Nordstrom 2015 Annual Report Download - page 51

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NOTE 9:€€DEBT AND CREDIT FACILITIES
Debt
A summary of our long-term debt, including capital leases, is as follows:
January 30, 2016 January 31, 2015
Secured
Series 2011-1 Class•A Notes, 2.28%, due October 2016 $— $325
Mortgage payable, 7.68%, due April 2020 30 36
Other 57
€Total secured debt 35 368
Unsecured
Net of unamortized discount:
Senior notes, 6.25%, due January 2018 649 649
Senior notes, 4.75%, due May 2020 499 499
Senior notes, 4.00%, due October 2021 500 499
Senior debentures, 6.95%, due March 2028 300 300
Senior notes, 7.00%, due January 2038 146 146
Senior notes, 5.00%, due January 2044 600 598
Other 76 72
€Total unsecured debt 2,770 2,763
Total long-term debt 2,805 3,131
Less: current portion (10)(8)
Total due beyond one year $2,795 $3,123
As a condition of closing the credit card receivable transaction (see Note 2: Credit Card Receivable Transaction), we defeased•$325•in
secured Series 2011-1 Class A Notes in order to provide the receivables to TD free and clear. Prior to the close of our credit card receivable
transaction, all of our Nordstrom private label card receivables and a 90% interest in our Nordstrom Visa credit card receivables served as
collateral for our Series 2011-1 Class•A Notes.
Our mortgage payable is secured by an office building that had a net book value of $62 at the end of 2015. Other secured debt as of
January•30, 2016 and January•31, 2015 consisted primarily of capital lease obligations.
Required principal payments on long-term debt, excluding capital lease obligations, are as follows:
Fiscal year
2016 $8
2017 660
2018 56
2019 8
2020 502
Thereafter 1,614
Table of Contents
Nordstrom, Inc.
Notes to Consolidated Financial Statements
Dollar and share amounts in millions except per share, per option and per unit amounts
Nordstrom, Inc. and subsidiaries 51