BHE Debt

Senior Debt

BHE senior debt represents unsecured senior obligations of BHE that are redeemable in whole or in part at any time generally with make-whole premiums. BHE senior debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (in millions):



	Par Value		2018		2017

5.75% Senior Notes, due 2018	—		—		650
2.00% Senior Notes, due 2018	—		—		350
2.40% Senior Notes, due 2020	350		349		349
2.375% Senior Notes, due 2021	450		448		—
2.80% Senior Notes, due 2023	400		398		—
3.75% Senior Notes, due 2023	500		498		498
3.50% Senior Notes, due 2025	400		398		398
3.250% Senior Notes, due 2028	600		594		—
8.48% Senior Notes, due 2028	256		257		302
6.125% Senior Bonds, due 2036	1,670		1,661		1,660
5.95% Senior Bonds, due 2037	550		547		547
6.50% Senior Bonds, due 2037	225		222		222
5.15% Senior Notes, due 2043	750		740		739
4.50% Senior Notes, due 2045	750		738		737
3.80% Senior Notes, due 2048	750		737		—
4.45% Senior Notes, due 2049	1,000		990		—
Total BHE Senior Debt	$	8,651	$	8,577	$	6,452

Reflected as:
Current liabilities			$	—	$	1,000
Noncurrent liabilities			8,577		5,452
Total BHE Senior Debt			$	8,577	$	6,452

Junior Subordinated Debentures

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



	Par Value		2018		2017

Junior subordinated debentures, due 2057	100		100		100
Total BHE junior subordinated debentures - noncurrent	$	100	$	100	$	100

In June 2017, BHE issued $100 million of its 5.00% junior subordinated debentures due June 2057 in exchange for 181,819 shares of BHE no par value common stock held by a minority shareholder. The junior subordinated debentures are redeemable at BHE's option at any time from and after June 15, 2037, at par plus accrued and unpaid interest. Interest expense to the minority shareholder for the year ended December 31, 2018 and 2017 was $5 million and $3 million, respectively.