Debt

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



					Outstanding
Maturity	Effective Rate		Coupon Rate		October 29, 2016			January 30, 2016			October 31, 2015
					(Dollars in Millions)
2021	4.81	%	4.00	%	$	650		$	650		$	650
2023	3.25	%	3.25	%	350			350			350
2023	4.78	%	4.75	%	300			300			300
2025	4.25	%	4.25	%	650			650			650
2029	7.36	%	7.25	%	99			99			99
2033	6.05	%	6.00	%	166			166			166
2037	6.89	%	6.88	%	150			150			150
2045	5.57		5.55		450			450			450
	4.88	%			2,815			2,815			2,815
Unamortized debt discount					(5		)	(5		)	(5		)
Deferred financing costs					(16		)	(18		)	(18		)
Long-term debt					$	2,794		$	2,792		$	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 $3.0 billion at October 29, 2016, $2.8 billion at January 30, 2016, and $2.9 billion at October 31, 2015.