Borrowings (Tables)

12 Months Ended

Oct. 03, 2015

Borrowings including Impact of Interest Rate Swaps Designated as Hedges

The Company’s borrowings at October 3, 2015 and September 27, 2014, including the impact of interest rate and cross-currency swaps, are summarized below:



					2015
	2015		2014		Stated Interest Rate ⁽¹⁾		Pay Floating Interest rate and Cross- Currency Swaps ⁽²⁾		Effective Interest Rate ⁽³⁾		Swap Maturities
Commercial paper	$	2,430	$	50	—		$	—	0.19	%
U.S. medium-term notes ⁽⁴⁾	13,873		13,668		2.95	%	6,425		2.31	%	2016-2023
Foreign currency denominated debt	447		530		4.94	%	249		4.74	%	2017
Capital Cities/ABC debt	108		110		8.75	%	—		6.01	%
Other ⁽⁵⁾	159		184				—
	17,017		14,542		2.62	%	6,674		2.10	%
International Theme Parks borrowings	319		253		3.30	%	—		3.41	%
Total borrowings	17,336		14,795		2.63	%	6,674		2.12	%
Less current portion	4,563		2,164		1.39	%	1,250		0.73	%
Total long-term borrowings	$	12,773	$	12,631			$	5,424


⁽¹⁾	The stated interest rate represents the weighted-average coupon rate for each category of borrowings. For floating rate borrowings, interest rates are the rates in effect at October 3, 2015; these rates are not necessarily an indication of future interest rates.


⁽²⁾	Amounts represent notional values of interest rate and cross-currency swaps outstanding as of October 3, 2015.


⁽³⁾	The effective interest rate includes the impact of existing and terminated interest rate and cross-currency swaps, purchase accounting adjustments and debt issuance discounts and costs.


⁽⁴⁾	Includes debt issuance costs totaling $46 million and $45 million at October 3, 2015 and September 27, 2014, respectively.


⁽⁵⁾	Includes market value adjustments for debt with qualifying hedges totaling $131 million and $74 million at October 3, 2015 and September 27, 2014, respectively.

Schedule of Commercial Paper

At October 3, 2015 and September 27, 2014, the Company had $2,430 million and $50 million, respectively, of commercial paper borrowings outstanding and had bank facilities with a syndicate of lenders to support commercial paper borrowings as follows:



	Committed Capacity		Capacity Used		Unused Capacity
Facility expiring March 2016	$	1,500	$	—	$	1,500
Facility expiring June 2017	2,250		—		2,250
Facility expiring March 2019	2,250		—		2,250
Total	$	6,000	$	—	$	6,000

Commercial Paper Activity

Commercial paper activity is as follows:



	Commercial paper with original maturities less than three months, net⁽¹⁾		Commercial paper with original maturities greater than three months			Total
Balance at Sept 28, 2013	$	—	$	—		$	—
Additions	50		2,600			2,650
Payments	—		(2,600		)	(2,600		)
Other Activity	—		—			—
Balance at Sept 27, 2014	$	50	$	—		$	50
Additions	2,277		3,019			5,296
Payments	—		(2,920		)	(2,920		)
Other Activity	3		1			4
Balance at Oct 3, 2015	$	2,330	$	100		$	2,430

⁽¹⁾ Borrowings and reductions of borrowings are reported net.

Total Borrowings Excluding Market Value Adjustments, Scheduled Maturities

Total borrowings, excluding market value adjustments and debt issuance costs, have the following scheduled maturities:



	Before International Theme Parks Consolidation		International Theme Parks		Total
2016	$	4,526	$	24	$	4,550
2017	2,097		24		2,121
2018	1,800		25		1,825
2019	1,501		30		1,531
2020	860		32		892
Thereafter	6,148		184		6,332
	$	16,932	$	319	$	17,251