Notes Payable (Tables)

12 Months Ended

Dec. 31, 2012

Notes payable consist of the following at December 31, 2012 and 2011:



	December 31, 2012				December 31, 2011
	Outstanding		Weighted Average Rate		Outstanding		Weighted Average Rate
Notes payable
Commercial paper ⁽¹⁾	$	381	0.2	%	$	221	0.1	%
$200.0 European revolving credit facility, due	—		—		—		—
March 13, 2014 ⁽²⁾	—		—		—		—
Sigma-Aldrich Korea limited credit facility, due	—		—		—		—
June 30, 2013 ⁽³⁾	—		—		—		—
Sigma-Aldrich Japan credit facilities ⁽⁴⁾	—		—		—		—
Other short-term credit facilities ⁽⁵⁾	2		1.5	%	—		—
Total notes payable	383		0.2	%	221		0.1	%
Plus - current maturities of long-term debt	—		—		—		—
Total notes payable and current maturities of long-term debt	$	383	0.2	%	$	221	0.1	%

(1)

On May 10, 2012, the Company entered into a new $600 five-year revolving credit facility with a syndicate of banks in the U.S. that supports the Company's commercial paper program. The new facility will mature on May 9, 2017, and replaces a $450 revolving credit facility that was scheduled to mature on December 11, 2012. At December 31, 2012 and December 31, 2011, the Company did not have any borrowings outstanding under these facilities. However, the amount available under the facilities is reduced by the amount of commercial paper outstanding. The new facility contains financial covenants that require the maintenance of a ratio of consolidated debt to total capitalization of no more than 65.0 percent and an aggregate amount of subsidiary debt plus consolidated secured debt of no more than 25.0 percent of total net worth. The Company's total consolidated debt as a percentage of total capitalization and aggregate amount of subsidiary debt plus consolidated secured debt as a percentage of total net worth, as defined in the underlying credit agreement, was 22.1 percent and 0.1 percent, respectively, at December 31, 2012.

(2)

Facility contains financial covenants that require the maintenance of consolidated net worth of at least $750, a ratio of consolidated debt to total capitalization of no more than 55.0 percent and an aggregate amount of subsidiary debt plus consolidated secured debt of no more than 25.0 percent of total net worth. The Company's consolidated net worth, consolidated debt as a percentage of total capitalization and aggregate amount of subsidiary debt plus consolidated secured debt as a percentage of total net worth, as defined in the underlying credit agreement, were $2,405, 22.1 percent and 0.1 percent, respectively, at December 31, 2012.


(3)	There were no outstanding borrowings under this facility, which has a total commitment of 20 billion Korean Won ($19), at December 31, 2012.


(4)	Sigma-Aldrich Japan has two credit facilities having a total commitment of 2 billion Japanese Yen ($23), with one facility due April 30, 2013 and the other representing a line of credit with no expiration. There were no borrowings under the facilities at December 31, 2012.


(5)	There were $2 in borrowings under these facilities, which have total commitments in U.S. Dollar equivalents of $3, at December 31, 2012.