Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2015

The following table provides maturity dates or ranges, year-to-date weighted average interest rates and amounts outstanding for our various debt securities and facilities that are included on our Consolidated Balance Sheets.



		December 31, 2015					December 31, 2014
Dollars in millions	Year(s) due	Weighted average interest rate ⁽¹⁾		Outstanding			Weighted average interest rate ⁽¹⁾		Outstanding
Short-term debt
Commercial paper - AGL Capital ⁽²⁾	2016	0.5	%	$	471		0.3	%	$	590
Commercial paper - Nicor Gas ⁽²⁾	2016	0.4		539			0.2		585
Total short-term debt		0.4	%	$	1,010		0.3	%	$	1,175
Current portion of long-term debt	2016	4.9	%	$	545		5.0	%	$	200
Long-term debt - excluding current portion
Senior notes	2018-2043	5.0	%	$	2,455		5.0	%	$	2,625
First mortgage bonds	2019-2038	5.9		375			5.6		500
Gas facility revenue bonds	2022-2033	0.9		200			0.9		200
Medium-term notes	2017-2027	7.8		181			7.8		181
Total principal long-term debt		4.9	%	$	3,211		4.9	%	$	3,506
Unamortized fair value adjustment of long-term debt ⁽³⁾	2016-2038	n/a		68			n/a		80
Unamortized debt premium, net	n/a	n/a		16			n/a		16
Unamortized debt issuance costs	n/a	n/a		(20		)	n/a		(21		)
Total non-principal long-term debt		n/a		64			n/a		75
Total long-term debt - excluding current portion				$	3,275				$	3,581
Total debt				$	4,830				$	4,956


(1)	Interest rates are calculated based on the daily weighted average balance outstanding for the years ended December 31, 2015 and 2014.


(2)	As of December 31, 2015, the effective interest rates on our commercial paper borrowings were 0.7% for AGL Capital and 0.5% for Nicor Gas.


(3)	See Note 5 herein for additional information on our fair value measurements.

Schedule of Maturities of Long-term Debt

The majority of our long-term debt matures after fiscal year 2020. The annual maturities of our long-term debt for the next five years and thereafter are as follows:



Year	Amount (in millions)
2016	$	545
2017	22
2018	155
2019	350
2020	—
Thereafter	2,684
Total	$	3,756

Schedule of Capitalization

The following table contains our debt-to-capitalization ratios as of December 31, which are below the maximum allowed.



	AGL Resources				Nicor Gas
	2015		2014		2015		2014
Debt covenants ⁽¹⁾	54	%	55	%	56	%	62	%


(1)	As defined in our credit facilities, includes standby letters of credit and performance/surety bonds and excludes accumulated OCI items related to non-cash pension adjustments, welfare benefits liability adjustments and accounting for cash flow hedges.