Document QXMj0kxGLm69dp0xQzBjmXoJo
Dana Corporation
Page 107 of 176
Table of Contents
Selected details of our consolidated long-term debt are as follows:
December 31
2003
2002
Indebtedness of Dana, excluding consolidated subsidiaries -- Unsecured notes payable, fixed rates --
6.25% notes, due March 1, 2004 6.5% notes, due March 15, 2008
7.0% notes, due March 15, 2028 6.5% notes, due March 1, 2009
7.0% notes, due March 1, 2029
9.0% notes, due August 15, 2011
9.0% euro notes, due August 15, 2011
10.125% notes, due March 15, 2010
Valuation adjustments Indebtedness of DCC --
Unsecured notes payable, variable rates, 4.89125%, due 2004 to 2006
Unsecured notes payable, fixed rates, 2.00% - 8.54%, due 2004 to 2011
Nonrecourse notes payable, fixed rates, 9.25% - 12.05%, due 2004 to 2016
Nonrecourse notes payable, due 2007, variable rate of 6.15% at the end of 2003
Indebtedness of other consolidated subsidiaries
$ 231 150 164 349 266 575 250 247 65
13
642
32
35 25
$ 250 150 196 349 371 575 209 247 92
95
655
70
35 45
Total long-term debt Less: Current maturities
3,044 439
3,339 124
$2,605 $3,215
The total maturities of all long-term debt for the five years after 2003 are as follows: 2004, $439; 2005, $63; 2006, $95; 2007, $352 and 2008, $156.
Interest paid on short-term and long-term debt was $222 in 2003, $255 in 2002 and $304 in 2001.
Note 10. Interest Rate Agreements
Under our interest rate swap agreements, we have agreed to exchange with third parties, at specific intervals, the difference between fixed rate and floating rate interest amounts calculated by reference to agreed notional amounts. Differentials to be paid or received under these agreements are accrued and recognized as adjustments to interest expense.
At December 31, 2002, Dana, exclusive of DCC, was a party to several interest rate swap agreements corresponding with our August 2001 and March 2002 notes. These agreements effectively converted the interest rates of these notes to a variable rate in order to provide a better balance of fixed and variable rate debt. These agreements had been designated as fair value hedges of the corresponding
http://www.sec.gov/Archives/edgar/data/26780/000095015204001384/105571ael0vk.htm
8/1/2004