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DEBT OBLIGATIONS

6 Months Ended

Aug. 11, 2012

DEBT OBLIGATIONS

DEBT OBLIGATIONS

3. DEBT OBLIGATIONS

Long-term debt consists of:

		August 11,			January 28,
		2012			2012
2.20% to 8.00% Senior Notes due through 2042		$	7,087		$	7,078
5.00% to 9.50% Mortgages due in varying amounts through 2034		58			65
Commercial paper borrowings		360			370
Other		198			230

Total debt, excluding capital leases and financing obligations		7,703			7,743

Less current portion		(1,299		)	(1,275		)

Total long-term debt, excluding capital leases and financing obligations		$	6,404		$	6,468

In the first quarter of 2012, the Company issued $500 of senior notes due in fiscal year 2022 bearing an interest rate of 3.40% and $350 of senior notes due in fiscal year 2042 bearing an interest rate of 5.00%. In the first quarter of 2012, the Company repaid $491 of senior notes bearing an interest rate of 6.75% upon their maturity.

In the second quarter of 2012, the Company repaid $346 of senior notes bearing an interest rate of 6.20% upon their maturity.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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