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DEBT OBLIGATIONS | 6 Months Ended
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Aug. 18, 2018
DEBT OBLIGATIONS |
DEBT OBLIGATIONS | 3.DEBT OBLIGATIONS Long-term debt consists of:
|  | August 18, |  | February 3, |
|  | 2018 |  | 2018 |
1.50% to 8.00% Senior Notes due through 2048 |  | $ | 12,008 |  | $ | 12,201 |
5.63% to 12.75% Mortgages due in varying amounts through 2027 |  |  | 15 |  |  | 22 |
2.17% Commercial paper borrowings |  |  | 175 |  |  | 2,121 |
2.92% Term Loan due 2019 |  |  | 1,000 |  |  | — |
Other |  |  | 443 |  |  | 443 |
Total debt, excluding capital leases and financing obligations |  |  | 13,641 |  |  | 14,787 |
Less current portion |  |  | (2,358) |  |  | (3,509) |
Total long-term debt, excluding capital leases and financing obligations |  | $ | 11,283 |  | $ | 11,278 |
The fair value of the Company’s long-term debt, including current maturities, was estimated based on the quoted market prices for the same or similar issues adjusted for illiquidity based on available market evidence. If quoted market prices were not available, the fair value was based upon the net present value of the future cash flow using the forward interest rate yield curve in effect at August 18, 2018 and February 3, 2018. At August 18, 2018, the fair value of total debt was $13,721 compared to a carrying value of $13,641. At February 3, 2018, the fair value of total debt was $15,167 compared to a carrying value of $14,787. In the first quarter of 2018, the Company obtained a $1,000 term loan with a maturity date of March 16, 2019. The funds were drawn on March 26, 2018 and were used to reduce outstanding commercial paper borrowings. Under the terms of the agreement, interest rates are adjusted monthly based on the Company’s Public Debt Rating and prevailing LIBOR rates. Additionally, in the first quarter of 2018, the Company repaid, upon maturity, $200 of senior notes bearing an interest rate of 7%.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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