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

12 Months Ended

Dec. 31, 2017

Debt Issuances. During the year ended December 31, 2017, CERC issued the following unsecured senior notes:



Issuance Date	Aggregate Principal Amount		Interest Rate	Maturity Date
	(in millions)
August 2017	$	300	4.10%	2047



	December 31, 2017					December 31, 2016
	Long-Term			Current (1)		Long-Term			Current (1)
	(in millions)
Short-term borrowings:
Inventory financing (2)	$	—		$	39	$	—		$	35
Total short-term borrowings	—			39		—			35
Long-term debt:
Senior notes 4.10% to 6.625% due 2021 to 2047	1,593			—		1,593			250
Commercial paper (3)	898			—		569			—
Unamortized debt issuance costs	(12		)	—		(10		)	—
Unamortized discount and premium, net	(22		)	—		(27		)	—
Total long-term debt	2,457			—		2,125			250
Total debt	$	2,457		$	39	$	2,125		$	285


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

(2)

NGD has AMAs associated with its utility distribution service in Arkansas, Louisiana, Mississippi, Oklahoma and Texas. The AMAs have varying terms, the longest of which expires in 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.


(3)	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, 2017 and 2016, CERC had the following revolving credit facility and utilization of such facility:



December 31, 2017									December 31, 2016
Size of Facility		Loans		Letters of Credit		Commercial Paper			Size of Facility		Loans		Letters of Credit		Commercial Paper
(in millions)
$	900	$	—	$	1	$	898	(1)	$	600	$	—	$	4	$	569	(1)


(1)	Weighted average interest rate was approximately 1.72% and 1.03% as of December 31, 2017 and December 31, 2016, respectively.



Execution Date	Size of Facility			Draw Rate of LIBOR plus (2)		Financial Covenant Limit on Debt for Borrowed Money to Capital Ratio		Debt for Borrowed Money to Capital Ratio as of December 31, 2017	Termination Date (3)
	(in millions)
March 3, 2016	$	900	(1)	1.25	%	65	%	40.4%	March 3, 2022


(1)	Amended on June 16, 2017 to increase the aggregate commitment size as noted above.


(2)	Based on current credit ratings.


(3)	Amended on June 16, 2017 to extend the termination date as noted above.

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

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



	(in millions)
2018	$	—
2019	—
2020	—
2021	593
2022	898