Debt Obligations (Tables)

6 Months Ended

Jun. 30, 2019

Debt Obligations [Abstract]

Consolidated Debt Obligations

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

	June 30, 2019			December 31, 2018
EPO senior debt obligations:
Commercial Paper Notes, variable-rates (1)	$	1,425.0		$	–
Senior Notes N, 6.50% fixed-rate, due January 2019		–			700.0
364-Day Revolving Credit Agreement, variable-rate, due September 2019		–			–
Senior Notes LL, 2.55% fixed-rate, due October 2019 (1)		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 TT, 2.80% fixed-rate, due February 2021		750.0			750.0
Senior Notes RR, 2.85% fixed-rate, due April 2021		575.0			575.0
Senior Notes VV, 3.50% fixed-rate, due February 2022		750.0			750.0
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 WW, 4.15% fixed-rate, due October 2028		1,000.0			1,000.0
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 UU, 4.25% fixed-rate, due February 2048		1,250.0			1,250.0
Senior Notes XX, 4.80% fixed-rate, due February 2049		1,250.0			1,250.0
Senior Notes NN, 4.95% fixed-rate, due October 2054		400.0			400.0
TEPPCO senior debt obligations:
TEPPCO Senior Notes, 7.55% fixed-rate, due April 2038		0.4			0.4
Total principal amount of senior debt obligations		24,475.0			23,750.0
EPO Junior Subordinated Notes C, variable-rate, due June 2067 (2)		232.2			256.4
EPO Junior Subordinated Notes D, fixed/variable-rate, due August 2077 (3)		700.0			700.0
EPO Junior Subordinated Notes E, fixed/variable-rate, due August 2077 (4)		1,000.0			1,000.0
EPO Junior Subordinated Notes F, fixed/variable-rate, due February 2078 (5)		700.0			700.0
TEPPCO Junior Subordinated Notes, variable-rate, due June 2067 (2)		14.2			14.2
Total principal amount of senior and junior debt obligations		27,121.4			26,420.6
Other, non-principal amounts		(236.4	)		(242.4	)
Less current maturities of debt (1)		(500.0	)		(1,500.1	)
Total long-term debt	$	26,385.0		$	24,678.1

(1)	In accordance with ASC 470, Debt, long-term and current maturities of debt reflect the classification of such obligations at June 30, 2019 after taking into consideration EPO's issuance of senior notes in July 2019.
(2)	Variable rate is reset quarterly and based on 3-month LIBOR, or London Inter-Bank Offered Rate, plus 2.778%. During the second quarter of 2019, EPO repurchased and retired $24.2 million in principal amount of these junior subordinated notes.
(3)	Fixed rate of 4.875% through August 15, 2022; thereafter, a variable rate reset quarterly and based on 3-month LIBOR plus 2.986%.
(4)	Fixed rate of 5.250% through August 15, 2027; thereafter, a variable rate reset quarterly and based on 3-month LIBOR plus 3.033%.
(5)	Fixed rate of 5.375% through February 14, 2028; thereafter, a variable rate reset quarterly and based on 3-month LIBOR plus 2.57%.

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

	Range of Interest Rates Paid	Weighted-Average Interest Rate Paid
Commercial Paper Notes	2.59% to 2.80%	2.72%
EPO Junior Subordinated Notes C and TEPPCO Junior Subordinated Notes	5.30% to 5.52%	5.42%

Consolidated Debt Maturities

After taking into account EPO’s issuance of Senior Notes YY and Senior Notes ZZ in July 2019 and the expected use of net proceeds, the following table presents the scheduled contractual maturities of principal amounts of our consolidated debt obligations for the next five years and in total thereafter:

			Scheduled Maturities of Debt
	Total		Remainder of 2019		2020		2021		2022		2023		Thereafter
Principal amount of senior and junior debt obligations at     June 30, 2019	$	27,121.4	$	–	$	1,500.0	$	1,325.0	$	1,400.0	$	1,250.0	$	21,646.4