 |
|
|
Notes to Consolidated Financial Statements
(Continued)
Note 9.
Long-Term Debt:
At December 31, 2003 and 2002, Altria Group, Inc.’s long-term debt consisted of the following: |  | |
|
|
|
|
 |
|
|
|
|
(in millions) |
|
2003 |
|
|
2002 |
|
|
|
|
Consumer products: |
|
|
|
|
|
|
|
|
 Short-term borrowings, reclassified as |
|
|
|
|
|
|
|
|
long-term debt |
|
$1,900 |
|
|
$3,598 |
|
|
|
Notes, 4.00% to 7.65% (average effective |
|
|
|
|
|
|
|
|
rate 5.88%), due through 2035 |
|
15,190 |
|
|
13,686 |
|
|
|
Debentures, 7.00% to 7.75% (average |
|
|
|
|
|
|
|
|
effective rate 8.37%), $950 million face |
|
|
|
|
|
|
|
|
amount, due through 2027 |
|
907 |
|
|
904 |
|
|
|
Foreign currency obligations: |
|
|
|
|
|
|
|
|
Euro, 4.50% to 5.63% (average effective |
|
|
|
|
|
|
|
|
rate 5.07%), due through 2008 |
|
2,427 |
|
|
2,083 |
|
|
|
Other foreign |
|
17 |
|
|
120 |
|
|
|
Other |
|
173 |
|
|
356 |
|
|
|
|
|
|
20,614 |
|
|
20,747 |
|
|
|
Less current portion of long-term debt |
|
(1,661 |
) |
|
(1,558 |
) |
|
|
|
|
|
$18,953 |
|
|
$19,189 |
|
|
|
|
Financial services |
|
|
|
|
|
|
|
|
Eurodollar bonds, 7.50%, due 2009 |
|
$499 |
|
|
$498 |
|
|
|
Swiss franc, 4.00%, due 2006 and 2007 |
|
1,345 |
|
|
1,223 |
|
|
|
Euro, 5.38% to 6.88% |
|
|
|
|
|
|
|
|
(average effective rate 6.12%), |
|
|
|
|
|
|
|
|
due through 2006 |
|
366 |
|
|
445 |
|
|
|
|
|
|
$2,210 |
|
|
$2,166 |
|
|
|
| | |
Aggregate maturities of long-term debt, excluding short-term borrowings reclassified as long-term debt, are as follows: | | |
Based on market quotes, where available, or interest rates currently available to Altria Group, Inc. for issuance of debt with similar terms and remaining maturities, the aggregate fair value of consumer products and financial services long-term debt, including the current portion of long-term debt, at December 31, 2003 and 2002, was $24.1 billion and $24.2 billion, respectively. | | |
|
