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DEBT OBLIGATIONS
 4 Months Ended
May 20, 2017
DEBT OBLIGATIONS  
DEBT OBLIGATIONS

2.DEBT OBLIGATIONS

 

Long-term debt consists of:

 

 

 

 

 

 

 

 

 

 

 

May 20,

 

January 28,

 

 

    

2017

    

2017

 

1.50% to 8.00% Senior Notes due through 2047

 

$

11,313

 

$

11,311

 

5.63% to 12.75% Mortgages due in varying amounts through 2027

 

 

36

 

 

38

 

0.91% to 1.15% Commercial paper borrowings due through May 2017

 

 

880

 

 

1,425

 

Other

 

 

473

 

 

541

 

 

 

 

 

 

 

 

 

Total debt, excluding capital leases and financing obligations

 

 

12,702

 

 

13,315

 

Less current portion

 

 

(1,800)

 

 

(2,197)

 

 

 

 

 

 

 

 

 

Total long-term debt, excluding capital leases and financing obligations

 

$

10,902

 

$

11,118

 

 

 

The fair value of the Company’s long-term debt, including current maturities, was estimated based on the quoted market prices for the same or similar issues adjusted for illiquidity based on available market evidence.  If quoted market prices were not available, the fair value was based upon the net present value of the future cash flow using the forward interest rate yield curve in effect at May 20, 2017 and January 28, 2017.  At May 20, 2017, the fair value of total debt was $13,369 compared to a carrying value of $12,702.  At January 28, 2017, the fair value of total debt was $13,905 compared to a carrying value of $13,315.