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Note 4: Short-term and Long-term Debt
| June 30 | 2009 | 2008 |
|---|---|---|
| Debt Due Within One Year | ||
| Current portion of long-term debt | $ 6,941 | $ 1,746 |
| Commercial paper | 5,027 | 9,748 |
| Floating rate notes | 4,250 | 1,500 |
| Other | 102 | 90 |
| Total | 16,320 | 13,084 |
The weighted average short-term interest rates were 2.0% and 2.7% as of June 30, 2009 and 2008, respectively, including the effects of interest rate swaps discussed in Note 5.
| June 30 | 2009 | 2008 |
|---|---|---|
|
(1) Debt issued by the ESOP is guaranteed by the Company and must be recorded as debt of the Company as discussed in Note 8. |
||
| Long-Term Debt | ||
| Floating rate note due July 2009 | $ 1,750 | $ 1,750 |
| Floating rate note due August 2009 | 1,500 | 1,500 |
| 6.88% USD note due September 2009 | 1,000 | 1,000 |
| Floating rate note due March 2010 | 750 | — |
| 2% JPY note due June 2010 | 522 | 467 |
| 4.88% EUR note due October 2011 | 1,411 | 1,573 |
| 3.38% EUR note due December 2012 | 1,975 | 2,203 |
| 4.60% USD note due January 2014 | 2,000 | — |
| 4.50% EUR note due May 2014 | 2,116 | 2,360 |
| 4.95% USD note due August 2014 | 900 | 900 |
| 3.50% USD note due February 2015 | 750 | — |
| 4.85% USD note due December 2015 | 700 | 700 |
| 5.13% EUR note due October 2017 | 1,552 | 1,731 |
| 4.70% USD note due February 2019 | 1,250 | — |
| 4.13% EUR note due December 2020 | 846 | 944 |
| 9.36% ESOP debentures due 2009–2021(1) | 896 | 934 |
| 4.88% EUR note due May 2027 | 1,411 | 1,573 |
| 6.25% GBP note due January 2030 | 832 | 993 |
| 5.50% USD note due February 2034 | 500 | 500 |
| 5.80% USD note due August 2034 | 600 | 600 |
| 5.55% USD note due March 2037 | 1,400 | 1,400 |
| Capital lease obligations | 392 | 407 |
| All other long-term debt | 2,540 | 3,792 |
| Current portion of long-term debt | (6,941) | (1,746) |
| Total | 20,652 | 23,581 |
Long-term weighted average interest rates were 4.9% and 4.5% as of June 30, 2009 and 2008, respectively, including the effects of interest rate swaps and net investment hedges discussed in Note 5.
The fair value of the long-term debt was $21,514 and $23,276 at June 30, 2009 and 2008, respectively. Long-term debt maturities during the next five years are as follows: 2010 — $6,941; 2011 — $47; 2012 — $1,474; 2013 — $2,013; and 2014 — $4,154.
The Procter & Gamble Company fully and unconditionally guarantees the registered debt and securities issued by its 100% owned finance subsidiaries.
Amounts in millions of dollars except per share amounts or as otherwise specified.
