Analysis of Debt

EMC Corp., balance sheet: debt

US$ in millions

	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011
Notes converted and payable	—)	—)	1,665)	—)	1,700)
Short-term debt	1,299)	—)	—)	—)	—)
Current portion of convertible debt	—)	—)	—)	1,652)	1,605)
Long-term debt	5,475)	5,495)	5,494)	—)	—)
Total debt (carrying amount)	6,774)	5,495)	7,159)	1,652)	3,305)

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Debt item	Description	The company
Total debt (carrying amount)	Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations.	EMC Corp. total debt decreased from 2013 to 2014 but then increased from 2014 to 2015 not reaching 2013 level.

	Dec 31, 2015
Selected Financial Data (US$ in millions)
Notes converted and payable	—)
Short-term debt	1,299)
Long-term debt	4,999)
Total debt (fair value)	6,298)
Financial Ratio
Debt, fair value to carrying amount ratio	0.93

Weighted-average effective interest rate on debt: 2.34%

Interest rate	Debt amount¹	Interest rate × Debt amount
2.55%	5,495)	140)
0.73%	699)	5)
Total	6,194)	145)
2.34%

¹ US$ in millions

² Weighted-average interest rate = 100 × 145 ÷ 6,194 = 2.34%

EMC Corp. (NYSE:EMC)