Total long-term debt, excluding capital leases, at December 31, 2007, was $5,664. The company's long-term debt outstanding at year-end 2007 and 2006 was as follows:
|
At December 31 |
|
2007 |
2006 |
| 1 Guarantee of ESOP debt. |
| 2 Weighted-average interest rate at December 31, 2007. |
| 3.375% notes due 2008 |
$749 |
$738 |
| 5.5% notes due 2009 |
405 |
401 |
| 7.327% amortizing notes due 20141 |
213 |
213 |
| 8.625% debentures due 2032 |
161 |
199 |
| 8.625% debentures due 2031 |
108 |
199 |
| 7.5% debentures due 2043 |
85 |
198 |
| 8% debentures due 2032 |
81 |
148 |
| 9.75% debentures due 2020 |
57 |
250 |
| 8.875% debentures due 2021 |
46 |
150 |
| 8.625% debentures due 2010 |
30 |
150 |
| 3.85% notes due 2008 |
30 |
– |
| 3.5% notes due 2007 |
– |
1,996 |
| 7.09% notes due 2007 |
– |
144 |
| Medium-term notes, maturing from 2021 to 2038 (6.2%)2 |
64 |
210 |
| Fixed interest rate notes, maturing from 2008 to 2011 (8.2%)2 |
27 |
46 |
| Other foreign currency obligations (0.5%)2 |
17 |
23 |
| Other long-term debt (7.4%)2 |
59 |
66 |
| Total including debt due within one year |
2,132 |
5,131 |
| Debt due within one year |
(850) |
(2,176) |
| Reclassified from short-term debt |
4,382 |
4,450 |
| Total long-term debt |
$5,664 |
$7,405 |
Long-term debt of $2,132 matures as follows: 2008 – $850; 2009 – $431; 2010 – $65; 2011 – $48; 2012 – $33; and after 2012 – $705.
In 2007, $2,000 of Chevron Canada Funding Company bonds matured. The company also redeemed early $874 of Texaco Capital Inc. bonds, at an after-tax loss of approximately $175. In 2006, $510 in bonds were retired at maturity and $1,700 of Unocal debt was redeemed early at a $92 before-tax gain.