Contractual Obligations
As defined by reporting regulations, our contractual obligations for future payments as of December 31, 2004, follow:
| Payments due by period | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (In millions) | Total | 2005 | 2006–2007 | 2008–2009 | 2010 and thereafter |
||||||||||
| Borrowings | |||||||||||||||
| (note 18)(e) | $ | 370,364 | $ | 157,694 | $ | 84,926 | $ | 47,438 | $ | 80,306 | |||||
| Interest on | |||||||||||||||
| borrowings | 59,000 | 11,000 | 16,000 | 10,000 | 22,000 | ||||||||||
| Operating lease | |||||||||||||||
| obligations | |||||||||||||||
| (note 4) | 7,718 | 1,383 | 2,240 | 1,613 | 2,482 | ||||||||||
| Purchase obligations(a)(b) | 53,000 | 35,000 | 11,000 | 4,000 | 3,000 | ||||||||||
| Insurance liabilities | |||||||||||||||
| (note 19)(c) | 92,000 | 14,000 | 19,000 | 13,000 | 46,000 | ||||||||||
| Other liabilities(d) | 68,000 | 18,000 | 5,000 | 3,000 | 42,000 | ||||||||||
| (a) | Included all take-or-pay arrangements, capital expenditures, contractual commitments to purchase equipment that will be classified as equipment leased to others, software acquisition/license commitments, contractual minimum programming commitments and contractually required cash payments for acquisitions. |
| (b) | Excluded funding commitments entered into in the ordinary course of business by our financial services businesses. Further information on these commitments is provided in note 30. |
| (c) | Included guaranteed investment contracts, structured settlements and single premium immediate annuities based on scheduled payouts, as well as those contracts with reasonably determinable cash flows such as deferred annuities, universal life, term life, long-term care, whole life and other life insurance contracts as well as workers compensation tabular indemnity loan and long-term liability claims. |
| (d) | Included an estimate of future expected funding requirements related to our pension and postretirement benefit plans. Because their future cash outflows are uncertain, the following non-current liabilities are excluded from the table above: deferred taxes, derivatives, deferred revenue and other sundry items. Refer to notes 21 and 28 for further information on these items. |
| (e) | As restated. |
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