Short-term Borrowings and Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2016



	December 31, 2016					December 31, 2015
	Long-Term			Current (1)		Long-Term (2)			Current (1)
	(in millions)
Short-term borrowings:
Inventory financing (3)	$	—		$	35	$	—		$	40
Total short-term borrowings	—			35		—			40
Long-term debt:
Senior notes 4.50% to 6.625% due 2017 to 2041	1,593			250		1,843			325
Commercial paper (4)	569			—		219			—
Unamortized debt issuance costs	(10		)	—		(12		)	—
Unamortized discount and premium	(27		)	—		(34		)	—
Total long-term debt	2,125			250		2,016			325
Total debt	$	2,125		$	285	$	2,016		$	365


(1)	Includes amounts due or exchangeable within one year of the date noted.


(2)	Includes $12 million of unamortized debt issuance costs to reflect adoption of ASU 2015-03.

(3)

NGD currently has AMAs associated with its utility distribution service in Arkansas, north Louisiana and Oklahoma that extend through 2020. Pursuant to the provisions of the agreements, NGD sells natural gas and agrees to repurchase an equivalent amount of natural gas during the winter heating seasons at the same cost, plus a financing charge. These transactions are accounted for as an inventory financing.


(4)	Classified as long-term debt because the termination date of the facility that backstops the commercial paper is more than one year from the date noted.

Schedule of Line of Credit Facilities [Table Text Block]

As of December 31, 2016 and 2015, CERC had the following revolving credit facility and utilization of such facility:



		December 31, 2016							December 31, 2015
Size of Facility		Loans		Letters of Credit		Commercial Paper			Loans		Letters of Credit		Commercial Paper
(in millions)
$	600	$	—	$	4	$	569	(1)	$	—	$	2	$	219	(1)


(1)	Weighted average interest rate was approximately 1.03% and 0.81% as of December 31, 2016 and 2015, respectively.

Execution Date

Size of

Facility

Draw Rate of LIBOR plus (1)

Financial Covenant Limit on Debt to Capital Ratio

Debt to Capital

Ratio as of December 31, 2016

Termination Date

(in millions)

March 3, 2016

600

1.25%

65%

35.8%

March 3, 2021


(1)	Based on current credit ratings.

Schedule of Maturities of Long-term Debt [Table Text Block]

CERC Corp. has the following long-term debt maturities:



	(in millions)
2017	$	250
2018	300
2019	—
2020	—
2021	1,162