G. DEBT

Debt consisted of the following:


			December 31, 2011		April 1, 2012

Fixed-rate notes due:	Interest Rate
May 2013	4.250	%	$	1,000	$	1,000
February 2014	5.250	%		998		998
January 2015	1.375	%		499		499
August 2015	5.375	%		400		400
July 2016	2.250	%		499		499
July 2021	3.875	%		499		499
Other	Various			35		13

Total debt				3,930		3,908
Less current portion				23		3

Long-term debt			$	3,907	$	3,905

Fixed-rate Notes. On April 1, 2012, we had outstanding $3.9 billion aggregate principal amount of fixed-rate notes. The fixed-rate notes are fully and unconditionally guaranteed by several of our 100-percent-owned subsidiaries. See Note N for condensed consolidating financial statements. We have the option to redeem the notes prior to their maturity in whole or part for the principal plus any accrued but unpaid interest and applicable make-whole amounts.

Commercial Paper. On April 1, 2012, we had no commercial paper outstanding, but we maintain the ability to access the market. We have $2 billion in bank credit facilities that provide backup liquidity to our commercial paper program. These credit facilities include a $1 billion multi-year facility expiring in July 2013 and a $1 billion multi-year facility expiring in July 2016. These facilities are required by rating agencies to support our commercial paper issuances. We may renew or replace, in whole or in part, these credit facilities prior to their expiration. Our commercial paper issuances and the bank credit facilities are guaranteed by several of our 100-percent-owned subsidiaries.

Our financing arrangements contain a number of customary covenants and restrictions. We were in compliance with all material covenants on April 1, 2012.