Debt (Tables)

9 Months Ended

Sep. 30, 2011

Debt and Capital Lease Obligations [Abstract]

Summary of Debt Instruments

The following table summarizes our debt as of the dates presented (in millions, except rates):

	September 30, 2011				December 31, 2010
	Principal Balance		Rates(A)		Principal Balance		Rates(A)
U.S. dollar commercial paper	$	—	—	%	$	145	0.3	%
U.S. dollar notes due 2013-2021(B)	2,289		2.6		1,393		2.4
Euro notes due 2017	468		3.1		468		3.1
Swiss franc notes due 2013(C)	220		3.8		214		3.8
Capital lease obligations(D)	57		n/a		66		n/a
Total third party debt(E) (F)	3,034				2,286
Less: current portion of third party debt	18				162
Third party debt, less current portion	$	3,016			$	2,124

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^(A)  These rates represent the weighted average interest rates or effective interest rates on the balances outstanding, as adjusted for the effects of interest rate swap agreements, if applicable.

^(B)  In February 2011, we issued $300 million, 4.5 percent notes due 2021, and $100 million, floating rate notes due 2014. In August 2011, we issued $250 million, 2.0 percent notes due 2016, and $250 million, 3.3 percent notes due 2021.

^(C)  Our Swiss franc notes due 2013 are guaranteed by Legacy CCE, as well as CCE.

^(D)  These amounts represent the present value of our minimum capital lease payments.

^(E)  At September 30, 2011, approximately $257 million of our outstanding third party debt was issued by our subsidiaries and guaranteed by CCE.

^(F)  The total fair value of our outstanding third party debt was $3.1 billion and $2.2 billion at September 30, 2011 and December 31, 2010, respectively. The fair value of our third party debt is determined using quoted market prices for publicly traded instruments, and for non-publicly traded instruments through a variety of valuation techniques depending on the specific characteristics of the debt instrument, taking into account credit risk.