Table of Contents 14. Long-term debt December 31, (Millions of dollars) Effective Yield to Maturity  1 2019 2018 Machinery, Energy & Transportation: Notes—$1,250 million of 3.900% due 2021  2 4.01% $ 1,248 $ 1,247 Notes—$759 million of 5.200% due 2041  2 5.27% 752 751 Debentures—$120 million of 9.375% due 2021 9.41% 120 120 Debentures—$500 million of 2.600% due 2022  2 2.70% 499 498 Debentures—$82 million of 8.000% due 2023 8.06% 82 82 Debentures—$1,000 million of 3.400% due 2024 3.46% 998 997 Debentures—$193 million of 6.625% due 2028  2 6.68% 192 192 Debentures—$500 million of 2.600% due 2029  2 2.64% 497 — Debentures—$242 million of 7.300% due 2031  2 7.38% 240 240 Debentures—$307 million of 5.300% due 2035  2 8.64% 220 218 Debentures—$460 million of 6.050% due 2036  2 6.12% 456 456 Debentures—$65 million of 8.250% due 2038  2 8.38% 64 64 Debentures—$160 million of 6.950% due 2042  2 7.02% 158 158 Debentures—$1,722 million of 3.803% due 2042  2 6.39% 1,277 1,257 Debentures—$500 million of 4.300% due 2044 4.39% 493 493 Debentures—$1,000 million of 3.250% due 2049  2 3.37% 982 — Debentures—$500 million of 4.750% due 2064 4.81% 494 494 Debentures—$246 million of 7.375% due 2097  2 7.51% 241 241 Finance lease obligations & other  3 128 497 Total Machinery, Energy & Transportation 9,141 8,005 Financial Products: Medium-term notes 16,719 16,592 Other 421 403 Total Financial Products 17,140 16,995 Total long-term debt due after one year $ 26,281 $ 25,000 1 Effective yield to maturity includes the impact of discounts, premiums and debt issuance costs. 2 Redeemable at our option in whole or in part at any time at a redemption price equal to the greater of (i) 100% of the principal amount or (ii) the discounted present value of the notes or debentures, calculated in accordance with the terms of such notes or debentures. 3 2018 includes $360 million related to a financing transaction in Japan entered into in 2017 that was removed in 2019 due to the new lease accounting guidance adopted January 1, 2019. See Note 1J for additional information. All outstanding notes and debentures are unsecured and rank equally with one another. On September 19, 2019, we issued $1.0 billion of 3.250% Senior Notes due 2049 and $500 million of 2.600% Senior Notes due 2029. Cat Financial’s medium-term notes are offered by prospectus and are issued through agents at fixed and floating rates. Medium-term notes due after one year have a weighted average interest rate of 2.7% with remaining maturities up to 8 years at December 31, 2019. The above table includes $28.5 million of medium-term notes that can be called at par. 118