in addition to the committed credit facilities discussed above , certain of our subsidiaries maintain short-term credit arrangements to meet their respective working capital needs .these credit arrangements , which amounted to approximately $ 2.9 billion at december 31 , 2015 , and $ 3.2 billion at december 31 , 2014 , are for the sole use of our subsidiaries .borrowings under these arrangements amounted to $ 825 million at december 31 , 2015 , and $ 1.2 billion at december 31 , 2014 .commercial paper program 2013 we have commercial paper programs in place in the u.s .and in europe .at december 31 , 2015 and december 31 , 2014 , we had no commercial paper outstanding .effective april 19 , 2013 , our commercial paper program in the u.s .was increased by $ 2.0 billion .as a result , our commercial paper programs in place in the u.s .and in europe currently have an aggregate issuance capacity of $ 8.0 billion .we expect that the existence of the commercial paper program and the committed credit facilities , coupled with our operating cash flows , will enable us to meet our liquidity requirements .sale of accounts receivable 2013 to mitigate credit risk and enhance cash and liquidity management we sell trade receivables to unaffiliated financial institutions .these arrangements allow us to sell , on an ongoing basis , certain trade receivables without recourse .the trade receivables sold are generally short-term in nature and are removed from the consolidated balance sheets .we sell trade receivables under two types of arrangements , servicing and non-servicing .pmi 2019s operating cash flows were positively impacted by the amount of the trade receivables sold and derecognized from the consolidated balance sheets , which remained outstanding with the unaffiliated financial institutions .the trade receivables sold that remained outstanding under these arrangements as of december 31 , 2015 , 2014 and 2013 were $ 888 million , $ 120 million and $ 146 million , respectively .the net proceeds received are included in cash provided by operating activities in the consolidated statements of cash flows .for further details , see item 8 , note 23 .sale of accounts receivable to our consolidated financial statements .debt 2013 our total debt was $ 28.5 billion at december 31 , 2015 , and $ 29.5 billion at december 31 , 2014 .our total debt is primarily fixed rate in nature .for further details , see item 8 , note 7 .indebtedness .the weighted-average all-in financing cost of our total debt was 3.0% ( 3.0 % ) in 2015 , compared to 3.2% ( 3.2 % ) in 2014 .see item 8 , note 16 .fair value measurements to our consolidated financial statements for a discussion of our disclosures related to the fair value of debt .the amount of debt that we can issue is subject to approval by our board of directors .on february 21 , 2014 , we filed a shelf registration statement with the u.s .securities and exchange commission , under which we may from time to time sell debt securities and/or warrants to purchase debt securities over a three-year period .our debt issuances in 2015 were as follows : ( in millions ) type face value interest rate issuance maturity u.s .dollar notes ( a ) $ 500 1.250% ( 1.250 % ) august 2015 august 2017 u.s .dollar notes ( a ) $ 750 3.375% ( 3.375 % ) august 2015 august 2025 ( a ) interest on these notes is payable annually in arrears beginning in february 2016 .the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2014 and 10.5 years at the end of 2015 .2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below. .
[['type', '', 'face value', 'interest rate', 'issuance', 'maturity'], ['u.s . dollar notes', '( a )', '$ 500', '1.250% ( 1.250 % )', 'august 2015', 'august 2017'], ['u.s . dollar notes', '( a )', '$ 750', '3.375% ( 3.375 % )', 'august 2015', 'august 2025']]
in addition to the committed credit facilities discussed above , certain of our subsidiaries maintain short-term credit arrangements to meet their respective working capital needs .these credit arrangements , which amounted to approximately $ 2.9 billion at december 31 , 2015 , and $ 3.2 billion at december 31 , 2014 , are for the sole use of our subsidiaries .borrowings under these arrangements amounted to $ 825 million at december 31 , 2015 , and $ 1.2 billion at december 31 , 2014 .commercial paper program 2013 we have commercial paper programs in place in the u.s .and in europe .at december 31 , 2015 and december 31 , 2014 , we had no commercial paper outstanding .effective april 19 , 2013 , our commercial paper program in the u.s .was increased by $ 2.0 billion .as a result , our commercial paper programs in place in the u.s .and in europe currently have an aggregate issuance capacity of $ 8.0 billion .we expect that the existence of the commercial paper program and the committed credit facilities , coupled with our operating cash flows , will enable us to meet our liquidity requirements .sale of accounts receivable 2013 to mitigate credit risk and enhance cash and liquidity management we sell trade receivables to unaffiliated financial institutions .these arrangements allow us to sell , on an ongoing basis , certain trade receivables without recourse .the trade receivables sold are generally short-term in nature and are removed from the consolidated balance sheets .we sell trade receivables under two types of arrangements , servicing and non-servicing .pmi 2019s operating cash flows were positively impacted by the amount of the trade receivables sold and derecognized from the consolidated balance sheets , which remained outstanding with the unaffiliated financial institutions .the trade receivables sold that remained outstanding under these arrangements as of december 31 , 2015 , 2014 and 2013 were $ 888 million , $ 120 million and $ 146 million , respectively .the net proceeds received are included in cash provided by operating activities in the consolidated statements of cash flows .for further details , see item 8 , note 23 .sale of accounts receivable to our consolidated financial statements .debt 2013 our total debt was $ 28.5 billion at december 31 , 2015 , and $ 29.5 billion at december 31 , 2014 .our total debt is primarily fixed rate in nature .for further details , see item 8 , note 7 .indebtedness .the weighted-average all-in financing cost of our total debt was 3.0% ( 3.0 % ) in 2015 , compared to 3.2% ( 3.2 % ) in 2014 .see item 8 , note 16 .fair value measurements to our consolidated financial statements for a discussion of our disclosures related to the fair value of debt .the amount of debt that we can issue is subject to approval by our board of directors .on february 21 , 2014 , we filed a shelf registration statement with the u.s .securities and exchange commission , under which we may from time to time sell debt securities and/or warrants to purchase debt securities over a three-year period .our debt issuances in 2015 were as follows : ( in millions ) type face value interest rate issuance maturity u.s .dollar notes ( a ) $ 500 1.250% ( 1.250 % ) august 2015 august 2017 u.s .dollar notes ( a ) $ 750 3.375% ( 3.375 % ) august 2015 august 2025 ( a ) interest on these notes is payable annually in arrears beginning in february 2016 .the net proceeds from the sale of the securities listed in the table above will be used for general corporate purposes .the weighted-average time to maturity of our long-term debt was 10.8 years at the end of 2014 and 10.5 years at the end of 2015 .2022 off-balance sheet arrangements and aggregate contractual obligations we have no off-balance sheet arrangements , including special purpose entities , other than guarantees and contractual obligations discussed below. .

Question: what is the interest expense in 2015 assuming that all the debt is interest bearing debt , ( in billions ) ?
Answer: 0.86