December 31, 2013 | December 31, 2012 | ||||||||||||
Amount | Average Rate 1 | Amount | Average Rate1 | ||||||||||
U.S. dollar notes due 2014–2093 | $ | 17,427 | 1.8 | % | $ | 13,407 | 1.7 | % | |||||
U.S. dollar debentures due 2017–2098 | 2,191 | 3.9 | 2,207 | 3.7 | |||||||||
U.S. dollar zero coupon notes due 20202 | 138 | 8.4 | 135 | 8.4 | |||||||||
Other, due through 20983 | 370 | 4.0 | 291 | 4.4 | |||||||||
Fair value adjustment4 | 52 | N/A | 273 | N/A | |||||||||
Total5,6 | $ | 20,178 | 2.2 | % | $ | 16,313 | 2.1 | % | |||||
Less current portion | 1,024 | 1,577 | |||||||||||
Long-term debt | $ | 19,154 | $ | 14,736 | |||||||||
1 | These rates represent the weighted-average effective interest rate on the balances outstanding as of year end, as adjusted for the effects of interest rate swap agreements as well as fair value adjustments, if applicable. Refer to Note 5 for a more detailed discussion on interest rate management. |
2 | This amount is shown net of unamortized discounts of $33 million and $36 million as of December 31, 2013 and 2012, respectively. |
3 | As of December 31, 2013, the amount shown includes $167 million of debt instruments that are due through 2022. |
4 | Refer to Note 5 for additional information about our fair value hedging strategy. |
5 | As of December 31, 2013 and 2012, the fair value of our long-term debt, including the current portion, was $20,352 million and $17,157 million, respectively. The fair value of our long-term debt is estimated based on quoted prices for those or similar instruments. |
6 | The above notes and debentures include various restrictions, none of which is presently significant to our Company. |