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 (the 2012 Notes) and $500 million of 5.75% senior unsecured notes due on March 15, 2017 (the 2017 Notes) (together, the Notes), for a total principal amount of $1 billion. During the third quarter of fiscal 2012 we paid off the 2012 Notes when they became due using cash from operations. 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 April 30, 2012 and July 31, 2011. The 2017 Notes are redeemable by Intuit at any time, subject to a make-whole premium, and 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 $56 million in cash for interest on the Notes during the nine months ended April 30, 2012 and $56 million during the nine months ended April 30, 2011.

Other Long-Term Obligations

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



(In millions)	April 30, 2012			July 31, 2011
Total license fee payable	$	63		$	60
Total deferred rent	53			52
Long-term deferred revenue	42			40
Long-term income tax liabilities	43			42
Long-term payables	8			12
Other	4			1
Total long-term obligations	213			207
Less current portion (included in other current liabilities)	(18		)	(17		)
Long-term obligations due after one year	$	195		$	190