Debt and Credit Facilities

12 Months Ended

Apr. 30, 2021

Our long-term debt (net of unamortized discounts and issuance costs) consisted of:


April 30,	2020		2021
2.25% senior notes, $250 principal amount, due January 15, 2023	$	249	$	249
3.50% senior notes, $300 principal amount, due April 15, 2025	297		298
1.20% senior notes, €300 principal amount, due July 7, 2026	324		362
2.60% senior notes, £300 principal amount, due July 7, 2028	369		415
4.00% senior notes, $300 principal amount, due April 15, 2038	294		294
3.75% senior notes, $250 principal amount, due January 15, 2043	248		248
4.50% senior notes, $500 principal amount, due July 15, 2045	488		488

	$	2,269	$	2,354

Debt payments required over the next five fiscal years consist of $0 in 2022, $250 in 2023, $0 in 2024, $300 in 2025, $0 in 2026, and $1,832 after 2026.

The senior notes contain terms, events of default, and covenants customary of these types of unsecured securities, including limitations on the amount of secured debt we can issue.

Our short-term borrowings of $333 as of April 30, 2020, and $205 as of April 30, 2021, consisted primarily of borrowings under our commercial paper program:


April 30,	2020	2021
Commercial paper	$333	$195
Average interest rate	1.29%	0.16%
Average remaining days to maturity	73	24

We have a committed revolving credit agreement with various U.S. and international banks for $800 that expires in November 2023. At April 30, 2021, there were no borrowings outstanding under this facility.