Long-term debt consists of the following: On January 22, 2020, we completed the redemption of all $500 out standing aggregate principal amount o f our 4.25% Senior Notes due 2021. On January 24, 2020, we settled tender offers to purchase $1,200 in aggregate principal amount of certain senior unsecured debt, comprising $329 of 3.30% Senior Notes due 2021, $634 of 3.65% Senior Notes due 2023, and $237 of 3.80% Senior Notes due 2043. The consideration for the redemption and the tender offers was $1,765, including $65 of premium. We recognized a loss of $75 (including $65 of premium, fees and other costs paid with the tender offers and unamortized debt issuance costs), which was recorded in Interest expense in the Consolidated Statement of Earnings. In addition, we paid accrued and unpaid interest on the purchased notes through the dates of settlement. In 2020, we also repaid our $499 Senior Term Loan due 2021. On April 24, 2020, we issued senior notes in an aggregate principal amount of $1,000, consisting of $500 aggregate principal amount of notes bearing interest at a fixed rate of 2.375% per annum, due April 24, 2030, and $500 aggregate principal amount of notes bearing interest at a fixed rate of 3.125% per annum, due April 24, 2050. On May 1, 2020, we used $300 of the net proceeds to repay $300 of borrowings outstanding under our revolving credit facility. The 2.375% Senior Notes due 2030 and the 3.125% Senior Notes due 2050 may each be redeemed at the applicable redemption price, in whole or in part, at our option at any time and from time to time prior to January 24, 2030, and October 24, 2049, respectively. Interest on each of the notes is due semi-annually on April 24 and October 24, commencing on October 24, 2020. The notes contain customary covenants and events of default. If a change of control triggering event occurs, we will be required to offer to purchase the notes at a purchase price equal to 101% of the principal amount plus accrued and unpaid interest, if any, to the purchase date. Principal amounts of long-term debt mature as follows: $4 in 2022; $1,019 in 2023; $0 in 2024; $1,150 in 2025; and a total of $2,863 in periods thereafter. As of July 28, 2019, we had long-term debt of $6 reflected in Noncurrent liabilities of discontinued operations. The principal market risks to which we are exposed are changes in foreign currency exchange rates, interest rates, and commodity prices. In addition, we are exposed to equity price changes related to certain deferred compensation obligations. In order to manage these exposures, we follow established risk management policies and procedures, including the use of derivative contracts such as swaps, rate locks, options, forwards and commodity futures. We enter into these derivative 70 15. Financial Instruments (1) Includes unamortized net discount/premium on debt issuances and debt issuance costs. Type Fiscal Year of Maturity Rate 2020 2019 Notes 2020 Variable $ — $ 500  Notes 2021 Variable 400 400  Senior Term Loan 2021 Variable — 499  Notes 2021 3.30% 321 650  Notes 2021 4.25% — 500  Debentures 2021 8.875% 200 200  Notes 2023 2.50% 450 450  Notes 2023 3.65% 566 1,200  Notes 2025 3.95% 850 850  Notes 2025 3.30% 300 300  Notes 2028 4.15% 1,000 1,000  Notes 2030 2.375% 500 —  Notes 2043 3.80% 163 400  Notes 2048 4.80% 700 700  Notes 2050 3.125% 500 —  Finance leases 7 3  Other (1) (42) (49) Total $ 5,915 $ 7,603  Less current portion 921 500  Total long-term debt $ 4,994 $ 7,103 