Debt and Financing Arrangement (Notes)

6 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Debt and Financing Arrangement

DEBT AND FINANCING ARRANGEMENT

Credit Facility

On February 2, 2015, the previous credit facility to which we were a party was terminated in connection with the merger of the former Williams Partners L.P. with and into ACMP. Simultaneously, we, along with WPZ and Transcontinental Gas Pipe Line Company, LLC (Transco), as co-borrowers, entered into a new $3.5 billion credit facility. Total letter of credit capacity available to WPZ under the credit facility is $1.125 billion. We may borrow up to $500 million under this credit facility to the extent not otherwise utilized by WPZ and Transco. At June 30, 2015, no letters of credit have been issued and no loans are outstanding under the credit facility.

WPZ participates in a commercial paper program, and WPZ management considers amounts outstanding under this program to be a reduction of available capacity under the credit facility. The program allows a maximum outstanding amount at any time of $3 billion of unsecured commercial paper notes. At June 30, 2015, WPZ had approximately $1.7 billion of outstanding commercial paper.

Long-Term Debt Due Within One Year

The long-term debt due within one year at June 30, 2015 is associated with the $175 million 7% senior unsecured notes that mature on June 15, 2016.