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The Company’s significant financial assets and liabilities measured at fair value as of January 2, 2011 and January 3, 2010 were as follows: 

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2009 assets and liabilities are all classified as Level 2 with the exception of other investments of $1,134 million which are classified as Level 1. (2) 

Includes $14 million and $119 million of non-current assets for the fiscal years ending January 2, 2011 and January 3, 2010, respectively. (3) 

Includes $502 million and $517 million of non-current liabilities for the fiscal years ending January 2, 2011 and January 3, 2010, respectively. 

See Notes 2 and 7 for financial assets and liabilities held at carrying amount on the Consolidated Balance Sheet. 

## 7. Borrowings 

The components of long-term debt are as follows: 

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Weighted average effective rate. (2) 

Translation rate at January 2, 2011. (3) 

Translation rate at January 3, 2010. (4) 

The excess of the fair value over the carrying value of debt was $1.0 billion in 2010 and $0.8 billion in 2009. 

Fair value of the non-current debt was estimated using market prices, which were corroborated by quoted broker prices in active markets. 

The Company has access to substantial sources of funds at numerous banks worldwide. In September 2010, the Company secured a new 364-day Credit Facility. Total credit available to the Company approximates $10 billion, which expires September 22, 2011. Interest charged on borrowings under the credit line agree- ments is based on either bids provided by banks, the prime rate or London Interbank Offered Rates (LIBOR), plus applicable margins. Commitment fees under the agreements are not material. 

Throughout 2010 the Company continued to have access to liquidity through the commercial paper market. Short-term borrow- ings and the current portion of long-term debt amounted to approxi- mately $7.6 billion at the end of 2010, of which $7.4 billion was borrowed under the Commercial Paper Program. The remainder represents principally local borrowing by international subsidiaries. 

The Company has a shelf registration with the Securities and Exchange Commission that enables the Company to issue on a timely basis debt securities and warrants to purchase debt securities. 

Aggregate maturities of long-term obligations commencing in 2010 are: 

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