Debt and Credit Facilities

12 Months Ended

Apr. 30, 2018

Our long-term debt (net of unamortized discounts and issuance costs) consisted of:



April 30,	2017		2018
1.00% senior notes, $250 principal amount, due January 15, 2018	$	249	$	—
2.25% senior notes, $250 principal amount, due January 15, 2023	248		248
3.50% senior notes, $300 principal amount, due April 15, 2025	—		296
1.20% senior notes, €300 principal amount, due July 7, 2026	324		361
2.60% senior notes, £300 principal amount, due July 7, 2028	383		408
4.00% senior notes, $300 principal amount, due April 15, 2038	—		293
3.75% senior notes, $250 principal amount, due January 15, 2043	248		248
4.50% senior notes, $500 principal amount, due July 15, 2045	486		487
	1,938		2,341
Less current portion	249		—
	$	1,689	$	2,341

Debt payments required over the next five fiscal years consist of $0 in 2019, $0 in 2020, $0 in 2021, $0 in 2022, $250 in 2023, and $2,127 after 2023.

The senior notes contain terms and covenants customary of these types of unsecured securities, including limitations on the amount of secured debt we can issue.

We issued senior, unsecured notes with an aggregate principal amount of $300 in March 2018. Interest on these notes will accrue at a rate of 3.50% and be paid semiannually. As of April 30, 2018, the carrying amount of these notes was $296 ($300 principal, less unamortized discounts and issuance costs). These notes are due on April 15, 2025.

In addition, we issued senior, unsecured notes with an aggregate principal amount of $300 in March 2018. Interest on these notes will accrue at a rate of 4.00% and be paid semiannually. As of April 30, 2018, the carrying amount of these notes was $293 ($300 principal, less unamortized discounts and issuance costs). These notes are due on April 15, 2038.

As of April 30, 2017, our short-term borrowings of $211 included $208 of commercial paper, with an average interest rate of 1.04%, and an average remaining maturity of 22 days. As of April 30, 2018, our short-term borrowings consisted of $215 of commercial paper, with an average interest rate of 2.04%, and an average remaining maturity of 23 days.

We have a committed revolving credit agreement with various U.S. and international banks for $800 that expires in November 2022. At April 30, 2018, there were no borrowings outstanding under this facility.