Notes Payable (Tables)

12 Months Ended

Dec. 31, 2013

Notes payable consist of the following at December 31, 2013 and 2012:



	December 31, 2013				December 31, 2012
	Outstanding		Weighted Average Rate		Outstanding		Weighted Average Rate
Notes payable
Commercial paper ⁽¹⁾	$	65	0.1	%	$	381	0.2	%
$200.0 European revolving credit facility, due	—		—		—		—
March 13, 2014 ⁽²⁾	—		—		—		—
Sigma-Aldrich Korea limited credit facility, due	—		—		—		—
June 30, 2014 ⁽³⁾	—		—		—		—
Sigma-Aldrich Japan GK credit facilities ⁽⁴⁾	—		—		—		—
Other short-term credit facilities ⁽⁵⁾	—		—		2		1.5	%
Total notes payable	$	65	0.1	%	$	383	0.2	%

(1)

The Company has a $600 five-year revolving credit facility with a syndicate of banks in the United States that supports the Company's commercial paper program. On December 2, 2013, the Company entered into an amendment to extend the termination date of the facility to May 10, 2018 from May 10, 2017. At December 31, 2013 and December 31, 2012, the Company did not have any borrowings outstanding under this facility. However, the amount available under the facility is reduced by the amount of commercial paper outstanding. The 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 11.7 percent and 0.0 percent, respectively, at December 31, 2013.

(2)

This 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 $2,754, 11.7 percent and 0.0 percent, respectively, at December 31, 2013.


(3)	There were no outstanding borrowings under this facility, which had a total commitment of 20 billion Korean Won ($19), at December 31, 2013.


(4)	Sigma-Aldrich Japan GK has two credit facilities having a total commitment of 2 billion Japanese Yen ($19), with one facility due April 30, 2014 and the other representing a line of credit with no expiration. There were no borrowings under the facilities at December 31, 2013.


(5)	There were no borrowings under these facilities, which have total commitments in U.S. Dollar equivalents of $3, at December 31, 2013.