Long-Term Debt
 3 Months Ended
Mar. 31, 2015
Debt Disclosure [Abstract]  
Long-Term Debt
LONG-TERM DEBT
We provide detail on our long-term debt balances in the following table as of the end of the 2015 first quarter and year-end 2014:
 
At Period End
($ in millions)
March 31,
2015
 
December 31,
2014
Senior Notes:
 
 
 
Series G, interest rate of 5.8%, face amount of $316, maturing November 10, 2015
(effective interest rate of 6.8%)
$
315

 
$
314

Series H, interest rate of 6.2%, face amount of $289, maturing June 15, 2016
(effective interest rate of 6.3%)
289

 
289

Series I, interest rate of 6.4%, face amount of $293, maturing June 15, 2017
(effective interest rate of 6.5%)
293

 
293

Series K, interest rate of 3.0%, face amount of $600, maturing March 1, 2019
(effective interest rate of 4.4%)
597

 
596

Series L, interest rate of 3.3%, face amount of $350, maturing September 15, 2022
(effective interest rate of 3.4%)
349

 
349

Series M, interest rate of 3.4%, face amount of $350, maturing October 15, 2020
(effective interest rate of 3.6%)
348

 
348

Series N Notes, interest rate of 3.1%, face amount of $400, maturing October 15, 2021
(effective interest rate of 3.4%)
397

 
397

Commercial paper, average interest rate of 0.5% at March 31, 2015
1,320

 
1,072

$2,000 Credit Facility
—

 
—

Other
120

 
123

 
4,028

 
3,781

Less current portion classified in:
 
 
 
Current portion of long-term debt
(325
)
 
(324
)
 
$
3,703

 
$
3,457


All of our long-term debt is recourse to us but unsecured. We paid cash for interest, net of amounts capitalized, of $12 million in the 2015 first quarter and $11 million in the 2014 first quarter.
We are a party to a multicurrency revolving credit agreement (the “Credit Facility”) that provides for $2,000 million of aggregate borrowings to support general corporate needs, including working capital, capital expenditures, share repurchases, and letters of credit. The availability of the Credit Facility also supports our commercial paper program. Borrowings under the Credit Facility generally bear interest at LIBOR (the London Interbank Offered Rate) plus a spread, based on our public debt rating. We also pay quarterly fees on the Credit Facility at a rate based on our public debt rating. While any outstanding commercial paper borrowings and/or borrowings under our Credit Facility generally have short-term maturities, we classify the outstanding borrowings as long-term based on our ability and intent to refinance the outstanding borrowings on a long-term basis. The Credit Facility expires on July 18, 2018. See the “Cash Requirements and Our Credit Facilities” caption later in this report in the “Liquidity and Capital Resources” section for information on our available borrowing capacity at March 31, 2015.
We show future principal payments for our debt as of the end of the 2015 first quarter in the following table:
Debt Principal Payments ($ in millions)
 
Amount
2015
 
$
323

2016
 
297

2017
 
302

2018
 
1,329

2019
 
607

Thereafter
 
1,170

Balance at March 31, 2015
 
$
4,028