Summary of Cash Flows Associated With Issuance and Maturities of Commercial Paper | The following table provides a summary of cash flows associated with the issuance and maturities of Commercial Paper for 2016 and 2015 (in millions): | | | | | | | | | | 2016 | | 2015 | Maturities less than 90 days: | | | | Proceeds from (repayments of) commercial paper, net | $ | (869 | ) | | $ | 5,293 |
| | | | | Maturities greater than 90 days: | | | | Proceeds from commercial paper | 3,632 |
| | 3,851 |
| Repayments of commercial paper | (3,160 | ) | | (6,953 | ) | Maturities greater than 90 days, net | 472 |
|
| (3,102 | ) | Total change in commercial paper, net | $ | (397 | ) |
| $ | 2,191 |
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Summary of Term Debt | The following table provides a summary of the Company’s term debt as of September 24, 2016 and September 26, 2015: | | | | | | | | | | | | | | | | | | Maturities | | 2016 | | 2015 | | Amount (in millions) | | Effective Interest Rate | | Amount (in millions) | | Effective Interest Rate | 2013 debt issuance of $17.0 billion: | | | | | | | | | | Floating-rate notes | 2018 | | $ | 2,000 |
| | 1.10% |
| | $ | 3,000 |
| | 0.51% - 1.10% |
| Fixed-rate 1.000% - 3.850% notes | 2018 - 2043 | | 12,500 |
| | 1.08% - 3.91% |
| | 14,000 |
| | 0.51% - 3.91% |
| | | | | | | | | | | 2014 debt issuance of $12.0 billion: | | | | | | | | | | Floating-rate notes | 2017 - 2019 | | 2,000 |
| | 0.86% - 1.09% |
| | 2,000 |
| | 0.37% - 0.60% |
| Fixed-rate 1.050% - 4.450% notes | 2017 - 2044 | | 10,000 |
| | 0.85% - 4.48% |
| | 10,000 |
| | 0.37% - 4.48% |
| | | | | | | | | | | 2015 debt issuances of $27.3 billion: | | | | | | | | | | Floating-rate notes | 2017 - 2020 | | 1,781 |
| | 0.87% - 1.87% |
| | 1,743 |
| | 0.36% - 1.87% |
| Fixed-rate 0.350% - 4.375% notes | 2017 - 2045 | | 25,144 |
| | 0.28% - 4.51% |
| | 24,958 |
| | 0.28% - 4.51% |
| | | | | | | | | | | Second quarter 2016 debt issuance of $15.5 billion: | | | | | | | | | | Floating-rate notes | 2019 | | 500 |
| | 1.64 | % | | — |
| | — |
| Floating-rate notes | 2021 | | 500 |
| | 1.95 | % | | — |
| | — |
| Fixed-rate 1.300% notes | 2018 | | 500 |
| | 1.32 | % | | — |
| | — |
| Fixed-rate 1.700% notes | 2019 | | 1,000 |
| | 1.71 | % | | — |
| | — |
| Fixed-rate 2.250% notes | 2021 | | 3,000 |
| | 1.91 | % | | — |
| | — |
| Fixed-rate 2.850% notes | 2023 | | 1,500 |
| | 2.58 | % | | — |
| | — |
| Fixed-rate 3.250% notes | 2026 | | 3,250 |
| | 2.51 | % | | — |
| | — |
| Fixed-rate 4.500% notes | 2036 | | 1,250 |
| | 4.54 | % | | — |
| | — |
| Fixed-rate 4.650% notes | 2046 | | 4,000 |
| | 4.58 | % | | — |
| | — |
| | | |
| | | |
| | | Third quarter 2016 Australian dollar-denominated debt issuance of A$1.4 billion: | | | | | | | | | | Fixed-rate 2.650% notes | 2020 | | 493 |
| | 1.92 | % | | — |
| | — |
| Fixed-rate 3.350% notes | 2024 | | 342 |
| | 2.61 | % | | — |
| | — |
| Fixed-rate 3.600% notes | 2026 | | 247 |
| | 2.84 | % | | — |
| | — |
| | | |
| | | |
| | | Third quarter 2016 debt issuance of $1.4 billion: | | | | | | | | | | Fixed-rate 4.150% notes | 2046 | | 1,377 |
| | 4.15 | % | | — |
| | — |
| | | | | | | | | | | Fourth quarter 2016 debt issuance of $7.0 billion: | | | | | | | | | | Floating-rate notes | 2019 | | 350 |
| | 0.91 | % | | — |
| | — |
| Fixed-rate 1.100% notes | 2019 | | 1,150 |
| | 1.13 | % | | — |
| | — |
| Fixed-rate 1.550% notes | 2021 | | 1,250 |
| | 1.40 | % | | — |
| | — |
| Fixed-rate 2.450% notes | 2026 | | 2,250 |
| | 2.15 | % | | — |
| | — |
| Fixed-rate 3.850% notes | 2046 | | 2,000 |
| | 3.86 | % | | — |
| | — |
| Total term debt | | | 78,384 |
| | | | 55,701 |
| | | | | | | | | | | | | Unamortized premium/(discount) and issuance costs, net | | | (174 | ) | | | | (248 | ) | | | Hedge accounting fair value adjustments | | | 717 |
| | | | 376 |
| | | Less: Current portion of long-term debt, net | | | (3,500 | ) | | | | (2,500 | ) | | | Total long-term debt | | | $ | 75,427 |
| | | | $ | 53,329 |
| | |
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Future Principal Payments for Notes | The future principal payments for the Company’s Notes as of September 24, 2016 are as follows (in millions): | | | | | 2017 | $ | 3,500 |
| 2018 | 6,500 |
| 2019 | 6,834 |
| 2020 | 6,454 |
| 2021 | 7,750 |
| Thereafter | 47,346 |
| Total term debt | $ | 78,384 |
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