The following is a summary of the Company’s debt:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (in millions) | | Interest Rates | | Fiscal Year Maturities | | 12/31/2022(1) | | 3/31/2022(1) | | | | | | Short-term debt and current maturities of long-term debt | | | | | | | | | | | | | | Commercial paper(2) | | 1.88% - 2.49% | | 2023 | | $ | 401 | | | $ | 362 | | | | | | | Current maturities of long-term debt | | Various | | 2023 - 2024 | | 242 | | | 249 | | | | | | | Current maturities of finance lease liabilities | | 0.30% - 14.30% | | 2023 - 2024 | | 230 | | | 289 | | | | | | | Short-term debt and current maturities of long-term debt | | | | | | $ | 873 | | | $ | 900 | | | | | | | | | | | | | | | | | | | | | Long-term debt, net of current maturities | | | | | | | | | | | | | | | | | | | | | | | | | | | | €650 million Senior notes | | 1.75% | | 2026 | | 692 | | | 720 | | | | | | | $700 million Senior notes | | 1.80% | | 2027 | | 695 | | | 694 | | | | | | | €750 million Senior notes | | 0.45% | | 2028 | | 796 | | | 828 | | | | | | | $650 million Senior notes | | 2.375% | | 2029 | | 645 | | | 644 | | | | | | | €600 million Senior notes | | 0.95% | | 2032 | | 635 | | | 661 | | | | | | | Finance lease liabilities | | 0.30% - 14.30% | | 2023 - 2028 | | 519 | | | 643 | | | | | | | Borrowings for assets acquired under long-term financing | | 0.00% - 9.78% | | 2023 - 2029 | | 275 | | | 344 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Mandatorily redeemable preferred stock outstanding | | 6.00% | | 2023 | | 64 | | | 63 | | | | | | | Other borrowings | | Various | | 2023 - 2024 | | 1 | | | 6 | | | | | | | Long-term debt | | | | | | 4,322 | | | 4,603 | | | | | | | Less: current maturities | | | | | | 472 | | | 538 | | | | | | | Long-term debt, net of current maturities | | | | | | $ | 3,850 | | | $ | 4,065 | | | | | | | | | | | | | | | | | | | |
(1)The carrying amounts of the senior notes as of December 31, 2022 and March 31, 2022, include the remaining principal outstanding of $3,486 million and $3,575 million, respectively, net of total unamortized debt (discounts) and premiums, and deferred debt issuance costs of $(23) million and $(28) million respectively. (2)At DXC’s option, DXC can borrow up to a maximum of €1 billion or its equivalent in €, £, and $.
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