Debt

The following is a summary of the Company's debt:



(in millions)	Interest Rates	Fiscal Year Maturities	December 31, 2018		March 31, 2018
Short-term debt and current maturities of long-term debt
Euro-denominated commercial paper⁽¹⁾	(0.1)% - 0.02%⁽²⁾	2019	$	800	$	863
Current maturities of long-term debt	Various	2019 - 2020	240		439
Current maturities of capitalized lease liabilities	1.0% - 12.0%	2019 - 2020	540		616
Short-term debt and current maturities of long-term debt			$	1,580	$	1,918

Long-term debt, net of current maturities
GBP term loan	1.3% - 1.5%⁽³⁾	2019	$	—	$	260
EUR term loan	1.75%⁽⁴⁾	2020	—		493
AUD term loan	2.72%⁽⁵⁾	2021	563		—
AUD term loan	2.9% - 3.3%⁽⁶⁾	2022	—		210
GBP term loan	1.60%⁽⁷⁾	2022	571		—
EUR term loan	0.9%⁽⁸⁾	2022	—		187
USD term loan	3.1% - 3.3%⁽⁹⁾	2022	—		899
$500 million Senior notes	2.875%	2020	501		502
$500 million Senior notes	3.0% - 3.3⁽¹⁰⁾	2021	497		646
$274 million Senior notes	4.45%	2023	277		278
$171 million Senior notes	4.45%	2023	172		173
$500 million Senior notes	4.25%	2025	507		507
£250 million Senior notes	2.75%	2025	315		346
€650 million Senior notes	1.75%	2026	738		—
$500 million Senior notes	4.75%	2028	509		509
$234 million Senior notes	7.45%	2030	275		277
Lease credit facility	2.8% - 3.5%	2019 - 2023	30		46
Capitalized lease liabilities	1.0% - 12.0%	2019 - 2024	1,182		1,235
Borrowings for assets acquired under long-term financing	2.3% - 4.1%	2019 - 2024	451		405
Mandatorily redeemable preferred stock outstanding	6.0%	2023	62		61
Other borrowings	0.5% - 7.4%	2019 - 2022	110		113
Long-term debt			6,760		7,147
Less: current maturities			780		1,055
Long-term debt, net of current maturities			$	5,980	$	6,092


⁽¹⁾	At DXC's option, DXC can borrow up to a maximum of €1 billion.


⁽²⁾	Approximate weighted average interest rate.

⁽³⁾ Three-month LIBOR rate plus 0.65%.

⁽⁴⁾ Three-month EURIBOR rate plus 1.75%.

⁽⁵⁾ Variable interest rate equal to the bank bill swap bid rate for a one-, two-, three- or six-month interest period plus 0.60% to 0.95% based on the published credit ratings of DXC.

⁽⁶⁾ Variable interest rate equal to the bank bill swap bid rate for a one-, two-, three- or six-month interest period plus 0.95% to 1.45% based on the published credit ratings of DXC.

⁽⁷⁾ Three-month LIBOR rate plus 0.80%.

⁽⁸⁾ At DXC’s option, the EUR term loan bears interest at the Eurocurrency Rate for a one-, two-, three-, or six-month interest period, plus a margin of between 0.75% and 1.35%, based on published credit ratings of DXC.

⁽⁹⁾ At DXC’s option, the USD term loan bears interest at the Eurocurrency Rate for a one-, two-, three-, or six-month interest period, plus a margin of between 1.00% and 1.75%, based on published credit ratings of DXC or the Base Rate plus a margin of between 0.00% and 0.75%, based on published credit ratings of DXC.

⁽¹⁰⁾ Three-month LIBOR plus 0.95%.

Senior Notes and Term Loans

Interest on the Company's term loans is payable monthly or quarterly in arrears at the election of the borrowers. The Company fully and unconditionally guarantees term loans issued by its 100% owned subsidiaries. Interest on the Company's senior notes is payable semi-annually in arrears, except for interest on the £250 million Senior Notes due 2025 and €650 million Senior Notes due 2026 which is payable annually in arrears, and interest on the $500 million Senior Notes due 2021 which is payable quarterly in arrears. Generally, the Company's notes are redeemable at the Company's discretion at the then-applicable redemption premium plus accrued interest.