Other short-term borrowings

[Table of Contents](#id0d7a71b05ce452ea9fdb54f3cb359c7_7)eBay Inc.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)Note 10 — Debt  
The following table summarizes the carrying value of our outstanding debt (in millions, except percentages):

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Coupon |  | As of |  | Effective |  | As of |  | Effective |
|  |  |  Rate |  | December 31, 2021 |  |  Interest Rate |  | December 31, 2020 |  |  Interest Rate |
| Long-Term Debt |  |  |  |  |  |  |  |  |  |  |
| Floating Rate Notes: |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |
| Senior notes due 2023 |  | LIBOR plus 0.87% |  | $ | 400  |  |  | 1.100  | % |  | $ | 400  |  |  | 1.187  | % |
|  |  |  |  |  |  |  |  |  |  |  |
| Fixed Rate Notes: |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |
| Senior notes due 2022 |  | 3.800  | % |  | 750  |  |  | 3.989  | % |  | 750  |  |  | 3.989  | % |
| Senior notes due 2022 |  | 2.600  | % |  | 605  |  |  | 2.678  | % |  | 1,000  |  |  | 2.678  | % |
| Senior notes due 2023 |  | 2.750  | % |  | 750  |  |  | 2.866  | % |  | 750  |  |  | 2.866  | % |
| Senior notes due 2024 |  | 3.450  | % |  | 750  |  |  | 3.531  | % |  | 750  |  |  | 3.531  | % |
| Senior notes due 2025 |  | 1.900  | % |  | 800  |  |  | 1.803  | % |  | 800  |  |  | 1.803  | % |
| Senior notes due 2026 |  | 1.400  | % |  | 750  |  |  | 1.252  | % |  | —  |  |  | —  | % |
| Senior notes due 2027 |  | 3.600  | % |  | 850  |  |  | 3.689  | % |  | 850  |  |  | 3.689  | % |
| Senior notes due 2030 |  | 2.700  | % |  | 950  |  |  | 2.623  | % |  | 950  |  |  | 2.623  | % |
| Senior notes due 2031 |  | 2.600  | % |  | 750  |  |  | 2.186  | % |  | —  |  |  | —  | % |
| Senior notes due 2042 |  | 4.000  | % |  | 750  |  |  | 4.114  | % |  | 750  |  |  | 4.114  | % |
| Senior notes due 2051 |  | 3.650  | % |  | 1,000  |  |  | 2.517  | % |  | —  |  |  | —  | % |
| Senior notes due 2056 |  | 6.000  | % |  | —  |  |  | —  | % |  | 750  |  |  | 6.547  | % |
| Total senior notes |  |  |  | 9,105  |  |  |  |  | 7,750  |  |  |  |
| Hedge accounting fair value adjustments (1) |  |  |  | 7  |  |  |  |  | 10  |  |  |  |
| Unamortized premium/(discount) and debt issuance costs |  |  |  | (30) |  |  |  |  | (20) |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |
| Less: Current portion of long-term debt |  |  |  | (1,355) |  |  |  |  | —  |  |  |  |
| Total long-term debt |  |  |  | 7,727  |  |  |  |  | 7,740  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |
| Short-Term Debt |  |  |  |  |  |  |  |  |  |  |
| Current portion of long-term debt |  |  |  | 1,355  |  |  |  |  | —  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |
| Other short-term borrowings |  |  |  | —  |  |  |  |  | 6  |  |  |  |
| Total short-term debt |  |  |  | 1,355  |  |  |  |  | 6  |  |  |  |
| Total Debt |  |  |  | $ | 9,082  |  |  |  |  | $ | 7,746  |  |  |  |

(1)    Includes the fair value adjustments to debt associated with terminated interest rate swaps which are being recorded as a reduction to interest expense over the remaining term of the related notes.  
Senior Notes   
Effective March 1, 2021, the company redeemed the $750 million aggregate principal amount of the 6.000% senior notes due 2056. Total cash consideration paid was $750 million, as the redemption price was equal to 100% of the principal amount. In addition, we paid accrued and unpaid interest on the principal amount.  
In March 2021, we settled cash tender offers with holders of approximately 39% of the total outstanding $1 billion aggregate principal amount of the 2.600% senior fixed rate notes due 2022. Total cash consideration paid for these purchases was $405 million and the carrying amount of the notes was $395 million, resulting in a loss on extinguishment of $10 million (including immaterial fees and other costs associated with the tender), which was recorded in interest and other, net in our consolidated statement of income. In addition, we paid any accrued interest on the tendered notes up to, but not including the date of settlement.  
In May 2021, we issued senior notes, in an aggregate principal amount of $2.5 billion, which consisted of $750 million of 1.400% fixed rate notes due 2026, $750 million of 2.600% fixed rate notes due to 2031 and $1.0 billion of 3.650% fixed rate notes due 2051.   
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