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Subsidiary Debt (Tables)
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Long-term Debt 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 Value20212020
2.375% Senior Notes, due 2021
$— $— $448 
2.80% Senior Notes, due 2023
400 398 398 
3.75% Senior Notes, due 2023
500 499 498 
3.50% Senior Notes, due 2025
400 398 398 
4.05% Senior Notes, due 2025
1,250 1,246 1,246 
3.25% Senior Notes, due 2028
600 594 594 
8.48% Senior Notes, due 2028
256 260 257 
3.70% Senior Notes, due 2030
1,100 1,096 1,096 
1.65% Senior Notes, due 2031
500 497 497 
6.125% Senior Bonds, due 2036
1,670 1,661 1,661 
5.95% Senior Bonds, due 2037
550 548 548 
6.50% Senior Bonds, due 2037
225 223 223 
5.15% Senior Notes, due 2043
750 740 740 
4.50% Senior Notes, due 2045
750 738 738 
3.80% Senior Notes, due 2048
750 738 738 
4.45% Senior Notes, due 2049
1,000 990 990 
4.25% Senior Notes, due 2050
900 889 889 
2.85% Senior Notes, due 2051
1,500 1,488 1,488 
Total BHE Senior Debt$13,101 $13,003 $13,447 
Reflected as:
Current liabilities$— $450 
Noncurrent liabilities13,003 12,997 
Total BHE Senior Debt$13,003 $13,447 
BHE junior subordinated debentures consists of the following as of December 31 (in millions):
Par Value20212020
5.00% Junior subordinated debentures, due 2057
100 100 100 
Total BHE junior subordinated debentures - noncurrent
$100 $100 $100 
Long-term debt of subsidiaries consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (in millions):
Par Value20212020
PacifiCorp$8,797 $8,730 $8,612 
MidAmerican Funding8,047 7,946 7,431 
NV Energy3,701 3,675 3,673 
Northern Powergrid3,321 3,287 3,259 
BHE Pipeline Group5,534 5,924 6,165 
BHE Transmission3,924 3,906 3,877 
BHE Renewables3,073 3,043 3,116 
HomeServices148 148 186 
Total subsidiary debt$36,545 $36,659 $36,319 
Reflected as:
Current liabilities$1,265 $1,389 
Noncurrent liabilities35,394 34,930 
Total subsidiary debt$36,659 $36,319 
PacifiCorp's long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs as of December 31 (dollars in millions):
Par Value20212020
First mortgage bonds:
2.95% to 8.53%, due through 2026
$1,379 $1,378 $2,245 
2.70% to 7.70%, due 2027 to 2031
1,100 1,094 1,094 
5.25% to 6.10%, due 2032 to 2036
850 845 845 
5.75% to 6.35%, due 2037 to 2041
2,150 2,137 2,137 
4.10%, due 2042
300 297 297 
2.90% to 4.15%, due 2049 to 2052
2,800 2,761 1,776 
Variable-rate series, tax-exempt bond obligations (2021-0.12% to 0.13%; 2020-0.14% to 0.16%):
Due 2025
25 25 25 
Due 2024 to 2025(1)
193 193 193 
Total PacifiCorp$8,797 $8,730 $8,612 

(1)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.
MidAmerican Funding's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions):
Par Value20212020
MidAmerican Funding:
6.927% Senior Bonds, due 2029
$239 $225 $221 
MidAmerican Energy:
Tax-exempt bond obligations -
Variable-rate tax-exempt bond obligation series: (weighted average interest rate - 2021-0.13%, 2020-0.14%), due 2023-2047
370 368 368 
First Mortgage Bonds:
3.70%, due 2023
250 250 249 
3.50%, due 2024
500 501 501 
3.10%, due 2027
375 373 373 
3.65%, due 2029
850 860 862 
4.80%, due 2043
350 346 346 
4.40%, due 2044
400 395 395 
4.25%, due 2046
450 446 445 
3.95%, due 2047
475 470 470 
3.65%, due 2048
700 689 689 
4.25%, due 2049
900 874 873 
3.15%, due 2050
600 592 592 
2.70%, due 2052
500 492 — 
Notes:
6.75% Series, due 2031
400 397 397 
5.75% Series, due 2035
300 298 298 
5.80% Series, due 2036
350 348 348 
Transmission upgrade obligation, 3.35% to 7.95%, due 2036 to 2041
38 22 4 
Total MidAmerican Energy7,808 7,721 7,210 
Total MidAmerican Funding$8,047 $7,946 $7,431 
NV Energy's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions):
Par Value20212020
Nevada Power:
General and refunding mortgage securities:
3.700% Series CC, due 2029
$500 $497 $496 
2.400% Series DD, due 2030
425 422 422 
6.650% Series N, due 2036
367 361 361 
6.750% Series R, due 2037
349 347 347 
5.375% Series X, due 2040
250 249 249 
5.450% Series Y, due 2041
250 246 244 
3.125% Series EE, due 2050
300 297 297 
Tax-exempt refunding revenue bond obligations:
Fixed-rate series:
1.875% Pollution Control Bonds Series 2017A, due 2032(1)
40 39 39 
1.650% Pollution Control Bonds Series 2017, due 2036(1)
40 39 39 
1.650% Pollution Control Bonds Series 2017B, due 2039(1)
13 13 13 
Total Nevada Power2,534 2,510 2,507 
Sierra Pacific:
General and refunding mortgage securities:
3.375% Series T, due 2023
250 249 249 
2.600% Series U, due 2026
400 397 397 
6.750% Series P, due 2037
252 254 256 
Tax-exempt refunding revenue bond obligations:
Fixed-rate series:
1.850% Pollution Control Series 2016B, due 2029(2)
30 30 29 
3.000% Gas and Water Series 2016B, due 2036(3)
60 60 61 
0.625% Water Facilities Series 2016C, due 2036(2)
30 30 30 
2.050% Water Facilities Series 2016D, due 2036(2)
25 25 25 
2.050% Water Facilities Series 2016E, due 2036(2)
25 25 25 
2.050% Water Facilities Series 2016F, due 2036(2)
75 75 74 
1.850% Water Facilities Series 2016G, due 2036(2)
20 20 20 
Total Sierra Pacific1,167 1,165 1,166 
Total NV Energy$3,701 $3,675 $3,673 

(1)    Bonds were purchased by Nevada Power in May 2020 and re-offered at a fixed interest rate. Subject to mandatory purchase by Nevada Power in March 2023 at which date the interest rate may be adjusted.
(2)    Subject to mandatory purchase by Sierra Pacific in April 2022 at which date the interest rate may be adjusted.
(3)    Subject to mandatory purchase by Sierra Pacific in June 2022 at which date the interest rate may be adjusted.
Northern Powergrid and its subsidiaries' long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions):
Par Value(1)
20212020
4.133% European Investment Bank loans, due 2022
$204 $204 $206 
7.25% Bonds, due 2022
271 269 277 
2.50% Bonds, due 2025
203 202 203 
2.073% European Investment Bank loan, due 2025
67 69 70 
2.564% European Investment Bank loans, due 2027
338 337 340 
7.25% Bonds, due 2028
251 254 257 
4.375% Bonds, due 2032
203 200 202 
5.125% Bonds, due 2035
271 268 270 
5.125% Bonds, due 2035
203 201 203 
2.750% Bonds, due 2049
203 200 202 
2.250% Bonds, due 2059
406 398 402 
1.875% Bonds, due 2062
406 398 403 
Variable-rate loan, due 2026(2)
— — 183 
Variable-rate loan, due 2026(3)
— — 41 
Variable-rate loan, due 2026(4)
295 287 — 
Total Northern Powergrid$3,321 $3,287 $3,259 

(1)The par values for these debt instruments are denominated in sterling.
(2)The Company had entered into an interest rate swap that fixed the interest rate on 89% of the outstanding debt. The variable interest rate as of December 31, 2020 was 2.03% (including 2.0% margin) and the fixed interest rate was 3.07% (including 2.0% margin), resulting in a blended rate of 2.96%.
(3)The variable interest rate as of December 31, 2020 was 2.02% (including 2.0% margin).
(4)Amortizes semiannually and the Company has entered into an interest rate swap that fixes the interest rate on 80% of the outstanding debt. The variable interest rate as of December 31, 2021 was 1.73% (including 1.55% margin) and the fixed interest rate was 2.45% (including 1.55% margin), resulting in a blended rate of 2.30%.
BHE Pipeline Group's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions):
Par Value20212020
Eastern Energy Gas:
Variable-rate Senior Notes, due 2021(1)
$— $— $500 
2.875% Senior Notes, due 2023
250 250 249 
3.55% Senior Notes, due 2023
400 399 399 
2.50% Senior Notes, due 2024
600 597 596 
3.60% Senior Notes, due 2024
339 338 448 
3.32% Senior Notes, due 2026 (€250)(2)
284 283 304 
3.00% Senior Notes, due 2029
174 173 594 
3.80% Senior Notes, due 2031
150 150 150 
4.80% Senior Notes, due 2043
54 53 395 
4.60% Senior Notes, due 2044
56 56 493 
3.90% Senior Notes, due 2049
27 26 297 
EGTS:
3.60% Senior Notes, due 2024
111 110 — 
3.00% Senior Notes, due 2029
426 422 — 
4.80% Senior Notes, due 2043
346 341 — 
4.60% Senior Notes, due 2044
444 437 — 
3.90% Senior Notes, due 2049
273 271 — 
Total Eastern Energy Gas3,934 3,906 4,425 
Fair value adjustments— 430 493 
Total Eastern Energy Gas, net of fair value adjustments3,934 4,336 4,918 
Northern Natural Gas:
4.25% Senior Notes, due 2021
— — 200 
5.80% Senior Bonds, due 2037
150 149 149 
4.10% Senior Bonds, due 2042
250 248 248 
4.30% Senior Bonds, due 2049
650 651 650 
3.40% Senior Bonds, due 2051
550 540 — 
Total Northern Natural Gas1,600 1,588 1,247 
Total BHE Pipeline Group$5,534 $5,924 $6,165 

(1)    The senior notes had variable interest rates based on LIBOR plus an applicable margin. Eastern Energy Gas entered into an interest rate swap that fixed the interest rate on 100% of the notes. The fixed interest rate as of December 31, 2020 was 3.46% including a 0.60% margin.
(2)    The senior notes are denominated in Euros with an outstanding principal balance of €250 million and a fixed interest rate of 1.45%. Eastern Energy Gas has entered into cross currency swaps that fix USD payments for 100% of the notes. The fixed USD outstanding principal when combined with the swaps is $280 million, with fixed interest rates at both December 31, 2021 and 2020 that averaged 3.32%.
BHE Transmission's long-term debt consists of the following, including fair value adjustments and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions):
Par Value(1)
20212020
AltaLink Investments, L.P.:
Series 15-1 Senior Bonds, 2.244%, due 2022
$158 $158 $157 
Total AltaLink Investments, L.P.158 158 157 
AltaLink, L.P.:
Series 2012-2 Notes, 2.978%, due 2022
218 218 216 
Series 2013-4 Notes, 3.668%, due 2023
396 395 392 
Series 2014-1 Notes, 3.399%, due 2024
277 277 275 
Series 2016-1 Notes, 2.747%, due 2026
277 276 274 
Series 2020-1 Notes, 1.509%, due 2030
178 177 175 
Series 2006-1 Notes, 5.249%, due 2036
119 118 118 
Series 2010-1 Notes, 5.381%, due 2040
99 99 98 
Series 2010-2 Notes, 4.872%, due 2040
119 118 117 
Series 2011-1 Notes, 4.462%, due 2041
218 217 215 
Series 2012-1 Notes, 3.990%, due 2042
415 410 407 
Series 2013-3 Notes, 4.922%, due 2043
277 276 274 
Series 2014-3 Notes, 4.054%, due 2044
233 232 230 
Series 2015-1 Notes, 4.090%, due 2045
277 275 273 
Series 2016-2 Notes, 3.717%, due 2046
356 354 351 
Series 2013-1 Notes, 4.446%, due 2053
198 197 196 
Series 2014-2 Notes, 4.274%, due 2064
103 103 102 
Total AltaLink, L.P.3,760 3,742 3,713 
Other:
Construction Loan, 5.620%, due 2024
6 6 7 
Total BHE Transmission$3,924 $3,906 $3,877 

(1)The par values for these debt instruments are denominated in Canadian dollars.
BHE Renewables' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions):
Par Value20212020
Fixed-rate(1):
Bishop Hill Holdings Senior Notes, 5.125%, due 2032
$62 $62 $69 
Solar Star Funding Senior Notes, 3.950%, due 2035
258 256 269 
Solar Star Funding Senior Notes, 5.375%, due 2035
826 819 853 
Grande Prairie Wind Senior Notes, 3.860%, due 2037
299 297 327 
Topaz Solar Farms Senior Notes, 5.750%, due 2039
606 600 631 
Topaz Solar Farms Senior Notes, 4.875%, due 2039
172 170 180 
Alamo 6 Senior Notes, 4.170%, due 2042
199 197 205 
Other5 5 8 
Variable-rate(1):
TX Jumbo Road Term Loan, due 2025(2)
119 117 138 
Marshall Wind Term Loan, due 2026(2)
64 63 69 
Flat Top Wind I Term Loan, due 2028(2)
113 113 — 
Pinyon Pines I and II Term Loans, due 2034(2)
350 344 367 
Total BHE Renewables$3,073 $3,043 $3,116 

(1)Amortizes quarterly or semiannually.
(2)The term loans have variable interest rates based on LIBOR or Secured Overnight Financing Rate plus a margin that varies during the terms of the agreements. The Company has entered into interest rate swaps that fix the interest rate on 100% of the TX Jumbo Road, Marshall Wind and Pinyon Pines outstanding debt. The fixed interest rates as of December 31, 2021 and 2020 ranged from 3.21% to 3.88%. The variable interest rate on the Flat Top Wind I outstanding debt was 6.34% as of December 31, 2021.
HomeServices' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions):
Par Value20212020
Variable-rate:
Variable-rate term loan (2021 - 0.950%, 2020 - 1.147%), due 2026(1)
$148 $148 $186 

(1)Term loan amortizes quarterly and variable-rate resets monthly.
MidAmerican Energy's long-term debt consists of the following, including amounts maturing within one year and unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions):
Par Value20212020
First mortgage bonds:
3.70%, due 2023
$250 $250 $249 
3.50%, due 2024
500 501 501 
3.10%, due 2027
375 373 373 
3.65%, due 2029
850 860 862 
4.80%, due 2043
350 346 346 
4.40%, due 2044
400 395 395 
4.25%, due 2046
450 446 445 
3.95%, due 2047
475 470 470 
3.65%, due 2048
700 689 689 
4.25%, due 2049
900 874 873 
3.15%, due 2050
600 592 592 
2.70%, due 2052
500 492 — 
Notes:
6.75% Series, due 2031
400 397 397 
5.75% Series, due 2035
300 298 298 
5.80% Series, due 2036
350 348 348 
Transmission upgrade obligations, 3.35% to 7.95%, due 2036 to 2041
38 22 4 
Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2021-0.13%, 2020-0.14%):
Due 2023, issued in 1993
7 7 7 
Due 2023, issued in 2008
57 57 57 
Due 202435 35 35 
Due 202513 13 13 
Due 203633 33 33 
Due 203845 45 45 
Due 204630 29 29 
Due 2047150 149 149 
Total$7,808 $7,721 $7,210 
Schedule of Maturities of Long-term Debt
The annual repayments of BHE and subsidiary debt for the years beginning January 1, 2022 and thereafter, excluding fair value adjustments and unamortized premiums, discounts and debt issuance costs, are as follows (in millions):
2027 and
20222023202420252026ThereafterTotal
BHE senior notes$— $900 $— $1,650 $— $10,551 $13,101 
BHE junior subordinated debentures— — — — — 100 100 
PacifiCorp155 449 592 301 100 7,200 8,797 
MidAmerican Funding— 316 537 15 2 7,177 8,047 
NV Energy— 250 — — 400 3,051 3,701 
Northern Powergrid526 56 56 318 84 2,281 3,321 
BHE Pipeline Group— 650 1,050 — 284 3,550 5,534 
BHE Transmission377 397 282 — 277 2,591 3,924 
BHE Renewables199 200 210 241 218 2,005 3,073 
HomeServices8 7 9 15 109 — 148 
Totals $1,265 $3,225 $2,736 $2,540 $1,474 $38,506 $49,746