Debt Obligations (Tables)

12 Months Ended

Dec. 31, 2017

Debt Obligations [Abstract]

Consolidated Debt Obligations

The following table presents our consolidated debt obligations (arranged by company and maturity date) at the dates indicated:

	December 31,
	2017			2016
EPO senior debt obligations:
Commercial Paper Notes, variable-rates	$	1,755.7		$	1,777.2
Senior Notes L, 6.30% fixed-rate, due September 2017		--			800.0
Senior Notes V, 6.65% fixed-rate, due April 2018		349.7			349.7
Senior Notes OO, 1.65% fixed-rate, due May 2018		750.0			750.0
364-Day Revolving Credit Agreement, variable-rate, due September 2018		--			--
Senior Notes N, 6.50% fixed-rate, due January 2019		700.0			700.0
Senior Notes LL, 2.55% fixed-rate, due October 2019		800.0			800.0
Senior Notes Q, 5.25% fixed-rate, due January 2020		500.0			500.0
Senior Notes Y, 5.20% fixed-rate, due September 2020		1,000.0			1,000.0
Senior Notes RR, 2.85% fixed-rate, due April 2021		575.0			575.0
Senior Notes CC, 4.05% fixed-rate, due February 2022		650.0			650.0
Multi-Year Revolving Credit Facility, variable-rate, due September 2022		--			--
Senior Notes HH, 3.35% fixed-rate, due March 2023		1,250.0			1,250.0
Senior Notes JJ, 3.90% fixed-rate, due February 2024		850.0			850.0
Senior Notes MM, 3.75% fixed-rate, due February 2025		1,150.0			1,150.0
Senior Notes PP, 3.70% fixed-rate, due February 2026		875.0			875.0
Senior Notes SS, 3.95% fixed-rate, due February 2027		575.0			575.0
Senior Notes D, 6.875% fixed-rate, due March 2033		500.0			500.0
Senior Notes H, 6.65% fixed-rate, due October 2034		350.0			350.0
Senior Notes J, 5.75% fixed-rate, due March 2035		250.0			250.0
Senior Notes W, 7.55% fixed-rate, due April 2038		399.6			399.6
Senior Notes R, 6.125% fixed-rate, due October 2039		600.0			600.0
Senior Notes Z, 6.45% fixed-rate, due September 2040		600.0			600.0
Senior Notes BB, 5.95% fixed-rate, due February 2041		750.0			750.0
Senior Notes DD, 5.70% fixed-rate, due February 2042		600.0			600.0
Senior Notes EE, 4.85% fixed-rate, due August 2042		750.0			750.0
Senior Notes GG, 4.45% fixed-rate, due February 2043		1,100.0			1,100.0
Senior Notes II, 4.85% fixed-rate, due March 2044		1,400.0			1,400.0
Senior Notes KK, 5.10% fixed-rate, due February 2045		1,150.0			1,150.0
Senior Notes QQ, 4.90% fixed-rate, due May 2046		975.0			975.0
Senior Notes NN, 4.95% fixed-rate, due October 2054		400.0			400.0
TEPPCO senior debt obligations:
TEPPCO Senior Notes, 6.65% fixed-rate, due April 2018		0.3			0.3
TEPPCO Senior Notes, 7.55% fixed-rate, due April 2038		0.4			0.4
Total principal amount of senior debt obligations		21,605.7			22,427.2
EPO Junior Subordinated Notes A, fixed/variable-rate, due August 2066 (1)		521.1			521.1
EPO Junior Subordinated Notes C, fixed/variable-rate, due June 2067 (2)		256.4			256.4
EPO Junior Subordinated Notes B, fixed/variable-rate, due January 2068 (3)		682.7			682.7
EPO Junior Subordinated Notes D, fixed/variable-rate, due August 2077 (4)		700.0			--
EPO Junior Subordinated Notes E, fixed/variable-rate, due August 2077 (5)		1,000.0			--
TEPPCO Junior Subordinated Notes, fixed/variable-rate, due June 2067		14.2			14.2
Total principal amount of senior and junior debt obligations		24,780.1			23,901.6
Other, non-principal amounts		(211.4	)		(203.9	)
Less current maturities of debt		(2,855.0	)		(2,576.8	)
Total long-term debt	$	$ 21,713.7		$	$ 21,120.9
(1)   Variable rate is reset quarterly and based on 3-month LIBOR plus 3.708%. (2)   Fixed rate of 7.000% through May 31, 2017; thereafter, a variable rate reset quarterly and based on 3-month LIBOR plus 2.778%. (3)   Fixed rate of 7.034% through January 14, 2018; thereafter, the rate will be the greater of 7.034% or a variable rate reset quarterly and based on 3-month LIBOR plus 2.680%. These notes are expected to be redeemed in March 2018 (see Note 22). (4)   Fixed rate of 4.875% through August 15, 2022; thereafter, a variable rate reset quarterly and based on 3-month LIBOR plus 2.986%. (5)   Fixed rate of 5.250% through August 15, 2027; thereafter, a variable rate reset quarterly and based on 3-month LIBOR plus 3.033%.

Interest Rates and Weighted-Average Interest Rates Paid on Consolidated Variable-Rate Debt Obligations

The following table presents the range of interest rates and weighted-average interest rates paid on our consolidated variable-rate debt during the year ended December 31, 2017:

	Range of Interest Rates Paid	Weighted-Average Interest Rate Paid
Commercial Paper Notes	0.90% to 1.80%	1.34%
Multi-Year Revolving Credit Facility	2.23% to 2.23%	2.23%
EPO Junior Subordinated Notes A	4.59% to 5.08%	4.89%
EPO Junior Subordinated Notes C	3.98% to 4.26%	4.07%

Consolidated Debt Maturities

The following table presents contractually scheduled maturities of our consolidated debt obligations outstanding at December 31, 2017 for the next five years, and in total thereafter:

			Scheduled Maturities of Debt
	Total		2018		2019		2020		2021		2022		Thereafter
Commercial Paper Notes	$	1,755.7	$	1,755.7	$	--	$	--	$	--	$	--	$	--
Senior Notes		19,850.0		1,100.0		1,500.0		1,500.0		575.0		650.0		14,525.0
Junior Subordinated Notes		3,174.4		--		--		--		--		--		3,174.4
Total	$	24,780.1	$	2,855.7	$	1,500.0	$	1,500.0	$	575.0	$	650.0	$	17,699.4

Junior Subordinated Notes Interest Rate Terms

The following table summarizes the interest rate terms of our junior subordinated notes:

Series	Fixed Annual Interest Rate	Variable Annual Interest Rate Thereafter
EPO Junior Subordinated Notes A	8.375% through July 31, 2016(1)	3-month LIBOR rate + 3.708%  (6)
EPO Junior Subordinated Notes B	7.034% through January 14, 2018 (2)	Greater of:  (i) 3-month LIBOR rate + 2.680% or (ii) 7.034%  (7)
EPO Junior Subordinated Notes C	7.000% through May 31, 2017 (3)	3-month LIBOR rate + 2.778% (8)
EPO Junior Subordinated Notes D	4.875% through August 15, 2022 (4)	3-month LIBOR rate + 2.986% (9)
EPO Junior Subordinated Notes E	5.250% through August 15, 2027 (5)	3-month LIBOR rate + 3.033% (10)
(1)   Interest is payable semi-annually in arrears in February and August of each year, which commenced in February 2007. (2)   Interest was payable semi-annually in arrears in January and July of each year, which commenced in January 2008. (3)   Interest is payable semi-annually in arrears in June and December of each year, which commenced in December 2009. (4)   Interest is payable semi-annually in arrears in February and August of each year, which commenced in February 2018. (5)   Interest is payable semi-annually in arrears in February and August of each year, which commenced in February 2018. (6)   Interest is payable quarterly in arrears in February, May, August and November of each, which commenced in November 2016. (7)   Interest was payable quarterly in arrears in January, April, July and October of each year commencing in April 2018. (8)   Interest is payable quarterly in arrears in March, June, September and December of each year, which commenced in September 2017. (9)   Interest is payable quarterly in arrears in February, May, August and November of each year commencing in November 2022. (10) Interest is payable quarterly in arrears in February, May, August and November of each year commencing in November 2027.

See Note 22, Subsequent Events, for information regarding the issuance of Junior Subordinated Notes F in February 2018 and the expected redemption of all $682.7 million aggregate principal amount of Junior Subordinated Notes B in March 2018.