| | ||||||||||||||||||||||||||||
Title of Each Class of Securities to
Be Registered |
| | |
Amount to Be
Registered |
| | |
Proposed Maximum
Offering Price Per Unit |
| | |
Proposed Maximum
Aggregate Offering Price |
| | |
Amount of
Registration Fee(1) |
| ||||||||||||
2.750% Senior Notes due 2023
|
| | | | $ | 750,000,000 | | | | | | | 99.944% | | | | | | $ | 749,580,000 | | | | | | $ | 93,322.71 | | |
3.450% Senior Notes due 2027
|
| | | | $ | 1,000,000,000 | | | | | | | 99.848% | | | | | | $ | 998,480,000 | | | | | | $ | 124,310.76 | | |
4.350% Senior Notes due 2047
|
| | | | $ | 1,250,000,000 | | | | | | | 99.733% | | | | | | $ | 1,246,662,500 | | | | | | $ | 155,209.48 | | |
Total
|
| | | | $ | 3,000,000,000 | | | | | | | — | | | | | | $ | 2,994,722,500 | | | | | | $ | 372,842.95 | | |
|
| | |
Per 2023 Note
|
| |
Total
|
| |
Per 2027 Note
|
| |
Total
|
| |
Per 2047 Note
|
| |
Total
|
| ||||||||||||||||||
Public offering price(1)
|
| | | | 99.944% | | | | | $ | 749,580,000 | | | | | | 99.848% | | | | | $ | 998,480,000 | | | | | | 99.733% | | | | | $ | 1,246,662,500 | | |
Underwriting discount
|
| | | | 0.350% | | | | | $ | 2,625,000 | | | | | | 0.450% | | | | | $ | 4,500,000 | | | | | | 0.875% | | | | | $ | 10,937,500 | | |
Proceeds, before expenses, to us(1)
|
| | | | 99.594% | | | | | $ | 746,955,000 | | | | | | 99.398% | | | | | $ | 993,980,000 | | | | | | 98.858% | | | | | $ | 1,235,725,000 | | |
|
MUFG
|
| |
Standard Chartered Bank
|
|
|
PNC Capital Markets LLC
|
| |
US Bancorp
|
|
| | | | | S-1 | | | |
| | | | | S-1 | | | |
| | | | | S-2 | | | |
| | | | | S-2 | | | |
| | | | | S-4 | | | |
| | | | | S-6 | | | |
| | | | | S-9 | | | |
| | | | | S-12 | | | |
| | | | | S-13 | | | |
| | | | | S-14 | | | |
| | | | | S-15 | | | |
| | | | | S-30 | | | |
| | | | | S-35 | | | |
| | | | | S-40 | | | |
| | | | | S-40 | | |
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| | | | | 18 | | | |
| | | | | 18 | | | |
| | | | | 19 | | |
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As of September 30, 2017
|
| |||||||||
| | |
Actual
|
| |
Adjusted for this
Offering |
| ||||||
| | |
(unaudited)
(in millions, except per share amounts) |
| |||||||||
Cash, Cash Equivalents and Marketable Securities
|
| | | $ | 11,759 | | | | | $ | 13,331 | | |
Short-Term Debt: | | | | ||||||||||
Commercial Paper
|
| | | | — | | | | | | — | | |
Existing Senior Notes:
|
| | | ||||||||||
2.125% Senior Notes due 2018(1)
|
| | | | 999 | | | | | | — | | |
2.300% Senior Notes due 2018(1)
|
| | | | 401 | | | | | | — | | |
Total Short-Term Debt
|
| | | | 1,400 | | | | | | — | | |
Long-Term Debt: | | | | ||||||||||
Revolving Credit Facility(2)
|
| | | | — | | | | | | — | | |
Existing Senior Notes:
|
| | | ||||||||||
2.250% Senior Notes due 2019
|
| | | | 506 | | | | | | 506 | | |
2.875% Senior Notes due 2020
|
| | | | 1,494 | | | | | | 1,494 | | |
3.950% Senior Notes due 2020
|
| | | | 515 | | | | | | 515 | | |
2.250% Senior Notes due 2021
|
| | | | 497 | | | | | | 497 | | |
3.250% Senior Notes due 2022
|
| | | | 1,046 | | | | | | 1,046 | | |
3.550% Senior Notes due 2022
|
| | | | 994 | | | | | | 994 | | |
4.000% Senior Notes due 2023
|
| | | | 739 | | | | | | 739 | | |
3.625% Senior Notes due 2024
|
| | | | 1,001 | | | | | | 1,001 | | |
3.875% Senior Notes due 2025
|
| | | | 2,480 | | | | | | 2,480 | | |
5.700% Senior Notes due 2040
|
| | | | 247 | | | | | | 247 | | |
5.250% Senior Notes due 2043
|
| | | | 393 | | | | | | 393 | | |
4.625% Senior Notes due 2044
|
| | | | 987 | | | | | | 987 | | |
5.000% Senior Notes due 2045
|
| | | | 1,975 | | | | | | 1,975 | | |
Senior Notes offered hereby:
|
| | | ||||||||||
2.750% Senior Notes due 2023
|
| | | | — | | | | | | 746 | | |
3.450% Senior Notes due 2027
|
| | | | — | | | | | | 992 | | |
4.350% Senior Notes due 2047
|
| | | | — | | | | | | 1,234 | | |
Total Long-Term Debt
|
| | | $ | 12,874 | | | | | | 15,846 | | |
Equity: | | | | ||||||||||
Preferred stock, $.01 par value per share, 5.0 million shares authorized; none outstanding
|
| | | $ | — | | | | | $ | — | | |
Common stock, $.01 par value per share; 1,150.0 million shares authorized;
970.4 million issued |
| | | | 10 | | | | | | 10 | | |
Additional paid-in capital
|
| | | | 13,604 | | | | | | 13,604 | | |
Common stock in treasury, at cost (183.3 million shares)
|
| | | | (17,243) | | | | | | (17,243) | | |
Retained earnings
|
| | | | 13,142 | | | | | | 13,142 | | |
Accumulated other comprehensive income
|
| | | | 337 | | | | | | 337 | | |
Total Equity
|
| | | $ | 9,850 | | | | | $ | 9,850 | | |
Total Capitalization
|
| | | $ | 24,124 | | | | | $ | 25,696 | | |
|
| | |
Year Ended
|
| |
Nine Months
Ended September 30, 2017 |
| ||||||||||||||||||||||||||||||
| | |
December 31,
2012 |
| |
December 31,
2013 |
| |
December 31,
2014 |
| |
December 31,
2015 |
| |
December 31,
2016 |
| |||||||||||||||||||||
Ratio of earnings to fixed charges(1)
|
| | | | 25.7x | | | | | | 17.6x | | | | | | 13.4x | | | | | | 7.2x | | | | | | 5.5x | | | | | | 8.9x | | |
Underwriter
|
| |
Principal
Amount of 2023 Notes |
| |
Principal
Amount of 2027 Notes |
| |
Principal
Amount of 2047 Notes |
| |||||||||
Barclays Capital Inc.
|
| | | $ | 127,500,000 | | | | | $ | 170,000,000 | | | | | $ | 212,500,000 | | |
Credit Suisse Securities (USA) LLC
|
| | | $ | 127,500,000 | | | | | $ | 170,000,000 | | | | | $ | 212,500,000 | | |
Goldman Sachs & Co. LLC
|
| | | $ | 127,500,000 | | | | | $ | 170,000,000 | | | | | $ | 212,500,000 | | |
J.P. Morgan Securities LLC
|
| | | $ | 127,500,000 | | | | | $ | 170,000,000 | | | | | $ | 212,500,000 | | |
Morgan Stanley & Co. LLC
|
| | | $ | 127,500,000 | | | | | $ | 170,000,000 | | | | | $ | 212,500,000 | | |
HSBC Securities (USA) Inc.
|
| | | $ | 56,250,000 | | | | | $ | 75,000,000 | | | | | $ | 93,750,000 | | |
MUFG Securities Americas Inc.
|
| | | $ | 18,750,000 | | | | | $ | 25,000,000 | | | | | $ | 31,250,000 | | |
Standard Chartered Bank
|
| | | $ | 18,750,000 | | | | | $ | 25,000,000 | | | | | $ | 31,250,000 | | |
PNC Capital Markets LLC
|
| | | $ | 9,375,000 | | | | | $ | 12,500,000 | | | | | $ | 15,625,000 | | |
U.S. Bancorp Investments, Inc.
|
| | | $ | 9,375,000 | | | | | $ | 12,500,000 | | | | | $ | 15,625,000 | | |
Total
|
| | | $ | 750,000,000 | | | | | $ | 1,000,000,000 | | | | | $ | 1,250,000,000 | | |
|
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| | | | | 15 | | | |
| | | | | 16 | | | |
| | | | | 18 | | | |
| | | | | 18 | | | |
| | | | | 18 | | | |
| | | | | 19 | | |
| | |
Nine Months
Ended September 30, 2016 |
| |
Years Ended
|
| ||||||||||||||||||||||||||||||
| | |
December 31,
2015 |
| |
December 31,
2014 |
| |
December 31,
2013 |
| |
December 31,
2012 |
| |
December 31,
2011 |
| |||||||||||||||||||||
Ratio of earnings to
fixed charges |
| | | | 5.8x | | | | | | 7.2x | | | | | | 13.4x | | | | | | 17.6x | | | | | | 25.7x | | | | | | 32.4x | | |
|
MUFG
|
| |
Standard Chartered Bank
|
|
|
PNC Capital Markets LLC
|
| |
US Bancorp
|
|