Note 4—Debt

In December 2012, the Company issued $3,500 in aggregate principal amount of Senior Notes as follows:


•	$1,200 of 0.65% Senior Notes is due December 7, 2015. Interest is due semi-annually on June 7 and December 7, with the first payment due on June 7, 2013;


•	$1,100 of 1.125% Senior Notes is due December 15, 2017. Interest is due semi-annually on June 15 and December 15, with the first payment due on June 15, 2013; and


•	$1,200 of 1.7% Senior Notes is due December 15, 2019. Interest is due semi-annually on June 15 and December 15, with the first payment due on June 15, 2013.

In May 2013, the Company’s Japanese subsidiary issued approximately $98 of 1.05% promissory notes through a private placement. Interest is payable semiannually, and principal is due in May 2023. These notes are included in other long-term debt in the table below and are classified as a Level 3 measurement.

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



	May 12, 2013				September 2, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
5.5% Senior Notes due March 2017	$	1,098	$	1,289	$	1,097	$	1,325
0.65% Senior Notes due December 2015	1,199		1,203		0		0
1.125% Senior Notes due December 2017	1,100		1,103		0		0
1.7% Senior Notes due December 2019	1,197		1,208		0		0
Other long-term debt	293		303		285		338
Total long-term debt	4,887		5,106		1,382		1,663
Less current portion	0		0		1		1
Long-term debt, excluding current portion	$	4,887	$	5,106	$	1,381	$	1,662

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. Substantially all of the Company's long-term debt is classified as Level 2.