Indebtedness (Tables)

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Long-Term Debt

At March 31, 2014 and December 31, 2013, PMI’s long-term debt consisted of the following:

(in millions)	March 31, 2014		December 31, 2013
U.S. dollar notes, 0.284% to 6.375% (average interest rate 3.878%), due through 2043	$	15,258	$	16,500
Foreign currency obligations:
Euro notes, 1.750% to 5.875% (average interest rate 3.120%), due through 2033	9,659		7,303
Swiss franc notes, 0.875% to 2.000% (average interest rate 1.240%), due through 2021	1,293		1,289
Other (average interest rate 3.615%), due through 2024	185		186
	26,395		25,278
Less current portion of long-term debt	406		1,255
	$	25,989	$	24,023

Debt Offerings During the Current Period

PMI's debt offerings in the first quarter of 2014 were as follows:

(in millions)
Type		Face Value	Interest Rate		Issuance	Maturity
EURO notes	(a)	€750 (approximately $1,029)	1.875	%	March 2014	March 2021
EURO notes	(a)	€1,000 (approximately $1,372)	2.875	%	March 2014	March 2026

^(a) Interest on these notes is payable annually in arrears beginning in March 2015. U.S. dollar equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance.

Schedule of Committed Credit Facilities

At March 31, 2014, PMI's total committed credit facilities were as follows:

(in billions)

Type	Committed Credit Facilities
364-day revolving credit, expiring February 10, 2015	$	2.0
Multi-year revolving credit, expiring February 28, 2019	2.5
Multi-year revolving credit, expiring October 25, 2016	3.5
Total facilities	$	8.0