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 in current portion of long-term debt and long-term debt on our balance sheets at October 31, 2011 and July 31, 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 $28 million in cash for interest on the Notes during the three months ended October 31, 2011 and October 31, 2010.

Other Long-Term Obligations

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



(In millions)	October 31, 2011			July 31, 2011
Total license fee payable	$	61		$	60
Total deferred rent	52			52
Long-term deferred revenue	40			40
Long-term income tax liabilities	40			42
Long-term payables	10			12
Other	1			1
Total long-term obligations	204			207
Less current portion (included in other current liabilities)	(17		)	(17		)
Long-term obligations due after one year	$	187		$	190