4. Debt

Long-term debt consists of the following unsecured senior debt:

							Outstanding
Maturity (Dollars in Millions)	Effective Rate			Coupon Rate			August 4, 2018		February 3, 2018 & July 29, 2017
2021		4.81	%		4.00	%	$	413	$	650
2023		3.25	%		3.25	%		350		350
2023		4.78	%		4.75	%		184		300
2025		4.25	%		4.25	%		650		650
2029		7.36	%		7.25	%		42		99
2033		6.05	%		6.00	%		112		166
2037		6.89	%		6.88	%		101		150
2045		5.57	%		5.55	%		435		450
		4.76	%				$	2,287	$	2,815

Long-term debt is net of unamortized debt discounts and deferred financing costs of $14 million at August 4, 2018, $18 million at February 3, 2018, and $19 million at July 29, 2017.

Our long-term debt is classified as Level 1, financial instruments with unadjusted, quoted prices listed on active market exchanges. The estimated fair value of our long-term debt was $2.3 billion at August 4, 2018 and $2.9 billion at both February 3, 2018 and July 29, 2017.

Year to date, we have reduced our outstanding debt by $528 million, including $500 million which was repurchased pursuant to a cash tender offer in the first quarter and $28 million which was repurchased on the open market during the second quarter. In conjunction with the debt reduction, we recorded a $42 million loss on extinguishment of debt which includes $35 million of premium paid to holders of the debt, $4 million related to an interest rate hedge, and $3 million of deferred financing fees and original issue discounts.