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Debt Obligations (Tables)
12 Months Ended
Dec. 31, 2022
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,
 
 
 
2022
   
2021
 
EPO senior debt obligations:
           
Commercial Paper Notes, variable-rates
 
$
495
   
$
 
Senior Notes VV, 3.50% fixed-rate, due February 2022
   
     
750
 
Senior Notes CC, 4.05% fixed-rate, due February 2022
   
     
650
 
Senior Notes HH, 3.35% fixed-rate, due March 2023
   
1,250
     
1,250
 
September 2022 $1.5 Billion 364-Day Revolving Credit Agreement, variable-rate, due September 2023 (1)
   
     
 
Senior Notes JJ, 3.90% fixed-rate, due February 2024
   
850
     
850
 
Senior Notes MM, 3.75% fixed-rate, due February 2025
   
1,150
     
1,150
 
Senior Notes PP, 3.70% fixed-rate, due February 2026
   
875
     
875
 
September 2021 $3.0 Billion Multi-Year Revolving Credit Agreement, variable-rate, due September 2026 (2)
   
     
 
Senior Notes SS, 3.95% fixed-rate, due February 2027
   
575
     
575
 
Senior Notes WW, 4.15% fixed-rate, due October 2028
   
1,000
     
1,000
 
Senior Notes YY, 3.125% fixed-rate, due July 2029
   
1,250
     
1,250
 
Senior Notes AAA, 2.80% fixed-rate, due January 2030
   
1,250
     
1,250
 
Senior Notes D, 6.875% fixed-rate, due March 2033
   
500
     
500
 
Senior Notes H, 6.65% fixed-rate, due October 2034
   
350
     
350
 
Senior Notes J, 5.75% fixed-rate, due March 2035
   
250
     
250
 
Senior Notes W, 7.55% fixed-rate, due April 2038
   
400
     
400
 
Senior Notes R, 6.125% fixed-rate, due October 2039
   
600
     
600
 
Senior Notes Z, 6.45% fixed-rate, due September 2040
   
600
     
600
 
Senior Notes BB, 5.95% fixed-rate, due February 2041
   
750
     
750
 
Senior Notes DD, 5.70% fixed-rate, due February 2042
   
600
     
600
 
Senior Notes EE, 4.85% fixed-rate, due August 2042
   
750
     
750
 
Senior Notes GG, 4.45% fixed-rate, due February 2043
   
1,100
     
1,100
 
Senior Notes II, 4.85% fixed-rate, due March 2044
   
1,400
     
1,400
 
Senior Notes KK, 5.10% fixed-rate, due February 2045
   
1,150
     
1,150
 
Senior Notes QQ, 4.90% fixed-rate, due May 2046
   
975
     
975
 
Senior Notes UU, 4.25% fixed-rate, due February 2048
   
1,250
     
1,250
 
Senior Notes XX, 4.80% fixed-rate, due February 2049
   
1,250
     
1,250
 
Senior Notes ZZ, 4.20% fixed-rate, due January 2050
   
1,250
     
1,250
 
Senior Notes BBB, 3.70% fixed-rate, due January 2051
   
1,000
     
1,000
 
Senior Notes DDD, 3.20% fixed-rate, due February 2052
   
1,000
     
1,000
 
Senior Notes EEE, 3.30% fixed-rate, due February 2053
   
1,000
     
1,000
 
Senior Notes NN, 4.95% fixed-rate, due October 2054
   
400
     
400
 
Senior Notes CCC, 3.95% fixed rate, due January 2060
   
1,000
     
1,000
 
Total principal amount of senior debt obligations
   
26,270
     
27,175
 
EPO Junior Subordinated Notes C, variable-rate, due June 2067 (3)
   
232
     
232
 
EPO Junior Subordinated Notes D, fixed/variable-rate, due August 2077 (4)
   
350
     
700
 
EPO Junior Subordinated Notes E, fixed/variable-rate, due August 2077 (5)
   
1,000
     
1,000
 
EPO Junior Subordinated Notes F, fixed/variable-rate, due February 2078 (6)
   
700
     
700
 
TEPPCO Junior Subordinated Notes, variable-rate, due June 2067 (3)
   
14
     
14
 
Total principal amount of senior and junior debt obligations
   
28,566
     
29,821
 
Other, non-principal amounts
   
(271
)
   
(286
)
Less current maturities of debt
   
(1,744
)
   
(1,400
)
Total long-term debt
 
$
26,551
   
$
28,135
 

(1)
Under the terms of the agreement, EPO may borrow up to $1.5 billion (which may be increased by up to $200 million to $1.7 billion at EPO’s election provided certain conditions are met).
(2)
Under the terms of the agreement, EPO may borrow up to $3.0 billion (which may be increased by up to $500 million to $3.5 billion at EPO’s election provided certain conditions are met).
(3)
Variable rate is reset quarterly and based on 3-month London Interbank Offered Rate (“LIBOR”) plus 2.778%. 
(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%.
(6)
Fixed rate of 5.375% through February 14, 2028; thereafter, a variable rate reset quarterly and based on 3-month LIBOR plus 2.57%.
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, 2022:

 
Range of Interest
Rates Paid
Weighted-Average
Interest Rate Paid
Commercial Paper Notes
0.20% to 4.65%
2.07%
EPO Junior Subordinated Notes C and TEPPCO Junior Subordinated Notes
2.95% to 7.54%
4.51%
EPO Junior Subordinated Notes D
5.91% to 7.63%
6.43%
Consolidated Debt Maturities
Scheduled Maturities of Debt

The following table presents the scheduled maturities of principal amounts of EPO’s consolidated debt obligations at December 31, 2022 for the next five years, and in total thereafter:

 
       
Scheduled Maturities of Debt
 
 
 
Total
   
2023
   
2024
   
2025
   
2026
   
2027
   
Thereafter
 
Commercial Paper Notes
 
$
495
   
$
495
   
$
   
$
   
$
   
$
   
$
 
Senior Notes
   
25,775
     
1,250
     
850
     
1,150
     
875
     
575
     
21,075
 
Junior Subordinated Notes
   
2,296
     
     
     
     
     
     
2,296
 
Total
 
$
28,566
   
$
1,745
   
$
850
   
$
1,150
   
$
875
   
$
575
   
$
23,371