Debt

The following table summarizes components of our debt:



(In millions, except percentages)	September 29, 2017			March 31, 2017			Effective Interest Rate
2.75% Senior Notes due June 15, 2017	$	—		$	600		2.79	%
Senior Term Loan A-1 due May 10, 2019	800			1,000			LIBOR plus ⁽¹⁾
Senior Term Loan A-2 due August 1, 2019	800			800			LIBOR plus ⁽¹⁾
Senior Term Loan A-3 due August 1, 2019	200			200			LIBOR plus ⁽¹⁾
4.2% Senior Notes due September 15, 2020	750			750			4.25	%
2.5% Convertible Senior Notes due April 1, 2021	500			500			3.76	%
Senior Term Loan A-5 due August 1, 2021	500			1,710			LIBOR plus ⁽¹⁾
2.0% Convertible Senior Notes due August 15, 2021	1,250			1,250			2.66	%
3.95% Senior Notes due June 15, 2022	400			400			4.05	%
5.0% Senior Notes due April 15, 2025	1,100			1,100			5.23	%
Total principal amount	6,300			8,310
Less: Unamortized discount and issuance costs	(91		)	(124		)
Total debt	6,209			8,186
Less: Current portion	(130		)	(1,310		)
Total long-term portion	$	6,079		$	6,876


(1)	The senior term facilities bear interest at a rate equal to the London Interbank Offered Rate (“LIBOR”) plus a margin of 1.50% to 1.75% based on the current debt rating of our non-credit-enhanced, senior unsecured long-term debt and our underlying loan agreements.

Based on the closing price of our common stock of $32.81 on September 29, 2017, the if-converted values of our 2.5% and 2.0% Convertible Senior Notes exceed the principal amount by approximately $478 million and $759 million, respectively.

The following table sets forth total interest expense recognized related to our 2.5% and 2.0% Convertible Senior Notes:



	Three Months Ended				Six Months Ended
(In millions)	September 29, 2017		September 30, 2016		September 29, 2017		September 30, 2016
Contractual interest expense	$	9	$	7	$	19	$	10
Amortization of debt discount and issuance costs	$	4	$	3	$	8	$	6

As of September 29, 2017, the future maturities of debt by fiscal year are as follows:



(In millions)	September 29, 2017
Remainder of 2018	$	130
2019	—
2020	1,670
2021	1,250
2022	1,750
Thereafter	1,500
Total future maturities of debt	$	6,300

Debt repayments

During the first quarter of fiscal 2018, we prepaid principal amounts of $1.2 billion of our Senior Term Loan A-5 and $200 million of our Senior Term Loan A-1. We also repaid in cash at maturity the $600 million remaining principal balance of our 2.75% Senior Notes due June 15, 2017.