LONG-TERM DEBT

During 2014, we issued $5.84 billion of medium-term notes, of which $4.46 billion were at fixed interest rates and $1.38 billion were at floating interest rates, primarily indexed to LIBOR. At December 31, 2014, the outstanding medium-term notes had remaining maturities ranging up to 12 years.

Long-term debt outstanding as of December 31, was comprised of the following:



(Millions of dollars)
	2014				2013				2012
	Balance			Avg. Rate	Balance			Avg. Rate	Balance			Avg. Rate
Medium-term notes	$	23,094		2.4%	$	23,854		2.8%	$	23,500		3.2%
Unamortized discount	(4		)		(8		)		(13		)
Medium-term notes, net	23,090				23,846				23,487
Bank borrowings	1,484			3.4%	1,483			3.2%	1,602			4.1%
Total	$	24,574			$	25,329			$	25,089

Long-term debt outstanding as of December 31, 2014, matures as follows:



(Millions of dollars)
2015	$	6,283
2016	5,507
2017	5,487
2018	2,411
2019	2,381
Thereafter	2,505
Total	$	24,574