The components of notes payable and their respective weighted-average interest rates at the end of the periods were as follows:

		May 26, 2013				May 27, 2012
In Millions		Notes Payable	Weighted- Average Interest Rate			Notes Payable	Weighted- Average Interest Rate
U.S. commercial paper	$	515.5	0.2	%	$	412.0	0.2	%
Financial institutions		84.2	13.0			114.5	10.0
Total	$	599.7	2.0	%	$	526.5	2.4	%

To ensure availability of funds, we maintain bank credit lines sufficient to cover our outstanding short-term borrowings. Commercial paper is a continuing source of short-term financing. We have commercial paper programs available to us in the United States and Europe. In April 2012, we entered into fee-paid committed credit lines, consisting of a $1.0 billion facility scheduled to expire in April 2015 and a $1.7 billion facility scheduled to expire in April 2017. We also have $332.8 million in uncommitted credit lines that support our foreign operations. As of May 26, 2013, there were no amounts outstanding on the fee-paid committed credit lines and $84.2 million was drawn on the uncommitted lines. The credit facilities contain several covenants, including a requirement to maintain a fixed charge coverage ratio of at least 2.5 times. We were in compliance with all credit facility covenants as of May 26, 2013.

In January 2013, we issued $750.0 million aggregate principal amount of fixed rate notes. The issuance consisted of $250.0 million 0.875 percent notes due January 29, 2016 and $500.0 million 4.15 percent notes due February 15, 2043. Interest on the fixed-rate notes is payable semi-annually in arrears. The fixed rate notes due January 29, 2016 may be redeemed in whole, or in part, at our option at any time for a specified make whole amount. The fixed rate notes due February 15, 2043 may be redeemed in whole, or in part, at our option at any time prior to August 15, 2042 for a specified make whole amount and any time on or after that date at par. These notes are senior unsecured obligations that include a change of control repurchase provision. The net proceeds were used to reduce our commercial paper borrowings.

In January 2013, we issued $250.0 million floating rate notes due January 29, 2016. The floating-rate notes bear interest equal to three-month LIBOR plus 30 basis points, subject to quarterly reset. Interest on the floating-rate notes is payable quarterly in arrears. The floating rate notes are not redeemable prior to maturity. These notes are senior unsecured obligations that include a change of control repurchase provision. The net proceeds were used to reduce our commercial paper borrowings.

In September 2012, we repaid $520.8 million of 5.65 percent notes. In February 2012, we repaid $1.0 billion of 6.0 percent notes. In November 2011, we issued $1.0 billion aggregate principal amount of 3.15 percent notes due December 15, 2021. The net proceeds were used to repay a portion of our notes due February 2012, reduce our commercial paper borrowings, and for general corporate purposes. Interest on these notes is payable semi-annually in arrears. These notes may be redeemed at our option at any time prior to September 15, 2021 for a specified make whole amount and any time on or after that date at par. These notes are senior unsecured, unsubordinated obligations that include a change of control repurchase provision.

As part of our acquisition of Yoplait S.A.S., we consolidated $457.9 million of primarily euro-denominated Euribor-based floating-rate bank debt. In December 2011, we refinanced this debt with $390.5 million of euro-denominated Euribor-based floating-rate bank debt due at various dates through December 15, 2014.

Certain of our long-term debt agreements contain restrictive covenants. As of May 26, 2013, we were in compliance with all of these covenants.

As of May 26, 2013, the $87.1 million pre-tax loss recorded in AOCI associated with our previously designated interest rate swaps will be reclassified to net interest over the remaining lives of the hedged transactions. The amount expected to be reclassified from AOCI to net interest in fiscal 2014 is $11.6 million pre-tax.

In Millions		May 26, 2013		May 27, 2012
5.65% notes due February 15, 2019	$	1,150.0	$	1,150.0
5.7% notes due February 15, 2017		1,000.0		1,000.0
3.15% notes due December 15, 2021		1,000.0		1,000.0
5.2% notes due March 17, 2015		750.0		750.0
5.25% notes due August 15, 2013		700.0		700.0
5.4% notes due June 15, 2040		500.0		500.0
4.15% notes due February 15, 2043		500.0		-
Floating-rate notes due May 16, 2014		400.0		400.0
Euribor-based floating-rate note due December 15, 2014		368.6		375.5
1.55% notes due May 16, 2014		300.0		300.0
0.875% notes due January 29, 2016		250.0		-
Floating-rate notes due January 29, 2016		250.0		-
Medium-term notes, 0.1% to 6.4%, due fiscal 2014 or later		204.2		204.2
5.65% notes due September 10, 2012		-		520.8
Other, including capital leases		(3.4)		2.6
		7,369.4		6,903.1
Less amount due within one year		(1,443.3)		(741.2)
Total long-term debt	$	5,926.1	$	6,161.9

Principal payments due on long-term debt in the next five years based on stated contractual maturities, our intent to redeem, or put rights of certain note holders are $1,443.3 million in fiscal 2014, $1,181.9 million in fiscal 2015, $500.5 million in fiscal 2016, $1,000.0 million in fiscal 2017, and $100.0 million in fiscal 2018.