XML 58 R44.htm IDEA: XBRL DOCUMENT v2.4.0.6
Debt (Tables)
12 Months Ended
Dec. 31, 2011
Debt [Abstract]  
Schedule of Total Debt [Table Text Block]
Our total debt at December 31, 2011 and 2010 was comprised of the following (in millions):
Debt, including current maturities:
2011
 
2010
Tesoro Corporation Revolving Credit Facility
$

 
$

Tesoro Panama Company S.A. (“TPSA”) Revolving Credit Facility
117

 
150

TLLP Revolving Credit Facility
50

 

Junior subordinated notes due 2012 (net of unamortized discount of $16 in 2010)

 
134

6¼% Senior Notes Due 2012
299

 
450

65/8% Senior Notes Due 2015
450

 
450

6½% Senior Notes Due 2017
473

 
500

9¾% Senior Notes Due 2019 (net of unamortized discount of $9 in 2011
 and $10 in 2010)
291

 
290

Capital lease obligations and other
21

 
21

Total Debt
1,701

 
1,995

Less current maturities
418

 
152

Debt, less current maturities
$
1,283

 
$
1,843

Schedule of Line of Credit Facilities [Table Text Block]

Our credit facilities as of December 31, 2011, were subject to the following expenses and fees.
Credit Facility Rates
 
30 day Eurodollar (LIBOR)Rate
 
Eurodollar Margin
 
Base Rate
 
Base Rate Margin
 
Commitment Fee
(unused portion)
Tesoro Corporation Revolving Credit Facility ($1.85 billion) (a)
 
0.30%
 
1.75%
 
3.25%
 
0.75%
 
0.375%
TPSA Revolving Credit Facility ($500 million) (a)
 
0.30%
 
2.75%
 
3.25%
 
1.75%
 
N/A
TLLP Revolving Credit Facility ($150 million) (a)
 
0.30%
 
2.50%
 
3.25%
 
1.50%
 
0.50%
_______________________________________
(a)
We have the option to elect if the borrowings will bear interest at either a base rate plus the base rate margin, or a Eurodollar rate, for the applicable period, plus, the Eurodollar margin at the time of the borrowing.
Capital Lease Obligations [Table Text Block]
Future minimum annual lease payments, including interest, as of December 31, 2011 for capital leases were (in millions):
2012
$
4

2013
4

2014
4

2015
4

2016
3

Thereafter
11

Total minimum lease payments
30

Less amount representing interest
9

Capital lease obligations
$
21