Bank (FFB):
1.167 Payable February 5, 2004 $2,000 $     –    
1.195 Payable February 17, 2004 250 $     –    
1.084 Floating rate; payable August 15, 2004 1,750 $     –    
1.026** Short-term, floating rate, revolving credit facility; final maturity date May 6, 2005 and May 9, 2004 3,273 2,450   
1.729 Overnight revolving credit facility; final maturity date May 10, 2003 – $  214   
5.568 Payable December 31, 2002 – 200   
4.543 Payable February 28, 2003 – 200   
3.858 Payable July 31, 2003 – 750   
3.636 Payable February 15, 2005 – 300   
4.780 Payable November 15, 2005 – 200   
5.412 Payable November 15, 2005 – 500   
4.437 Payable May 15, 2006 – 250   
4.325 Payable November 15, 2006 – 200   
3.449 Payable May 15, 2007 – 250   
3.714 Payable May 15, 2007 – 250   
5.688 Payable August 15, 2007 – 400   
5.546 Payable August 15, 2007 – 150   
5.426 Payable May 15, 2008 – 200   
4.981 Payable May 15, 2008 – 200   
4.910 Payable May 15, 2008 – 200   
4.806 Payable November 17, 2008 – 300   
5.355 Payable August 16, 2010 – 500   
4.999 Payable February 15, 2011 – 200   
4.925 Payable August 15, 2011 – 200   
4.414 Payable February 15, 2012 – 250   
4.594 Payable August 15, 2012 – 250   
5.012 Payable February 15, 2012 – 200   
3.903 Payable August 15, 2011 – 250   
5.959 Payable November 15, 2027 – 400   
5.726 Payable November 15, 2027 – 100   
5.606 Payable November 15, 2027 – 300   
4.836 Payable November 15, 2027 – 100   
6.299 Payable May 15, 2030 – 250   
5.591 Payable May 15, 2030 – 250   
5.417 Payable February 18, 2031 – 200   
4.976 Payable February 18, 2031 – 250   
5.552 Payable February 18, 2031          –      200   
  7,273 11,114   
Mortgage Notes Payable:
5.00 to    Maturing from years 2004 through 2039 secured by land, buildings and equipment
9.25        with carrying amount of $6.7 million.           1           1   
  7,274 11,115   
Less current portion of debt    7,273 3,815   
$         1
$7,300   
* All debt is repurchasable at any time at a price determined by the current FFB rates.
** Weighted average interest rate; prior year's interest rate was 1.790%.