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Short-Term Debt and Credit Facilities (Tables)
 12 Months Ended
Dec. 31, 2019
Line of Credit Facility [Line Items]  
Short-term Debt [Text Block]
Short-Term Debt and Credit Facilities

The following table summarizes BHE's and its subsidiaries' availability under their credit facilities as of December 31 (in millions):
 
 
 
 
 
MidAmerican
 
NV
 
Northern
 
BHE
 
 
 
 
 
BHE
 
PacifiCorp
 
Funding
 
Energy
 
Powergrid
 
Canada
 
Other
 
Total(1)
2019:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit facilities
$
3,500

 
$
1,200

 
$
1,309

 
$
650

 
$
199

 
$
674

 
$
1,880

 
$
9,412

Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Short-term debt
(1,590
)
 
(130
)
 
—

 
—

 
—

 
(211
)
 
(1,283
)
 
(3,214
)
Tax-exempt bond support and letters of credit
—

 
(256
)
 
(370
)
 
—

 
—

 
(3
)
 
—

 
(629
)
Net credit facilities
$
1,910

 
$
814

 
$
939

 
$
650

 
$
199

 
$
460

 
$
597

 
$
5,569

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2018:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit facilities(2)
$
3,500

 
$
1,200

 
$
1,309

 
$
650

 
$
231

 
$
639

 
$
1,585

 
$
9,114

Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Short-term debt
(983
)
 
(30
)
 
(240
)
 
—

 
(77
)
 
(345
)
 
(841
)
 
(2,516
)
Tax-exempt bond support and letters of credit
—

 
(89
)
 
(370
)
 
(80
)
 
—

 
(4
)
 
—

 
(543
)
Net credit facilities
$
2,517

 
$
1,081

 
$
699

 
$
570

 
$
154

 
$
290

 
$
744

 
$
6,055

(1)
The table does not include unused credit facilities and letters of credit for investments that are accounted for under the equity method.
(2)    Includes the drawn uncommitted credit facilities totaling $39 million at Northern Powergrid.

As of December 31, 2019, the Company was in compliance with the covenants of its credit facilities and letter of credit arrangements.

BHE

BHE has a $3.5 billion unsecured credit facility expiring in June 2022 with one remaining one-year extension option subject to lender consent. This credit facility, which is for general corporate purposes, supports BHE's commercial paper program and provides for the issuance of letters of credit, has a variable interest rate based on the Eurodollar rate or a base rate, at BHE's option, plus a spread that varies based on BHE's credit ratings for its senior unsecured long-term debt securities.

As of December 31, 2019 and 2018, the weighted average interest rate on commercial paper borrowings outstanding was 1.91% and 2.76%, respectively. This credit facility requires that BHE's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.70 to 1.0 as of the last day of each quarter.

As of December 31, 2019 and 2018, BHE had $107 million and $115 million, respectively, of letters of credit outstanding. These letters of credit primarily support power purchase agreements and debt service requirements at certain subsidiaries of BHE Renewables, LLC expiring through April 2021 and have provisions that automatically extend the annual expiration dates for an additional year unless the issuing bank elects not to renew a letter of credit prior to the expiration date.

PacifiCorp

PacifiCorp has a $600 million unsecured credit facility expiring in June 2022 and a $600 million unsecured credit facility expiring in June 2022 with one remaining one-year extension option subject to lender consent. These credit facilities, which support PacifiCorp's commercial paper program, certain series of its tax-exempt bond obligations and provide for the issuance of letters of credit, have variable interest rates based on the Eurodollar rate or a base rate, at PacifiCorp's option, plus a spread that varies based on PacifiCorp's credit ratings for its senior unsecured long-term debt securities.

As of December 31, 2019 and 2018, the weighted average interest rate on commercial paper borrowings outstanding was 2.05% and 2.85%, respectively. These credit facilities require that PacifiCorp's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter.

As of December 31, 2019 and 2018, PacifiCorp had $13 million and $184 million, respectively, of fully available letters of credit issued under committed arrangements. As of December 31, 2019 and 2018, $13 million and $14 million, respectively, support certain transactions required by third parties and generally have provisions that automatically extend the annual expiration dates for an additional year unless the issuing bank elects not to renew a letter of credit prior to the expiration date.

MidAmerican Funding

MidAmerican Energy has a $900 million unsecured credit facility expiring in June 2022. The credit facility supports MidAmerican Energy's commercial paper program and its variable-rate tax-exempt bond obligations, provides for the issuance of letters of credit and has a variable interest rate based on the Eurodollar rate or a base rate, at MidAmerican Energy's option, plus a spread that varies based on MidAmerican Energy's credit ratings for senior unsecured long-term debt securities. MidAmerican Energy has a $400 million unsecured credit facility that expires in August 2020 and has a variable interest rate based on the Eurodollar rate or a base rate, at MidAmerican Energy's option, plus a spread. As of December 31, 2018, MidAmerican Energy had a $400 million unsecured credit facility expiring November 2019, which it terminated in January 2019.

MidAmerican Energy had commercial paper borrowings outstanding of $- million as of December 31, 2019, and $240 million with a weighted average interest rate of 2.49% as of December 31, 2018. The credit facility requires that MidAmerican Energy's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter.

NV Energy

Nevada Power has a $400 million secured credit facility expiring in June 2022 and Sierra Pacific has a $250 million secured credit facility expiring in June 2022. These credit facilities, which are for general corporate purposes and provide for the issuance of letters of credit, have a variable interest rate based on the Eurodollar rate or a base rate, at each of the Nevada Utilities' option, plus a spread that varies based on each of the Nevada Utilities' credit ratings for its senior secured long‑term debt securities. Amounts due under each credit facility are collateralized by each of the Nevada Utilities' general and refunding mortgage bonds. These credit facilities require that each of the Nevada Utilities' ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter.

Northern Powergrid

Northern Powergrid has a £150 million unsecured credit facility expiring in October 2022. The credit facility has a variable interest rate based on sterling London Interbank Offered Rate ("LIBOR") plus a spread that varies based on its credit ratings. The credit facility requires that the ratio of consolidated senior total net debt, including current maturities, to regulated asset value not exceed 0.8 to 1.0 at Northern Powergrid and 0.65 to 1.0 at Northern Powergrid (Northeast) Limited and Northern Powergrid (Yorkshire) plc as of June 30 and December 31. Northern Powergrid's interest coverage ratio shall not be less than 2.5 to 1.0.

AltaLink

AltaLink has a C$500 million secured revolving term credit facility expiring in December 2023 with a recurring one-year extension option subject to lender consent. The credit facility, which provides support for borrowings under the unsecured commercial paper program and may also be used for general corporate purposes, has a variable interest rate based on the Canadian bank prime lending rate or a spread above the Bankers' Acceptance rate, at AltaLink's option, based on AltaLink's credit ratings for its senior secured long-term debt securities. In addition, AltaLink has a C$75 million secured revolving term credit facility expiring in December 2023 with a recurring one-year extension option subject to lender consent. The credit facility, which may be used for general corporate purposes and letters of credit, has a variable interest rate based on the Canadian bank prime lending rate, United States base rate, a spread above the United States LIBOR loan rate or a spread above the Bankers' Acceptance rate, at AltaLink's option, based on AltaLink's credit ratings for its senior secured long-term debt securities.

As of December 31, 2019 and 2018, AltaLink had $192 million and $281 million outstanding under these facilities at a weighted average interest rate of 2.16% and 2.26%, respectively. The credit facilities require the consolidated indebtedness to total capitalization not exceed 0.75 to 1.0 measured as of the last day of each quarter.

AltaLink Investments, L.P. has a C$300 million unsecured revolving term credit facility expiring in December 2023 with a recurring one-year extension option subject to lender consent. The credit facility, which may be used for general corporate purposes and letters of credit to a maximum of C$10 million, has a variable interest rate based on the Canadian bank prime lending rate, United States base rate, a spread above the United States LIBOR loan rate or a spread above the Bankers' Acceptance rate, at AltaLink Investments, L.P.'s option, based on AltaLink Investments, L.P.'s credit ratings for its senior unsecured long-term debt securities. 

As of December 31, 2019 and 2018, AltaLink Investments, L.P. had $19 million and $64 million outstanding under this facility at a weighted average interest rate of 3.08% and 3.25%, respectively. The credit facility requires the consolidated total debt to capitalization to not exceed 0.8 to 1.0 and earnings before interest, taxes, depreciation and amortization to interest expense for the four fiscal quarters ended to not be less than 2.25 to 1.0 measured as of the last day of each quarter.

In January 2020, AltaLink and AltaLink Investments, L.P. extended, with lender consent, the expiration dates for the existing credit facilities to December 2024.

HomeServices

HomeServices has a $600 million unsecured credit facility expiring in September 2022. The credit facility, which is for general corporate purposes and provides for the issuance of letters of credit, has a variable interest rate based on the LIBOR or a base rate, at HomeServices' option, plus a spread that varies based on HomeServices' total net leverage ratio as of the last day of each quarter. As of December 31, 2019 and 2018, HomeServices had $318 million and $404 million, respectively, outstanding under its credit facility with a weighted average interest rate of 3.29% and 3.94%, respectively.

Through its subsidiaries, HomeServices maintains mortgage lines of credit totaling $1.3 billion and $985 million as of December 31, 2019 and 2018, respectively, used for mortgage banking activities that expire beginning in January 2020 through December 2020. The mortgage lines of credit have variable rates based on LIBOR plus a spread. Collateral for these credit facilities is comprised of residential property being financed and is equal to the loans funded with the facilities. As of December 31, 2019 and 2018, HomeServices had $965 million and $436 million, respectively, outstanding under these mortgage lines of credit at a weighted average interest rate of 3.51% and 4.42%, respectively.

BHE Renewables Letters of Credit

As of December 31, 2019 and 2018, certain renewable projects collectively have letters of credit outstanding of $373 million and $322 million, respectively, primarily in support of the power purchase agreements and large generator interconnection agreements associated with the projects.
Short-Term Debt and Credit Facilities [Table Text Block]
The following table summarizes BHE's and its subsidiaries' availability under their credit facilities as of December 31 (in millions):
 
 
 
 
 
MidAmerican
 
NV
 
Northern
 
BHE
 
 
 
 
 
BHE
 
PacifiCorp
 
Funding
 
Energy
 
Powergrid
 
Canada
 
Other
 
Total(1)
2019:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit facilities
$
3,500

 
$
1,200

 
$
1,309

 
$
650

 
$
199

 
$
674

 
$
1,880

 
$
9,412

Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Short-term debt
(1,590
)
 
(130
)
 
—

 
—

 
—

 
(211
)
 
(1,283
)
 
(3,214
)
Tax-exempt bond support and letters of credit
—

 
(256
)
 
(370
)
 
—

 
—

 
(3
)
 
—

 
(629
)
Net credit facilities
$
1,910

 
$
814

 
$
939

 
$
650

 
$
199

 
$
460

 
$
597

 
$
5,569

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2018:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Credit facilities(2)
$
3,500

 
$
1,200

 
$
1,309

 
$
650

 
$
231

 
$
639

 
$
1,585

 
$
9,114

Less:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Short-term debt
(983
)
 
(30
)
 
(240
)
 
—

 
(77
)
 
(345
)
 
(841
)
 
(2,516
)
Tax-exempt bond support and letters of credit
—

 
(89
)
 
(370
)
 
(80
)
 
—

 
(4
)
 
—

 
(543
)
Net credit facilities
$
2,517

 
$
1,081

 
$
699

 
$
570

 
$
154

 
$
290

 
$
744

 
$
6,055

(1)
The table does not include unused credit facilities and letters of credit for investments that are accounted for under the equity method.
(2)    Includes the drawn uncommitted credit facilities totaling $39 million at Northern Powergrid.
Sierra Pacific Power Company [Member]  
Line of Credit Facility [Line Items]  
Short-term Debt [Text Block]
Credit Facility

The following table summarizes Sierra Pacific's availability under its credit facilities as of December 31 (in millions):
 
 
2019
 
2018
Credit facilities
 
$
250

 
$
250

Less - Water Facilities Refunding Revenue Bond support
 
—

 
(80
)
Net credit facilities
 
$
250

 
$
170



Sierra Pacific has a $250 million secured credit facility expiring in June 2022 The credit facility, which is for general corporate purposes and provides for the issuance of letters of credit, has a variable interest rate based on the Eurodollar rate or a base rate, at Sierra Pacific's option, plus a spread that varies based on Sierra Pacific's credit ratings for its senior secured long‑term debt securities. As of December 31, 2019 and 2018, Sierra Pacific had no borrowings outstanding under the credit facility. Amounts due under Sierra Pacific's credit facility are collateralized by Sierra Pacific's general and refunding mortgage bonds. The credit facility requires Sierra Pacific's ratio of debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter.
Short-Term Debt and Credit Facilities [Table Text Block]
The following table summarizes Sierra Pacific's availability under its credit facilities as of December 31 (in millions):
 
 
2019
 
2018
Credit facilities
 
$
250

 
$
250

Less - Water Facilities Refunding Revenue Bond support
 
—

 
(80
)
Net credit facilities
 
$
250

 
$
170
PacifiCorp [Member]  
Line of Credit Facility [Line Items]  
Short-term Debt [Text Block]
Short-term Debt and Credit Facilities

The following table summarizes PacifiCorp's availability under its credit facilities as of December 31 (in millions):
2019:
 
 
Credit facilities
 
$
1,200

Less:
 
 
Short-term debt
 
(130
)
Tax-exempt bond support
 
(256
)
Net credit facilities
 
$
814

 
 
 
2018:
 
 
Credit facilities
 
$
1,200

Less:
 
 
Short-term debt
 
(30
)
Tax-exempt bond support
 
(89
)
Net credit facilities
 
$
1,081



As of December 31, 2019, PacifiCorp was in compliance with the covenants of its credit facilities and letter of credit arrangements.

PacifiCorp has a $600 million unsecured credit facility expiring in June 2022 and a $600 million unsecured credit facility expiring in June 2022 with one remaining one-year extension option subject to lender consent. These credit facilities, which support PacifiCorp's commercial paper program, certain series of its tax-exempt bond obligations and provide for the issuance of letters of credit, have variable interest rates based on the Eurodollar rate or a base rate, at PacifiCorp's option, plus a spread that varies based on PacifiCorp's credit ratings for its senior unsecured long-term debt securities.

As of December 31, 2019 and 2018, the weighted average interest rate on commercial paper borrowings outstanding was 2.05% and 2.85%, respectively. These credit facilities require that PacifiCorp's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter.

As of December 31, 2019 and 2018, PacifiCorp had $13 million and $184 million, respectively, of fully available letters of credit issued under committed arrangements. As of December 31, 2019 and 2018, $13 million and $14 million, respectively, support certain transactions required by third parties and generally have provisions that automatically extend the annual expiration dates for an additional year unless the issuing bank elects not to renew a letter of credit prior to the expiration date.
Short-Term Debt and Credit Facilities [Table Text Block]
The following table summarizes PacifiCorp's availability under its credit facilities as of December 31 (in millions):
2019:
 
 
Credit facilities
 
$
1,200

Less:
 
 
Short-term debt
 
(130
)
Tax-exempt bond support
 
(256
)
Net credit facilities
 
$
814

 
 
 
2018:
 
 
Credit facilities
 
$
1,200

Less:
 
 
Short-term debt
 
(30
)
Tax-exempt bond support
 
(89
)
Net credit facilities
 
$
1,081
MidAmerican Energy Company [Member]  
Line of Credit Facility [Line Items]  
Short-term Debt [Text Block]
Short-Term Debt and Credit Facilities

Interim financing of working capital needs and the construction program is obtained from unaffiliated parties through the sale of commercial paper or short-term borrowing from banks. MidAmerican Energy has a $900 million unsecured credit facility expiring June 2022. The credit facility supports MidAmerican Energy's commercial paper program and its variable-rate tax-exempt bond obligations, provides for the issuance of letters of credit and has a variable interest rate based on the Eurodollar rate or a base rate, at MidAmerican Energy's option, plus a spread that varies based on MidAmerican Energy's credit ratings for senior unsecured long-term debt securities. MidAmerican Energy has a $400 million unsecured credit facility that expires in August 2020 and has a variable interest rate based on the Eurodollar rate or a base rate, at MidAmerican Energy's option, plus a spread. Additionally, MidAmerican Energy has a $5 million unsecured credit facility, which expires in June 2020 and has a variable interest rate based on the Eurodollar rate plus a spread. As of December 31, 2018, MidAmerican Energy had a $400 million unsecured credit facility expiring November 2019, which was terminated in January 2019. MidAmerican Energy had commercial paper borrowings outstanding of $- million as of December 31, 2019, and $240 million with a weighted average interest rate of 2.49% as of December 31, 2018. The $900 million and $400 million credit facilities each require that MidAmerican Energy's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of any quarter. As of December 31, 2019, MidAmerican Energy was in compliance with the covenants of its credit facilities. MidAmerican Energy has authority from the FERC to issue commercial paper and bank notes aggregating $1.3 billion through July 31, 2020.

The following table summarizes MidAmerican Energy's availability under its two unsecured revolving credit facilities as of December 31 (in millions):
 
2019
 
2018
 
 
 
 
Credit facilities
$
1,305

 
$
1,305

Less:
 
 
 
Short-term debt outstanding
—

 
(240
)
Variable-rate tax-exempt bond support
(370
)
 
(370
)
Net credit facilities
$
935

 
$
695
Short-Term Debt and Credit Facilities [Table Text Block]
The following table summarizes MidAmerican Energy's availability under its two unsecured revolving credit facilities as of December 31 (in millions):
 
2019
 
2018
 
 
 
 
Credit facilities
$
1,305

 
$
1,305

Less:
 
 
 
Short-term debt outstanding
—

 
(240
)
Variable-rate tax-exempt bond support
(370
)
 
(370
)
Net credit facilities
$
935

 
$
695
Nevada Power Company [Member]  
Line of Credit Facility [Line Items]  
Short-term Debt [Text Block]
Credit Facility

Nevada Power has a $400 million secured credit facility expiring in June 2022. The credit facility, which is for general corporate purposes and provide for the issuance of letters of credit, has a variable interest rate based on the Eurodollar rate or a base rate, at Nevada Power's option, plus a spread that varies based on Nevada Power's credit ratings for its senior secured long‑term debt securities. As of December 31, 2019 and 2018, Nevada Power had no borrowings outstanding under the credit facility. Amounts due under Nevada Power's credit facility are collateralized by Nevada Power's general and refunding mortgage bonds. The credit facility requires Nevada Power's ratio of consolidated debt, including current maturities, to total capitalization not exceed 0.65 to 1.0 as of the last day of each quarter.