Debt and Interest Expense (Tables)

3 Months Ended

Mar. 31, 2016

Debt Outstanding and Debt Activity Tables

The following summarizes the Company’s debt activity, after eliminating the effect of intercompany transactions, during the three months ended March 31, 2016:



	Carrying Value
millions	WES		WGP⁽¹⁾		Anadarko ⁽²⁾			Anadarko Consolidated			Description
Balance at December 31, 2015	$	2,691	$	—	$	12,957		$	15,648
Issuances	—		—		794			794			4.850% Senior Notes due 2021
	—		—		1,088			1,088			5.550% Senior Notes due 2026
	—		—		1,088			1,088			6.600% Senior Notes due 2046
Borrowings	—		—		1,350			1,350			364-Day Facility
	330		—		—			330			WES RCF
	—		28		—			28			WGP RCF
Repayments	—		—		(1,350		)	(1,350		)	364-Day Facility
	—		—		(250		)	(250		)	Commercial paper notes, net
	—		—		(8		)	(8		)	TEUs - senior amortizing notes
Other, net	—		—		13			13			Amortization of discounts, premiums, and debt issuance costs
Balance at March 31, 2016	$	3,021	$	28	$	15,682		$	18,731

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⁽¹⁾	Excludes WES.


⁽²⁾	Excludes WES and WGP.

The following summarizes the Company’s outstanding debt after eliminating the effect of intercompany transactions:



millions	WES			WGP⁽¹⁾		Anadarko⁽²⁾			Anadarko Consolidated
March 31, 2016
Total borrowings at face value	$	3,050		$	28	$	17,333		$	20,411
Net unamortized discounts, premiums, and debt issuance costs ⁽³⁾	(29		)	—		(1,651		)	(1,680		)
Total borrowings	3,021			28		15,682			18,731
Capital lease obligation	—			—		20			20
Less short-term debt	—			—		3,025			3,025
Total long-term debt	$	3,021		$	28	$	12,677		$	15,726

December 31, 2015
Total borrowings at face value	$	2,720		$	—	$	14,592		$	17,312
Net unamortized discounts, premiums, and debt issuance costs ⁽³⁾	(29		)	—		(1,635		)	(1,664		)
Total borrowings	2,691			—		12,957			15,648
Capital lease obligation	—			—		20			20
Less short-term debt	—			—		32			32
Total long-term debt	$	2,691		$	—	$	12,945		$	15,636

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⁽¹⁾	Excludes WES.


⁽²⁾	Excludes WES and WGP.


⁽³⁾	Unamortized discounts, premiums, and debt issuance costs are amortized over the term of the related debt. Debt issuance costs related to revolving credit facilities are included in other current assets and other assets on the Company’s Consolidated Balance Sheets.

Interest Expense Table

The following summarizes interest expense:



	Three Months Ended March 31,
millions	2016			2015
Debt and other	$	258		$	254
Capitalized interest	(38		)	(38		)
Total interest expense	$	220		$	216