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DEBT OBLIGATIONS
 4 Months Ended
May 25, 2019
DEBT OBLIGATIONS  
DEBT OBLIGATIONS

2.DEBT OBLIGATIONS

 

Long-term debt consists of:

 

 

 

 

 

 

 

 

 

 

May 25,

 

February 2,

 

    

2019

    

2019

1.50% to 8.00% Senior Notes due through 2048

 

$

12,101

 

$

12,097

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

 

 

14

 

 

14

2.60% to 2.63% Commercial paper borrowings due through May 2019

 

 

100

 

 

800

3.37% Term Loan due 2019

 

 

 —

 

 

1,000

Other

 

 

446

 

 

440

 

 

 

 

 

 

 

Total debt, excluding obligations under finance leases

 

 

12,661

 

 

14,351

Less current portion

 

 

(1,405)

 

 

(3,103)

 

 

 

 

 

 

 

Total long-term debt, excluding obligations under finance leases

 

$

11,256

 

$

11,248

 

 

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 25, 2019 and February 2, 2019.  At May 25, 2019, the fair value of total debt was $12,856 compared to a carrying value of $12,661.  At February 2, 2019, the fair value of total debt was $14,190 compared to a carrying value of $14,351.