Debt consists of the following:



	June 27, 2015		March 28, 2015
	(millions)
$300 million 2.125% Senior Notes^(a)	$	297	$	298
Commercial paper notes	155		234
Total debt	452		532
Less: short-term debt	155		234
Total long-term debt	$	297	$	298

^(a)

During the first quarter of Fiscal 2016, the Company entered into an interest rate swap contract which it designated as a hedge against changes in the fair value of its fixed-rate Senior Notes (see Note 13). Accordingly, the carrying value of the Senior Notes as of June 27, 2015 reflects an adjustment of $2 million for the change in fair value attributable to the benchmark interest rate. The carrying value of the Senior Notes is also net of unamortized debt issuance costs of $1 million and $2 million as of June 27, 2015 and March 28, 2015, respectively.