Indebtedness (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Long-Term Debt

At June 30, 2014 and December 31, 2013, PMI’s long-term debt consisted of the following:

(in millions)	June 30, 2014		December 31, 2013
U.S. dollar notes, 0.277% to 6.375% (average interest rate 3.878%), due through 2043	$	15,259	$	16,500
Foreign currency obligations:
Euro notes, 1.750% to 5.875% (average interest rate 3.104%), due through 2033	10,253		7,303
Swiss franc notes, 0.750% to 2.000% (average interest rate 1.217%), due through 2024	1,871		1,289
Other (average interest rate 3.644%), due through 2024	185		186
	27,568		25,278
Less current portion of long-term debt	407		1,255
	$	27,161	$	24,023

Debt Issuances During the Current Period

PMI's debt issuances in the first six months of 2014 were as follows:

(in millions)
Type		Face Value (d)	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
EURO notes	(b)	€500 (approximately $697)	2.875	%	May 2014	May 2029
Swiss franc notes	(c)	CHF275 (approximately $311)	0.750	%	May 2014	December 2019
Swiss franc notes	(b)	CHF250 (approximately $283)	1.625	%	May 2014	May 2024

^(a) Interest on these notes is payable annually in arrears beginning in March 2015.

^(b) Interest on these notes is payable annually in arrears beginning in May 2015.

^(c) Interest on these notes is payable annually in arrears beginning in December 2014.

^(d) 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 June 30, 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