Debt and Interest Expense (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Debt Outstanding and Debt Activity Tables

The following summarizes the Company’s outstanding debt:

	December 31,
millions	2015			2014
Commercial paper	$	250		$	—
5.950% Senior Notes due 2016	1,750			1,750
6.375% Senior Notes due 2017	2,000			2,000
7.050% Debentures due 2018	114			114
Tangible equity units - senior amortizing notes due 2018	85			—
WES 2.600% Senior Notes due 2018	350			350
6.950% Senior Notes due 2019	300			300
8.700% Senior Notes due 2019	600			600
WES 5.375% Senior Notes due 2021	500			500
WES 4.000% Senior Notes due 2022	670			670
3.450% Senior Notes due 2024	625			625
6.950% Senior Notes due 2024	650			650
WES 3.950% Senior Notes due 2025	500			—
7.500% Debentures due 2026	112			112
7.000% Debentures due 2027	54			54
7.125% Debentures due 2027	150			150
6.625% Debentures due 2028	17			17
7.150% Debentures due 2028	235			235
7.200% Debentures due 2029	135			135
7.950% Debentures due 2029	117			117
7.500% Senior Notes due 2031	900			900
7.875% Senior Notes due 2031	500			500
Zero-Coupon Senior Notes due 2036	2,360			2,360
6.450% Senior Notes due 2036	1,750			1,750
7.950% Senior Notes due 2039	325			325
6.200% Senior Notes due 2040	750			750
4.500% Senior Notes due 2044	625			625
WES 5.450% Senior Notes due 2044	400			400
7.730% Debentures due 2096	61			61
7.500% Debentures due 2096	78			78
7.250% Debentures due 2096	49			49
WES revolving credit facility	300			510
Total borrowings at face value	$	17,312		$	16,687
Net unamortized discounts and premiums (1)	(1,581		)	(1,616		)
Total borrowings	$	15,731		$	15,071
Capital lease obligation	20			21
Less current portion of long-term debt	33			—
Total long-term debt (2)	$	15,718		$	15,092

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⁽¹⁾  Unamortized discounts and premiums are amortized over the term of the related debt.

⁽²⁾  The total long-term debt balance for WES was $2.7 billion at December 31, 2015, and $2.4 billion at December 31, 2014.

The following summarizes the Company’s debt activity:

millions	Carrying Value			Description
Balance at December 31, 2013	$	13,557
Issuances	101			WES 2.600% Senior Notes due 2018
	394			WES 5.450% Senior Notes due 2044
	624			3.450% Senior Notes due 2024
	621			4.500% Senior Notes due 2044
Borrowings	1,160			WES revolving credit facility
Repayments	(500		)	7.625% Senior Notes due 2014
	(275		)	5.750% Senior Notes due 2014
	(650		)	WES revolving credit facility
Other, net	39			Amortization of debt discounts and premiums
Balance at December 31, 2014	$	15,071
Issuances	494			WES 3.950% Senior Notes due 2025
	101			Tangible equity units - senior amortizing notes
Borrowings	1,500			$5.0 billion revolving credit facility
	1,800			364-Day Facility
	400			WES revolving credit facility
	250			Commercial paper notes, net (1)
Repayments	(1,500		)	$5.0 billion revolving credit facility
	(1,800		)	364-Day Facility
	(610		)	WES revolving credit facility
	(16		)	Tangible equity units - senior amortizing notes
Other, net	41			Amortization of debt discounts and premiums
Balance at December 31, 2015	$	15,731

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⁽¹⁾  Includes repayments of $(106) million related to commercial paper notes with maturities greater than 90 days.

Scheduled Maturities Table

Total principal amount of debt maturities for the five years ending December 31, 2020, excluding the potential repayment of the outstanding Zero Coupons that may be put by the holders to the Company annually, were as follows:

millions	Principal Amount of Debt Maturities
2016	$	2,033
2017	2,034
2018	482
2019	1,200
2020	—

Interest Expense Table

The following summarizes interest expense for the years ended December 31:

millions	2015			2014			2013
Debt and other	$	989		$	973		$	949
Capitalized interest	(164		)	(201		)	(263		)
Total interest expense	$	825		$	772		$	686