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Debt

3 Months Ended

May 02, 2015

Long-term debt consists of the following unsecured senior debt:



					Outstanding
Maturity	Effective Rate		Coupon Rate		May 2, 2015 and January 31, 2015			May 3, 2014
					(Dollars in Millions)
2017	6.31	%	6.25	%	$	650		$	650
2021	4.81	%	4.00	%	650			650
2023	3.25	%	3.25	%	350			350
2023	4.78	%	4.75	%	300			300
2029	7.36	%	7.25	%	200			200
2033	6.05	%	6.00	%	300			300
2037	6.89	%	6.88	%	350			350
	5.54	%			2,800			2,800
Unamortized debt discount					(7		)	(8		)
Long-term debt					$	2,793		$	2,792

ASC No. 820, Fair Value Measurements and Disclosures, requires fair value measurements be classified in various pricing categories. Our long-term debt is classified as Level 1, financial instruments with unadjusted, quoted prices listed on active market exchanges. The estimated fair value of our long-term debt was $3.1 billion at May 2, 2015, January 31, 2015 and May 3, 2014.

- Definition

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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