Long-Term Debt Maturities

Entity Registrant Name JOHNSON & JOHNSON
CIK 0000200406
Accession number 0000200406-14-000033
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/200406/000020040614000033/jnj-20131229.xml
Fiscal year end --12-29
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2013-12-29
Current year-to-date income statement start date 2012-12-31
Commentary Filer does report the total of debt and uses the correct concept, us-gaap:LongTermDebt, however they do so using dimensions and do so incorrectly.
Level 1 (Note level) Text Block concept us-gaap:DebtDisclosureTextBlock
Borrowings
The components of long-term debt are as follows:
(Dollars in Millions)
 
2013
  
Effective Rate %
  
2012
  
Effective Rate %
 
0.70% Notes due 2013
 
$
—

 
—
%
 
500

 
0.75
 
3.80% Debentures due 2013
 
—

  
—

  
500

  
3.82
 
3 month LIBOR+0% FRN due 2013
 
—

 
—

 
500

 
0.31
 
3 month LIBOR+0.09% FRN due 2014
 
750

 
0.33

 
750

 
0.40
 
1.20% Notes due 2014
 
999

 
1.24

 
999

 
1.24
 
2.15% Notes due 2016
 
898

 
2.22

 
898

 
2.22
 
3 month LIBOR+0.07% FRN due 2016
 
800

 
0.31

 
—

 
—
 
0.70% Notes due 2016
 
397

 
0.74

 
—

 
—
 
5.55% Debentures due 2017
 
1,000

  
5.55

  
1,000

  
5.55
 
5.15% Debentures due 2018
 
898

  
5.15

  
898

  
5.15
 
1.65% Notes due 2018
 
589

 
1.70

 
—

 
—
 
4.75% Notes due 2019 (1B Euro 1.3683) (2)/ (1B Euro 1.3275) (3)
 
1,363

(2) 
5.83

  
1,321

(3) 
5.83
 
3% Zero Coupon Convertible Subordinated Debentures due 2020
 
179

  
3.00

  
205

  
3.00
 
2.95% Debentures due 2020
 
542

  
3.15

  
542

  
3.15
 
3.55% Notes due 2021
 
446

 
3.67

 
446

 
3.67
 
6.73% Debentures due 2023
 
250

  
6.73

  
250

  
6.73
 
3.375% Notes due 2023
 
550

 
3.38

 
—

 
—
 
5.50% Notes due 2024 (500MM GBP 1.6414)(2)/(500MM GBP 1.6169) (3)
 
816

(2) 
6.75

  
803

(3) 
6.75
 
6.95% Notes due 2029
 
296

  
7.14

  
296

  
7.14
 
4.95% Debentures due 2033
 
500

  
4.95

  
500

  
4.95
 
4.375% Notes due 2033
 
646

 
4.42

 
—

 
—
 
5.95% Notes due 2037
 
995

  
5.99

  
995

  
5.99
 
5.85% Debentures due 2038
 
700

  
5.86

  
700

  
5.86
 
4.50% Debentures due 2040
 
539

  
4.63

  
539

  
4.63
 
4.85% Notes due 2041
 
298

 
4.89

 
298

 
4.89
 
4.50% Notes due 2043
 
499

 
4.52

 
—

 
—
 
Other
 
147

  
—

  
61

  
—
 
 
 
15,097

(4) 
4.00

(1) 
13,001

(4) 
4.14
(1 
) 
Less current portion
 
1,769

  
 

  
1,512

  
 
 
 
 
$
13,328

  
 

  
11,489

  
 
 

(1) 
Weighted average effective rate.
(2) 
Translation rate at December 29, 2013.
(3) 
Translation rate at December 30, 2012.
(4) 
The excess of the fair value over the carrying value of debt was $1.4 billion in 2013 and $2.2 billion in 2012.

Fair value of the non-current debt was estimated using market prices, which were corroborated by quoted broker prices and significant other observable inputs.
The Company has access to substantial sources of funds at numerous banks worldwide. In September 2013, the Company secured a new 364-day Credit Facility. Total credit available to the Company approximates $10 billion, which expires on September 18, 2014. Interest charged on borrowings under the credit line agreements is based on either bids provided by banks, the prime rate or London Interbank Offered Rates (LIBOR), plus applicable margins. Commitment fees under the agreements are not material.
Throughout 2013, the Company continued to have access to liquidity through the commercial paper market. Short-term borrowings and the current portion of long-term debt amounted to approximately $4.9 billion at the end of 2013, of which $2.5 billion was borrowed under the Commercial Paper Program. The remainder principally represents local borrowing by international subsidiaries.
The Company has a shelf registration with the U.S. Securities and Exchange Commission that enables the Company to issue debt securities and warrants to purchase debt securities on a timely basis. The Company issued bonds in December 2013 for a total of $3.5 billion for general corporate purposes.

Aggregate maturities of long-term obligations commencing in 2014 are:
(Dollars in Millions)
 
 
 
 
 
 
 
 
2014
 
2015
 
2016
 
2017
 
2018
 
After 2018
$1,769
 
76
 
2,096
 
1,007
 
1,526
 
8,623
Level 4 (Note level) Text Block concept - Maturities of Long Term Debt us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Aggregate maturities of long-term obligations commencing in 2014 are:
(Dollars in Millions)
 
 
 
 
 
 
 
 
2014
 
2015
 
2016
 
2017
 
2018
 
After 2018
$1,769
 
76
 
2,096
 
1,007
 
1,526
 
8,623
Level 4 (Note level) Text Block concept - Debt Instruments us-gaap:ScheduleOfDebtInstrumentsTextBlock
The components of long-term debt are as follows:
(Dollars in Millions)
 
2013
  
Effective Rate %
  
2012
  
Effective Rate %
 
0.70% Notes due 2013
 
$
—

 
—
%
 
500

 
0.75
 
3.80% Debentures due 2013
 
—

  
—

  
500

  
3.82
 
3 month LIBOR+0% FRN due 2013
 
—

 
—

 
500

 
0.31
 
3 month LIBOR+0.09% FRN due 2014
 
750

 
0.33

 
750

 
0.40
 
1.20% Notes due 2014
 
999

 
1.24

 
999

 
1.24
 
2.15% Notes due 2016
 
898

 
2.22

 
898

 
2.22
 
3 month LIBOR+0.07% FRN due 2016
 
800

 
0.31

 
—

 
—
 
0.70% Notes due 2016
 
397

 
0.74

 
—

 
—
 
5.55% Debentures due 2017
 
1,000

  
5.55

  
1,000

  
5.55
 
5.15% Debentures due 2018
 
898

  
5.15

  
898

  
5.15
 
1.65% Notes due 2018
 
589

 
1.70

 
—

 
—
 
4.75% Notes due 2019 (1B Euro 1.3683) (2)/ (1B Euro 1.3275) (3)
 
1,363

(2) 
5.83

  
1,321

(3) 
5.83
 
3% Zero Coupon Convertible Subordinated Debentures due 2020
 
179

  
3.00

  
205

  
3.00
 
2.95% Debentures due 2020
 
542

  
3.15

  
542

  
3.15
 
3.55% Notes due 2021
 
446

 
3.67

 
446

 
3.67
 
6.73% Debentures due 2023
 
250

  
6.73

  
250

  
6.73
 
3.375% Notes due 2023
 
550

 
3.38

 
—

 
—
 
5.50% Notes due 2024 (500MM GBP 1.6414)(2)/(500MM GBP 1.6169) (3)
 
816

(2) 
6.75

  
803

(3) 
6.75
 
6.95% Notes due 2029
 
296

  
7.14

  
296

  
7.14
 
4.95% Debentures due 2033
 
500

  
4.95

  
500

  
4.95
 
4.375% Notes due 2033
 
646

 
4.42

 
—

 
—
 
5.95% Notes due 2037
 
995

  
5.99

  
995

  
5.99
 
5.85% Debentures due 2038
 
700

  
5.86

  
700

  
5.86
 
4.50% Debentures due 2040
 
539

  
4.63

  
539

  
4.63
 
4.85% Notes due 2041
 
298

 
4.89

 
298

 
4.89
 
4.50% Notes due 2043
 
499

 
4.52

 
—

 
—
 
Other
 
147

  
—

  
61

  
—
 
 
 
15,097

(4) 
4.00

(1) 
13,001

(4) 
4.14
(1 
) 
Less current portion
 
1,769

  
 

  
1,512

  
 
 
 
 
$
13,328

  
 

  
11,489

  
 
 

(1) 
Weighted average effective rate.
(2) 
Translation rate at December 29, 2013.
(3) 
Translation rate at December 30, 2012.
(4) 
The excess of the fair value over the carrying value of debt was $1.4 billion in 2013 and $2.2 billion in 2012.

Level 4 Details Key Concepts: Long-term Debt Maturities

Description Fact value US GAAP XBRL Concept
Year 1 (Current portion) 1,769,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
Year 2 76,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
Year 3 2,096,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
Year 4 1,007,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
Year 5 1,526,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
Thereafter 8,623,000,000 us-gaap:LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
Total Long-term Debt 15,097,000,000
CHECK 0

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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Current portion 4,900,000,000 us-gaap:DebtCurrent
Noncurrent portion 13,328,000,000 us-gaap:LongTermDebtNoncurrent
Total Long-Term Debt 15,097,000,000
CHECK -3,131,000,000

*

*

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