10. Long-term Debt and Debt Facility Agreements

Long-term Debt consists of the following:

	(Stated in millions)

	2013		2012
3.30% Senior Notes due 2021	$	1,596	$	1,595
3.65% Senior Notes due 2023		1,495		—
4.50% Guaranteed Notes due 2014 ⁽¹⁾		—		1,324
2.75% Guaranteed Notes due 2015⁽¹⁾		1,373		1,318
1.95% Senior Notes due 2016		1,099		1,099
4.20% Senior Notes due 2021		1,099		1,099
1.25% Senior Notes due 2017		999		999
2.40% Senior Notes due 2022		999		998
1.50% Guaranteed Notes due 2019⁽¹⁾		697		—
2.65% Senior Notes due 2016 ⁽²⁾		500		500
Floating Rate Senior Notes due 2014⁽³⁾		—		300
Other		536		277
	$	10,393	$	9,509

⁽¹⁾	Schlumberger maintains a €5.0 billion Guaranteed Euro Medium Term Note program that provides for the issuance of various types of debt instruments such as fixed or floating rate notes in euro, US dollar or other currencies. The following is a summary of debt issued under this program:

Schlumberger issued €0.5 billion 1.50% Guaranteed Notes due 2019 in the fourth quarter of 2013. Schlumberger entered into agreements to swap these euro notes for US dollars on the date of issue until maturity, effectively making this a US dollar denominated debt on which Schlumberger will pay interest in US dollars at a rate equal to three-month LIBOR plus approximately 64 basis points.

Schlumberger issued €1.0 billion 2.75% Guaranteed Notes due 2015 in the fourth quarter of 2010. Schlumberger entered into agreements to swap these euro notes for US dollars on the date of issue until maturity, effectively making this a US dollar denominated debt on which Schlumberger will pay interest in US dollars at a rate of 2.56%.

Schlumberger issued €1.0 billion 4.50% Guaranteed Notes due 2014 in the first quarter of 2009, Schlumberger entered into agreements to swap these euro notes for US dollars on the date of issue until maturity, effectively making this a US dollar denominated debt on which Schlumberger will pay interest in US dollars at a rate of 4.95%.

⁽²⁾	Schlumberger entered into agreements to swap these dollar notes for euros on the date of issue until maturity, effectively making this a euro-denominated debt on which Schlumberger pays interest in euros at a rate of 2.39%.

⁽³⁾	These notes bear interest at a rate equal to three-month LIBOR plus 55 basis points per year.

Schlumberger Limited fully and unconditionally guarantees the securities issued by certain of its subsidiaries, including securities issued by Schlumberger Investment SA, a wholly-owned finance subsidiary of Schlumberger.

At December 31, 2013, Schlumberger had separate committed debt facility agreements aggregating $4.0 billion with commercial banks, of which $3.7 billion was available and unused. This included $3.5 billion of committed facilities which supports a commercial paper program in Europe, of which $250 million mature in July 2016, $1.75 billion mature in July 2018 and $1.5 billion mature in November 2018. Interest rates and other terms of borrowing under these lines of credit vary from country to country.

Commercial paper borrowings are classified as long-term debt to the extent of their backup by available and unused committed credit facilities maturing in more than one year and to the extent it is Schlumberger’s intent to maintain these obligations for longer than one year. Borrowings under the commercial paper program at December 31, 2013 were $95 million and were classified within Long-term debt – current portion in the Consolidated Balance Sheet. There were no borrowings under the commercial paper programs at December 31, 2012.

The weighted average interest rate on variable rate debt as of December 31, 2013 was 2.8%.

Long-term Debt as of December 31, 2013, is due as follows: $1.4 billion in 2015, $1.6 billion in 2016, $1.0 billion in 2017, $0.5 billion in 2018, $0.7 billion in 2019, $2.7 billion in 2021, $1.0 billion in 2022 and $1.5 billion in 2023.

The fair value of Schlumberger’s Long-term Debt at December 31, 2013 and December 31, 2012 was $10.4 billion and $9.9 billion, respectively, and was estimated based on quoted market prices.