Note 4—Debt

During the first half of fiscal 2012, the Company's Japanese subsidiary issued 1.18% yen-denominated promissory notes through a private placement. These notes were issued in two series, with the first funding in October 2011 and the second funding occurring in December 2011. For both series, interest is payable semi-annually, and principal is due in October 2018. The Company guarantees these notes.

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


	February 12, 2012				August 28, 2011
	Carrying Value		Fair Value		Carrying Value		Fair Value
5.5% Senior Notes due March 2017	$	1,097	$	1,319	$	1,097	$	1,314
5.3% Senior Notes due March 2012		900		903		900		924
2.695% Promissory Notes Due October 2017		84		93		85		94
1.18% Fixed-rate Note Due October 2018		129		132		0		0
Other long-term debt		70		110		71		103

Total long-term debt		2,280		2,557		2,153		2,435
Less current portion		900		903		900		924

Long-term debt, excluding current portion	$	1,380	$	1,654	$	1,253	$	1,511

The current portion of long-term debt is comprised of the $900 5.3% Senior Notes due March 15, 2012. Upon maturity, the Company intends to repay the outstanding principal balance and associated interest with its existing liquidity sources of cash and cash equivalents and short-term investments.