8. Long-Term Obligations

Long-Term Debt

On March 12, 2007 we issued $500 million of 5.40% senior unsecured notes due on March 15, 2012 and $500 million of 5.75% senior unsecured notes due on March 15, 2017 (together, the Notes), for a total principal amount of $1 billion. We carried the Notes at face value less the unamortized discount of $2 million on our balance sheets at April 30, 2011 and July 31, 2010. Because their contractual maturities are now within one year, we transferred the March 2012 notes from long-term liabilities to current liabilities during the third quarter of fiscal 2011. The Notes are redeemable by Intuit at any time, subject to a make-whole premium. The Notes include covenants that limit our ability to grant liens on our facilities and to enter into sale and leaseback transactions, subject to significant allowances. We paid $56 million in cash for interest on the Notes during the nine months ended April 30, 2011 and April 30, 2010.

Other Long-Term Obligations

Other long-term obligations were as follows at the dates indicated:


	April 30,			July 31,
(In millions)	2011			2010

Total license fee payable	$	69		$	65
Total deferred rent		53			60
Long-term deferred revenue		39			29
Long-term income tax liabilities		40			20
Long-term payables		19			—
Other		2			3

Total long-term obligations		222			177
Less current portion (included in other current liabilities)		(18	)		(19	)

Long-term obligations due after one year	$	204		$	158