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Debt

9 Months Ended

Oct. 27, 2012

Long-term debt consists of the following non-callable and unsecured senior debt:



	October 27, 2012					January 28, 2012					October 29, 2011
Maturing	Effective Rate		Out- standing			Effective Rate		Out- standing			Effective Rate		Out- standing
	(Dollars in Millions)
2017	6.31	%	$	650		6.31	%	$	650		6.31	%	$	650
2021	4.81	%	650			4.81	%	650			4.81	%	650
2023	3.25	%	350			—		—			—		—
2029	7.36	%	200			7.36	%	200			7.36	%	200
2033	6.05	%	300			6.05	%	300			6.05	%	300
2037	6.89	%	350			6.89	%	350			6.89	%	350
Total senior debt	5.63	%	2,500			6.01	%	2,150			6.01	%	2,150
Unamortized debt discount			(8		)			(9		)			(9		)
Long-term debt			$	2,492				$	2,141				$	2,141

In September 2012, we issued $350 million of 3.25% notes with semi-annual interest payments beginning February 2013. The notes mature on February 1, 2023.

- 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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