Note 4—Debt

In October 2011, the Company's Japanese subsidiary issued promissory notes through a private placement in the amount of $78, bearing interest at 1.18%. These yen-denominated notes are being issued in two series, with another funding scheduled to occur on December 20, 2011, in the amount of $52. 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 long-term debt consisted of the following:


	November 20, 2011				August 28, 2011
	Carrying Value		Fair Value		Carrying Value		Fair Value
5.5% Senior Notes due March 2017	$	1,097	$	1,317	$	1,097	$	1,314
5.3% Senior Notes due March 2012		900		913		900		924
2.695% Promissory Notes due October 2017		85		95		85		94
1.18% Fixed-rate Note Due October 2018		78		80		0		0
0.35% over Yen TIBOR (6-month) Term Loan due June 2018		39		39		39		39
3.5% Zero Coupon Notes due August 2017		30		69		31		63
Other long-term debt		1		1		1		1

Total long-term debt		2,230		2,514		2,153		2,435
Less current portion		900		913		900		924

Long-term debt, excluding current portion	$	1,330	$	1,601	$	1,253	$	1,511