maturities of long-term debt for the five years subsequent to december 31 , 2005 are as follows ( in millions ) : .
in 2006 what was the ratio of the long-term debt payments due dealer remarketable securities to the medium-term notes
long-term debt payments due in 2006 include $ 350 million of dealer remarketable securities ( final maturity 2010 ) and $ 62 million of medium-term notes ( final maturity 2044 ) . these securities are classified as current portion of long-term debt as the result of put provisions associated with these debt instruments . the next date on which investors can require the company to repurchase the convertible notes is 2007 , thus in the above schedule these securities are considered due in 2007 ( final maturity 2032 ) . the esop debt is serviced by dividends on stock held by the esop and by company contributions . these contributions are not reported as interest expense , but are reported as an employee benefit expense in the consolidated statement of income . other borrowings includes debt held by 3m 2019s international companies and floating rate notes in the united states , with the long-term portion of this debt primarily comprised of u.s . dollar floating rate debt . at december 31 , 2005 , available short-term committed lines of credit globally totaled about $ 618 million , of which $ 101 million was utilized . debt covenants do not restrict the payment of dividends . 3m has a medium-term notes program and shelf registration that have remaining capacity of approximately $ 1.438 billion at december 31 , 2005 . in september 2003 , the company filed a shelf registration statement with the securities and exchange commission relating to the potential offering of debt securities of up to $ 1.5 billion . this shelf registration became effective in october 2003 . in december 2003 , the company established under the shelf a medium-term notes program through which up to $ 1.5 billion of medium-term notes may be offered . 3m plans to use the net proceeds from issuances of debt securities under this registration for general corporate purposes , including the repayment of debt ; investments in or extensions of credit to 3m subsidiaries ; or the financing of possible acquisitions or business expansion . at december 31 , 2004 , $ 62 million of medium-term notes had been issued under the medium-term notes program . no debt was issued under this program in 2005 . 3m may redeem its 30-year zero-coupon senior notes ( the 201cconvertible notes 201d ) at any time in whole or in part , beginning november 21 , 2007 , at the accreted conversion price ; however , bondholders may convert upon notification of redemption into 9.4602 shares of 3m common stock . holders of the 30-year zero-coupon senior notes have the option to require 3m to purchase their notes at accreted value on november 21 in the years 2005 , 2007 , 2012 , 2017 , 2022 and 2027 . in november 2005 , 22506 of the 639000 in outstanding bonds were redeemed , resulting in a payout from 3m of approximately $ 20 million . this reduced the convertible notes 2019 face value at maturity to $ 616 million , which equates to a book value of approximately $ 539 million at december 31 , 2005 . as disclosed in a form 8-k in november 2005 , 3m amended the terms of these securities to pay cash at a rate of 2.40% ( 2.40 % ) per annum of the principal amount at maturity of the company 2019s convertible notes , which equates to 2.75% ( 2.75 % ) per annum of the notes 2019 accreted value on november 21 , 2005 . the cash interest payments will be made semiannually in arrears on may 22 , 2006 , november 22 , 2006 , may 22 , 2007 and november 22 , 2007 to holders of record on the 15th calendar day preceding each such interest payment date . 3m originally sold $ 639 million in aggregate face amount of these 201cconvertible notes 201d on november 15 , 2002 , which are convertible into shares of 3m common stock . the gross proceeds from the offering , to be used for general corporate purposes , were $ 550 million ( $ 540 million net of issuance costs ) . debt issuance costs were amortized on a straight-line basis over a three-year period beginning in november 2002 . on february 14 , 2003 , 3m registered these convertible notes in a registration statement filed with the securities and exchange commission . the terms of the convertible notes include a yield to maturity of .50% ( .50 % ) and an initial conversion premium of 40% ( 40 % ) over the $ 65.00 ( split-adjusted ) closing price of 3m common stock on november 14 , 2002 . if certain conditions for conversion ( relating to the closing common stock prices of 3m exceeding the conversion trigger price for specified periods ) are met , holders may convert each of the 30-year zero-coupon senior notes into 9.4602 shares of 3m common stock in any calendar quarter commencing after march 31 , 2003 . the conversion trigger price for the fourth quarter of 2005 was $ 120.00 per share . if the conditions for conversion are met , and 3m elects not to settle in cash , the 30-year zero-coupon senior notes will be convertible in the aggregate into approximately 5.8 million shares of 3m common stock . 3m may choose to pay the redemption purchase price in cash and/or common stock ; however , if redemption occurs , the company has the intent and ability to settle this debt security in cash . the conditions for conversion have never been met ; accordingly , there has been no impact on 3m 2019s diluted earnings per share . for a discussion of accounting pronouncements that will affect accounting treatment for the convertible note , refer to note 1 to the consolidated financial statements for discussion of eitf issue no . 04-08 , 201cthe effect of contingently convertible debt on diluted earnings per share 201d and proposed sfas no . 128r , 201cearnings per share 201d. .