LONG-TERM DEBT

In November 2012, we issued $3.0 billion of unsecured senior notes in three tranches as described in the table below (collectively, the “Notes”). As of June 30, 2014, and December 31, 2013, the unamortized discount on the Notes was $21 million and $23 million. We also have other long-term debt with a carrying amount, including the current portion, of $1.0 billion and $967 million as of June 30, 2014 and December 31, 2013. The face value of our total long-term debt obligations is as follows (in millions):



	June 30, 2014			December 31, 2013
0.65% Notes due on November 27, 2015	$	750		$	750
1.20% Notes due on November 29, 2017	1,000			1,000
2.50% Notes due on November 29, 2022	1,250			1,250
Other long-term debt	1,000			967
Total debt	4,000			3,967
Less current portion of long-term debt	(860		)	(753		)
Face value of long-term debt	$	3,140		$	3,214

The effective interest rates of the 2015, 2017, and 2022 Notes were 0.84%, 1.38%, and 2.66%. Interest on the Notes is payable semi-annually in arrears in May and November. We may redeem the Notes at any time in whole, or from time to time, in part at specified redemption prices. We are not subject to any financial covenants under the Notes. We used the net proceeds from the issuance of the Notes for general corporate purposes. The estimated fair value of the Notes was approximately $2.9 billion as of June 30, 2014 and December 31, 2013, which is based on quoted prices for our publicly-traded debt as of those dates.

The other debt, including the current portion, had a weighted average interest rate of 5.6% and 5.5% as of June 30, 2014 and December 31, 2013. We used the net proceeds from the issuance of the debt to primarily fund certain international operations. The estimated fair value of the other long-term debt, which is based on Level 2 inputs, approximated its carrying value as of June 30, 2014 and December 31, 2013.