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Subsidiary Debt (Notes)
 12 Months Ended
Dec. 31, 2020
Debt Instrument [Line Items]  
Subsidiary Debt Long-term Debt
PacifiCorp's long-term debt was as follows as of December 31 (dollars in millions):
20202019
AverageAverage
PrincipalCarryingInterestCarryingInterest
AmountValueRateValueRate
First mortgage bonds:
2.95% to 8.53%, due through 2025
$2,149 $2,145 4.00 %$2,144 4.00 %
2.70% to 6.71%, due 2026 to 2030
900 895 3.50 497 4.14 
5.25% to 7.70%, due 2031 to 2035
800 796 6.33 795 6.33 
5.75% to 6.35%, due 2036 to 2039
2,500 2,485 6.06 2,484 6.06 
4.10% due 2042
300 297 4.10 297 4.10 
3.30% to 4.15%, due 2049 to 2051
1,800 1,776 3.86 1,186 4.14 
Variable-rate series, tax-exempt bond obligations (2020-0.14% to 0.16%; 2019-1.60% to 1.80%):
Due 2020— — 38 1.78 
Due 202525 25 0.14 24 1.75 
Due 2024 to 2025(1)
193 193 0.15 193 1.70 
Total long-term debt$8,667 $8,612 $7,658 

Reflected as:
20202019
Current portion of long-term debt$420 $38 
Long-term debt8,192 7,620 
Total long-term debt$8,612 $7,658 

(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.
PacifiCorp's long-term debt generally includes provisions that allow PacifiCorp to redeem the first mortgage bonds in whole or in part at any time through the payment of a make-whole premium. Variable-rate tax-exempt bond obligations are generally redeemable at par value.

PacifiCorp currently has regulatory authority from the Oregon Public Utility Commission and the Idaho Public Utilities Commission to issue an additional $3.0 billion of long-term debt. PacifiCorp must make a notice filing with the Washington Utilities and Transportation Commission prior to any future issuance. PacifiCorp currently has an effective shelf registration statement filed with the United States Securities and Exchange Commission to issue an indeterminate amount of first mortgage bonds through September 2023.
The issuance of PacifiCorp's first mortgage bonds is limited by available property, earnings tests and other provisions of PacifiCorp's mortgage. Approximately $30 billion of PacifiCorp's eligible property (based on original cost) was subject to the lien of the mortgage as of December 31, 2020.

As of December 31, 2020, the annual principal maturities of long-term debt for 2021 and thereafter are as follows (in millions):
Long-term
Debt
2021$420 
2022605 
2023449 
2024591 
2025302 
Thereafter6,300 
Total8,667 
Unamortized discount and debt issuance costs(55)
Total$8,612 
MidAmerican Energy Company [Member]  
Debt Instrument [Line Items]  
Long-term Debt [Text Block]
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 Value20202019
First mortgage bonds:
3.70%, due 2023
$250 $249 $249 
3.50%, due 2024
500 501 501 
3.10%, due 2027
375 373 373 
3.65%, due 2029
850 862 864 
4.80%, due 2043
350 346 346 
4.40%, due 2044
400 395 395 
4.25%, due 2046
450 445 445 
3.95%, due 2047
475 470 470 
3.65%, due 2048
700 689 688 
4.25%, due 2049
900 873 872 
3.15%, due 2050
600 592 591 
Notes:
6.75% Series, due 2031
400 397 396 
5.75% Series, due 2035
300 298 298 
5.80% Series, due 2036
350 348 348 
Transmission upgrade obligation, 4.45% and 3.42% due through 2035 and 2036, respectively
6 4 4 
Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2020-0.14%, 2019-1.66%):
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$7,276 $7,210 $7,208 

The annual repayments of MidAmerican Energy's long-term debt for the years beginning January 1, 2021, and thereafter, excluding unamortized premiums, discounts and debt issuance costs, are as follows (in millions):
2021$— 
2022— 
2023315 
2024535 
202513 
2026 and thereafter6,413 

Pursuant to MidAmerican Energy's mortgage dated September 9, 2013, MidAmerican Energy's first mortgage bonds, currently and from time to time outstanding, are secured by a first mortgage lien on substantially all of its electric generating, transmission and distribution property within the State of Iowa, subject to certain exceptions and permitted encumbrances. As of December 31, 2020, MidAmerican Energy's eligible property subject to the lien of the mortgage totaled approximately $22 billion based on original cost. Additionally, MidAmerican Energy's senior notes outstanding are equally and ratably secured with the first mortgage bonds as required by the indentures under which the senior notes were issued.
MidAmerican Energy's variable-rate tax-exempt bond obligations bear interest at rates that are periodically established through remarketing of the bonds in the short-term tax-exempt market. MidAmerican Energy, at its option, may change the mode of interest calculation for these bonds by selecting from among several floating or fixed rate alternatives. The interest rates shown in the table above are the weighted average interest rates as of December 31, 2020 and 2019. MidAmerican Energy maintains revolving credit facility agreements to provide liquidity for holders of these issues. Additionally, MidAmerican Energy's obligations associated with the $30 million and $150 million variable rate, tax-exempt bond obligations due 2046 and 2047, respectively, are secured by an equal amount of first mortgage bonds pursuant to MidAmerican Energy's mortgage dated September 9, 2013, as supplemented and amended.

As of December 31, 2020, MidAmerican Energy was in compliance with all of its applicable long-term debt covenants.

In March 1999, MidAmerican Energy committed to the IUB to use commercially reasonable efforts to maintain an investment grade rating on its long-term debt and to maintain its common equity level above 42% of total capitalization unless circumstances beyond its control result in the common equity level decreasing to below 39% of total capitalization. MidAmerican Energy must seek the approval from the IUB of a reasonable utility capital structure if MidAmerican Energy's common equity level decreases below 42% of total capitalization, unless the decrease is beyond the control of MidAmerican Energy. MidAmerican Energy is also required to seek the approval of the IUB if MidAmerican Energy's equity level decreases to below 39%, even if the decrease is due to circumstances beyond the control of MidAmerican Energy. As of December 31, 2020, MidAmerican Energy's common equity ratio was 52% computed on a basis consistent with its commitment. As a result of its regulatory commitment to maintain its common equity level above certain thresholds, MidAmerican Energy could dividend $2.8 billion as of December 31, 2020, without falling below 42%.
MidAmerican Funding, LLC and Subsidiaries [Member]  
Debt Instrument [Line Items]  
Long-term Debt [Text Block]
Refer to Note 8 of MidAmerican Energy's Notes to Financial Statements for detail and a discussion of its long-term debt. In addition to MidAmerican Energy's annual repayments of long-term debt, MidAmerican Funding parent company has $239 million of 6.927% Senior Bonds due in 2029, with a carrying value of $240 million as of December 31, 2020 and 2019.

The MidAmerican Funding parent company bonds are the direct senior secured obligations of MidAmerican Funding and effectively rank junior to all indebtedness and other liabilities of the direct and indirect subsidiaries of MidAmerican Funding, to the extent of the assets of these subsidiaries. MidAmerican Funding may redeem the bonds in whole or in part at any time at a redemption price equal to the sum of any accrued and unpaid interest to the date of redemption and the greater of (1) 100% of the principal amount of the bonds or (2) the sum of the present values of the remaining scheduled payments of principal and interest on the bonds, discounted to the date of redemption on a semiannual basis at the treasury yield plus 25 basis points.

MidAmerican Funding parent company long-term debt is secured by a pledge of the common stock of MHC, which is not publicly traded. In the event of any triggering event under the related debt indenture, the common stock of MHC would be available to satisfy the applicable debt obligations. Triggering events include, among other specified circumstances, (1) default on the payment of interest for 30 days or principal for three days; (2) a material default in the performance of any material covenants or obligations in the indenture continuing for a period of 90 days after written notice in accordance with the indenture; or (3) the failure generally of MidAmerican Funding or any significant subsidiary to pay its debts when due. Previously, the consolidated financial statements of MHC Inc. were disclosed in Item 15(c) of this Form 10-K in accordance with Rule 3-16 of the U. S. Securities and Exchange Commission's Regulation S-X. In April 2020, the U. S. Securities and Exchange Commission published Rule 13-02 of Regulation S‑X to be effective January 4, 2021, with the option to adopt early. MidAmerican Funding adopted Rule 13-02, "Affiliates whose securities collateralize securities registered or being registered," on December 31, 2020. Under the new rule, disclosure of the separate consolidated financial statements of MHC Inc. is no longer required. The assets, liabilities and results of operations of consolidated MHC are not materially different than the corresponding amounts presented in the consolidated financial statements of MidAmerican Funding, other than the MidAmerican Funding parent company debt and related interest expense and income tax. As such, disclosure of summarized financial information of consolidated MHC Inc. is not required.

Subsidiaries of MidAmerican Funding must make payments on their own indebtedness before making distributions to MidAmerican Funding. Refer to Note 8 of MidAmerican Energy's Notes to Financial Statements for a discussion of utility regulatory restrictions affecting distributions from MidAmerican Energy. As a result of the utility regulatory restrictions agreed to by MidAmerican Energy in March 1999, MidAmerican Funding had restricted net assets of $5.2 billion as of December 31, 2020.

As of December 31, 2020, MidAmerican Funding was in compliance with all of its applicable long-term debt covenants.

Each of MidAmerican Funding's direct or indirect subsidiaries is organized as a legal entity separate and apart from MidAmerican Funding and its other subsidiaries. It should not be assumed that any asset of any subsidiary of MidAmerican Funding will be available to satisfy the obligations of MidAmerican Funding or any of its other subsidiaries; provided, however, that unrestricted cash or other assets which are available for distribution may, subject to applicable law and the terms of financing arrangements of such parties, be advanced, loaned, paid as dividends or otherwise distributed or contributed to MidAmerican Funding, one of its subsidiaries or affiliates thereof.
Nevada Power Company [Member]  
Debt Instrument [Line Items]  
Debt Disclosure [Text Block] Long-term Debt
Nevada Power's long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions):
Par Value20202019
General and refunding mortgage securities:
2.750% Series BB, due 2020
$— $— $575 
3.700% Series CC, due 2029
500 496 496 
2.400% Series DD, due 2030
425 422 — 
6.650% Series N, due 2036
367 359 358 
6.750% Series R, due 2037
349 346 346 
5.375% Series X, due 2040
250 248 248 
5.450% Series Y, due 2041
250 237 237 
3.125% Series EE, due 2050
300 297 — 
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 long-term debt $2,534 $2,496 $2,351 
Reflected as:
Current portion of long-term debt$— $575 
Long-term debt 2,496 1,776 
Total long-term debt $2,496 $2,351 

(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.

Annual Payment on Long-Term Debt

The annual repayments of long-term debt for the years beginning January 1, 2021 and thereafter, are as follows (in millions):
2026 and thereafter$2,534 
Unamortized premium, discount and debt issuance cost(38)
Total$2,496 

The issuance of General and Refunding Mortgage Securities by Nevada Power is subject to PUCN approval and is limited by available property and other provisions of the mortgage indentures. As of December 31, 2020, approximately $9.1 billion (based on original cost) of Nevada Power's property was subject to the liens of the mortgages.
Sierra Pacific Power Company [Member]  
Debt Instrument [Line Items]  
Debt Disclosure [Text Block] Long-term Debt
Sierra Pacific's long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions):
Par Value20202019
General and refunding mortgage securities:
3.375% Series T, due 2023
$250 $249 $249 
2.600% Series U, due 2026
400 396 396 
6.750% Series P, due 2037
252 255 255 
Tax-exempt refunding revenue bond obligations:
Fixed-rate series:
1.850% Pollution Control Series 2016B, due 2029 (1)
30 29 29 
3.000% Gas and Water Series 2016B, due 2036 (2)
60 61 62 
0.625% Water Facilities Series 2016C, due 2036 (3)
30 30 — 
2.050% Water Facilities Series 2016D, due 2036 (1) (4)
25 25 25 
2.050% Water Facilities Series 2016E, due 2036 (1) (4)
25 25 25 
2.050% Water Facilities Series 2016F, due 2036 (1)
75 74 74 
1.850% Water Facilities Series 2016G, due 2036 (1)
20 20 20 
Total long-term debt $1,167 $1,164 $1,135 
Reflected as -
Long-term debt $1,164 $1,135 

(1)Subject to mandatory purchase by Sierra Pacific in April 2022 at which date the interest rate may be adjusted.
(2)Subject to mandatory purchase by Sierra Pacific in June 2022 at which date the interest rate may be adjusted.
(3)Bond was purchased by Sierra Pacific during 2019 and re-offered at a fixed rate in September 2020 for a two-year term subject to mandatory purchase by Sierra Pacific in April 2022.
(4)Bonds were purchased by Sierra Pacific during 2019 and re-offered at a fixed interest rate.
Annual Payment on Long-Term Debt

The annual repayments of long-term debt for the years beginning January 1, 2021 and thereafter, are as follows (in millions):
2023
$250 
2026 and thereafter917 
Total1,167 
Unamortized premium, discount and debt issuance cost(3)
Total$1,164 

The issuance of General and Refunding Mortgage Securities by Sierra Pacific is subject to PUCN approval and is limited by available property and other provisions of the mortgage indentures. As of December 31, 2020, approximately $4.3 billion (based on original cost) of Sierra Pacific's property was subject to the liens of the mortgages.
Eastern Energy Gas Holdings, LLC [Member]  
Debt Instrument [Line Items]  
Long-term Debt [Text Block] Long-term Debt
Eastern Energy Gas' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars and euros in millions):

Par Value20202019
Variable-rate Senior Notes, due 2021(1)
$500 $500 $499 
2.8% Senior Notes, due 2020
— — 699 
2.875% Senior Notes, due 2023
250 249 249 
3.55% Senior Notes, due 2023
400 399 398 
2.5% Senior Notes, due 2024
600 596 596 
3.6% Senior Notes, due 2024
450 448 447 
3.32% Senior Notes, due 2026 (€250)(2)
305 304 279 
3.53% Senior Notes, due 2028(3)
— — 99 
3% Senior Notes, due 2029
600 594 594 
3.8% Senior Notes, due 2031
150 150 149 
3.91% Senior Notes, due 2038(3)
— — 149 
4.875% Senior Notes, due 2041(3)
— — 177 
4.8% Senior Notes, due 2043
400 395 395 
4.6% Senior Notes, due 2044
500 493 493 
3.9% Senior Notes, due 2049
300 297 297 
Total long-term debt $4,455 $4,425 $5,520 
Reflected as:
Current portion of long-term debt$500 $699 
Long-term debt 3,925 4,821 
Total long-term debt $4,425 $5,520 

(1)The senior notes have variable interest rates based on LIBOR plus an applicable spread. Eastern Energy Gas has entered into an interest rate swap that fixes the interest rate on 100% of the notes. The fixed interest rates as of December 31, 2020 and 2019 were 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, 2020 and 2019 that averaged 3.32%.
(3)Long-term debt associated with the Questar Pipeline Group.

Annual Payment on Long-Term Debt

The annual repayments of long-term debt for the years beginning January 1, 2021 and thereafter, are as follows (in millions):

2021$500 
2022— 
2023650 
20241,050 
2025— 
2026 and thereafter2,255 
Total4,455 
Unamortized premium, discount and debt issuance cost(30)
Total$4,425