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Debt

6 Months Ended

Feb. 16, 2014

Note 4—Debt

The carrying value and estimated fair value of the Company’s long-term debt consisted of the following:



	February 16, 2014				September 1, 2013
	Carrying Value		Fair Value		Carrying Value		Fair Value
5.5% Senior Notes due March 2017	$	1,098	$	1,247	$	1,098	$	1,248
0.65% Senior Notes due December 2015	1,199		1,206		1,199		1,200
1.125% Senior Notes due December 2017	1,100		1,095		1,100		1,065
1.7% Senior Notes due December 2019	1,198		1,173		1,198		1,157
Other long-term debt	390		399		403		412
Long-term debt, excluding current portion	$	4,985	$	5,120	$	4,998	$	5,082

The estimated fair value of the Company’s debt was based primarily on reported market values, recently completed market transactions, and estimates based upon interest rates, maturities, and credit risk. Substantially all of the Company's long-term debt is classified as Level 2.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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