Nordstrom, Inc. Notes to Consolidated Financial Statements Dollar and share amounts in millions except per share, per option and per unit amounts Weighted-average assumptions used to determine our benefit obligation and SERP expense are as follows: As of January 31, 2015, the expected future benefit payments based upon the assumptions described above and including benefits  attributable to estimated future employee service are as follows: A summary of our long-term debt is as follows: All of our Nordstrom private label card receivables and a 90% interest in our Nordstrom Visa credit card receivables serve as collateral for our  Series 2011-1 Class A Notes. January 31, 2015 February 1, 2014 Secured Series 2011-1 Class A Notes, 2.28%, due October 2016 $325 $325 Mortgage payable, 7.68%, due April 2020 36 42 Other 7 9  Total secured debt 368 376 Unsecured Net of unamortized discount: Senior notes, 6.25%, due January 2018 649 648 Senior notes, 4.75%, due May 2020 499 499 Senior notes, 4.00%, due October 2021 499 499 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 598 595 Other 72 50  Total unsecured debt 2,763 2,737 Total long-term debt 3,131 3,113 Less: current portion (8) (7) Total due beyond one year $3,123 $3,106 Fiscal year 2015 $8 2016 9 2017 9 2018 9 2019 10 2020 – 2024 59 Fiscal year 2014 2013 2012 Assumptions used to determine benefit obligation: Discount rate 3.70% 4.60% 4.30% Rate of compensation increase 3.00% 3.00% 3.00% Assumptions used to determine SERP expense: Discount rate 4.60% 4.30% 4.50% Rate of compensation increase 3.00% 3.00% 3.00% Assumptions Future Benefit Payments and Contributions NOTE 8: DEBT AND CREDIT FACILITIES Debt 52