Subsidiary Debt (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Subsidiary Debt [Table Text Block]

Junior Subordinated Debentures

BHE junior subordinated debentures consists of the following as of December 31 (in millions):

	Par Value		2014		2013
Junior subordinated debentures, due 2043	$	2,294	$	2,294	$	2,594
Junior subordinated debentures, due 2044	1,500		1,500		—
Total BHE junior subordinated debentures - noncurrent	$	3,794	$	3,794	$	2,594

Senior Debt

BHE senior debt represents unsecured senior obligations of BHE and consists of the following, including unamortized premiums and discounts, as of December 31 (in millions):

	Par Value		2014		2013
5.00% Senior Notes, due 2014	$	—	$	—	$	250
1.10% Senior Notes, due 2017	400		400		400
5.75% Senior Notes, due 2018	650		649		649
2.00% Senior Notes, due 2018	350		350		350
2.40% Senior Notes, due 2020	350		350		—
3.75% Senior Notes, due 2023	500		500		500
3.50% Senior Notes, due 2025	400		400		—
8.48% Senior Notes, due 2028	475		482		483
6.125% Senior Bonds, due 2036	1,700		1,699		1,699
5.95% Senior Bonds, due 2037	550		548		548
6.50% Senior Bonds, due 2037	1,000		992		992
5.15% Senior Notes, due 2043	750		746		745
4.50% Senior Notes, due 2045	750		744		—
Total BHE Senior Debt	$	7,875	$	7,860	$	6,616
Reflected as:
Current liabilities			$	—	$	250
Noncurrent liabilities			7,860		6,366
Total BHE Senior Debt			$	7,860	$	6,616

BHE Renewables

BHE Renewables' long-term debt consists of the following, including fair value adjustments, as of December 31 (dollars in millions):

	Par Value		2014		2013
Fixed-rate(1):
CE Generation Bonds, 7.416%, due 2018	$	123	$	125	$	—
Salton Sea Funding Corporation Bonds, 7.475%, due 2018	69		71		—
Cordova Funding Corporation Bonds, 8.48% to 9.07%, due 2019	126		125		139
Bishop Hill Holdings Senior Notes, 5.125%, due 2032	109		109		114
Solar Star Funding Senior Notes, 5.375%, due 2035	1,000		1,000		1,000
Topaz Solar Farms Senior Notes, 5.750%, due 2039	850		850		850
Topaz Solar Farms Senior Notes, 4.875%, due 2039	250		250		250
Other	27		27		30
Variable-rate(1):
Pinyon Pines I and II Term Loans, due 2019(2)	401		401		417
Wailuku Special Purpose Revenue Bonds, 0.09%, due 2021	9		9		—
Total BHE Renewables	$	2,964	$	2,967	$	2,800

(1) Amortizes quarterly or semiannually.

(2) The term loans have variable interest rates based on LIBOR plus a spread that varies during the term of the agreement. The weighted average variable interest rate as of December 31, 2014 and 2013 was 1.88% and 2.87%, respectively. The Company has entered into interest rate swaps that fix the interest rate on 75% of the outstanding debt. The weighted average fixed interest rate for the 75% portion is fixed at 3.55% and 4.53% as of December 31, 2014 and 2013, respectively.

BHE Pipeline Group' long-term debt consists of the following, including unamortized premiums and discounts, as of December 31 (dollars in millions):

	Par Value		2014		2013
Northern Natural Gas:
5.125% Senior Notes, due 2015	$	100	$	100	$	100
5.75% Senior Notes, due 2018	200		200		200
4.25% Senior Notes, due 2021	200		200		200
5.8% Senior Bonds, due 2037	150		150		150
4.1% Senior Bonds, due 2042	250		249		250
Total Northern Natural Gas	900		899		900
Kern River:
6.676% Senior Notes, due 2016	167		167		197
4.893% Senior Notes, due 2018	300		300		351
Total Kern River	467		467		548
Total BHE Pipeline Group	$	1,367	$	1,366	$	1,448

Northern Powergrid

Northern Powergrid and its subsidiaries' long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (dollars in millions):

	Par Value(1)		2014		2013
8.875% Bonds, due 2020	$	156	$	174	$	189
9.25% Bonds, due 2020	311		339		366
3.901% to 4.586% European Investment Bank loans, due 2018 to 2022	420		420		444
7.25% Bonds, due 2022	311		328		349
7.25% Bonds, due 2028	290		299		319
4.375% Bonds, due 2032	234		231		245
5.125% Bonds, due 2035	311		310		328
5.125% Bonds, due 2035	234		233		247
Total Northern Powergrid	$	2,267	$	2,334	$	2,487

(1) The par values for these debt instruments are denominated in sterling.

NV Energy

NV Energy's long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (dollars in millions):

	Par Value		2014		2013
NV Energy:
Variable-rate Term Loan, due 2014(1)	$	—	$	—	$	195
6.250% Senior Notes, due 2020	315		362		369
Total NV Energy	315		362		564
Nevada Power:
General and Refunding Mortgage Securities:
5.875% Series L, due 2015	250		250		250
5.950% Series M, due 2016	210		210		210
6.500% Series O, due 2018	325		323		324
6.500% Series S, due 2018	499		498		499
7.125% Series V, due 2019	500		501		501
6.650% Series N, due 2036	367		361		363
6.750% Series R, due 2037	349		348		349
5.375% Series X, due 2040	250		249		249
5.450% Series Y, due 2041	250		250		250
Variable-rate series (2014-0.455% to 0.464%, 2013 0.454% to 0.459%):
Pollution Control Revenue Bonds Series 2006A, due 2032	38		38		38
Pollution Control Revenue Bonds Series 2006, due 2036	38		38		38
Capital lease obligations - 2.75% to 11.6%, due through 2054	510		510		461
Total Nevada Power	3,586		3,576		3,532
Sierra Pacific:
General and Refunding Mortgage Securities:
6.000% Series M, due 2016	450		452		453
3.375% Series T, due 2023	250		250		250
6.750% Series P, due 2037	252		258		259
Variable-rate series (2014-0.464% to 0.466%, 2013-0.459% to 0.463%):
Pollution Control Revenue Bonds Series 2006A, due 2031	58		58		58
Pollution Control Revenue Bonds Series 2006B, due 2036	75		75		75
Pollution Control Revenue Bonds Series 2006C, due 2036	81		81		81
Capital lease obligations - 2.7% to 8.814%, due through 2054	26		26		24
Total Sierra Pacific	1,192		1,200		1,200
Total NV Energy	$	5,093	$	5,138	$	5,296

(1) The term loan had a variable interest rate based on LIBOR plus a spread that varied during the term of the agreement. The variable interest rate as of December 31, 2013 was 1.92%. The Company had an interest rate swap that fixed the interest rate at 2.56% as of December 31, 2013.

PacifiCorp

PacifiCorp's long-term debt consists of the following, including unamortized premiums and discounts, as of December 31 (dollars in millions):

	Par Value		2014		2013
First mortgage bonds:
5.50% to 8.635%, due through 2019	$	862	$	861	$	1,070
2.95% to 8.53%, due 2021 to 2024	1,899		1,897		1,472
6.71% due 2026	100		100		100
5.90% to 7.70%, due 2031 to 2034	500		499		499
5.25% to 6.35%, due 2035 to 2039	2,800		2,792		2,791
4.10% due 2042	300		299		299
Variable-rate series, tax-exempt bond obligations (2014-0.02% to 0.28%; 2013-0.03% to 0.52%):
Due 2015 to 2025(1)	223		223		325
Due 2015 to 2024(1)(2)	221		221		221
Due 2016 to 2025(2)	36		36		51
Due 2017 to 2018	91		91		—
Capital lease obligations - 8.75% to 15.678%, due through 2036	70		70		105
Total PacifiCorp	$	7,102	$	7,089	$	6,933

(1) Supported by $451 million and $559 million of fully available letters of credit issued under committed bank arrangements as of December 31, 2014 and 2013, respectively.

(2) Secured by pledged first mortgage bonds registered to and held by the tax-exempt bond trustee generally with the same interest rates, maturity dates and redemption provisions as the tax-exempt bond obligations.

BHE Transmission's long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31, (dollars in millions):

	Par Value(1)		2014		2013
AltaLink Investments, L.P.:
Series 09-1 Senior Bonds, 5.207%, due 2016	$	128	$	136	$	—
Series 12-1 Senior Bonds, 3.674%, due 2019	172		181		—
Series 13-1 Senior Bonds, 3.265%, due 2020	172		177		—
Total AltaLink Investments, L.P.	472		494		—
AltaLink Holdings, L.P. Senior debentures, 10.5%, due 2015	78		78		—
ALP:
Series 2008-1 Notes, 5.243%, due 2018	172		171		—
Series 2013-2 Notes, 3.621%, due 2020	108		108		—
Series 2012-2 Notes, 2.978%, due 2022	237		237		—
Series 2013-4 Notes, 3.668%, due 2023	430		430		—
Series 2014-1 Notes, 3.399%, due 2024	301		301		—
Series 2006-1 Notes, 5.249%, due 2036	129		129		—
Series 2010-1 Notes, 5.381%, due 2040	108		108		—
Series 2010-2 Notes, 4.872%, due 2040	129		129		—
Series 2011-1 Notes, 4.462%, due 2041	237		237		—
Series 2012-1 Notes, 3.99%, due 2042	452		452		—
Series 2013-3 Notes, 4.922%, due 2043	301		301		—
Series 2014-3 Notes, 4.054%, due 2044	254		254		—
Series 2013-1 Notes, 4.446%, due 2053	215		215		—
Series 2014-2 Notes, 4.274%, due 2064	112		112		—
Total AltaLink, L.P.	3,185		3,184		—
Total BHE Transmission	$	3,735	$	3,756	$	—

(1) The par values for these debt instruments are denominated in Canadian dollars.

Long-term debt of subsidiaries consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (in millions):

	Par Value		2014		2013
PacifiCorp	$	7,102	$	7,089	$	6,933
MidAmerican Funding	4,396		4,345		3,838
NV Energy	5,093		5,138		5,296
Northern Powergrid	2,267		2,334		2,487
BHE Pipeline Group	1,367		1,366		1,448
BHE Transmission	3,735		3,756		—
BHE Renewables	2,964		2,967		2,800
Total subsidiary debt	$	26,924	$	26,995	$	22,802
Reflected as:
Current liabilities			$	1,232	$	938
Noncurrent liabilities			25,763		21,864
Total subsidiary debt			$	26,995	$	22,802

MidAmerican Funding

MidAmerican Funding's long-term debt consists of the following, including fair value adjustments and unamortized premiums and discounts, as of December 31 (dollars in millions):

	Par Value		2014		2013
MidAmerican Funding:
6.927% Senior Bonds, due 2029	$	325	$	289	$	288
MidAmerican Energy:
Tax-exempt bond obligations -
Variable-rate series (2014-0.07%, 2013-0.08%), due 2016-2038	195		195		195
First Mortgage Bonds:
2.40%, due 2019	500		500		350
3.70%, due 2023	250		249		249
3.50%, due 2024	300		299		—
4.80%, due 2043	350		348		348
4.40%, due 2044	400		398		—
Notes:
4.65% Series, due 2014	—		—		350
5.95% Series, due 2017	250		250		250
5.3% Series, due 2018	350		350		349
6.75% Series, due 2031	400		397		397
5.75% Series, due 2035	300		300		300
5.8% Series, due 2036	350		350		350
Turbine purchase obligation, 1.43% due 2015(1)	426		420		412
Total MidAmerican Energy	4,071		4,056		3,550
Total MidAmerican Funding	$	4,396	$	4,345	$	3,838

(1) In conjunction with the construction of wind-powered generating facilities, MidAmerican Energy has accrued as property, plant and equipment, net amounts it is not contractually obligated to pay until the future. The amounts ultimately payable were discounted and recognized upon delivery of the equipment as long-term debt. The discount is being amortized as interest expense over the period until payment is due using the effective interest method.

Maturities of Long-term Debt [Table Text Block]

Annual Repayments of Long-Term Debt

The annual repayments of BHE and subsidiary debt for the years beginning January 1, 2015 and thereafter, excluding fair value adjustments and unamortized premiums and discounts, are as follows (in millions):

											2020 and
	2015		2016		2017		2018		2019		Thereafter		Total
BHE senior notes	$	—	$	—	$	400	$	1,000	$	—	$	6,475	$	7,875
BHE junior subordinated debentures	—		—		—		—		—		3,794		3,794
PacifiCorp	157		71		58		589		353		5,874		7,102
MidAmerican Funding	426		34		254		350		500		2,832		4,396
NV Energy	265		673		16		840		519		2,780		5,093
Northern Powergrid	—		—		—		62		62		2,143		2,267
BHE Pipeline Group	185		191		62		329		—		600		1,367
BHE Transmission	78		129		—		172		172		3,184		3,735
BHE Renewables	121		168		172		179		463		1,861		2,964
Totals	$	1,232	$	1,266	$	962	$	3,521	$	2,069	$	29,543	$	38,593