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Long-Term and Short-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Schedule of Debt

Long-term debt by type with related weighted-average coupon rates and maturities at December 31, 2019 and 2018 is as follows:

At December 31,

 

2019

Weighted-

average

Coupon(1)

 

 

2019

 

 

2018

 

(millions, except percentages)

 

 

 

 

 

 

 

 

 

 

 

 

DESC:

 

 

 

 

 

 

 

 

 

 

 

 

First Mortgage Bonds, 3.22% to 6.625%, due 2021 to 2065(2)

 

 

5.42

%

 

$

3,267

 

 

$

4,990

 

Tax-Exempt Financings:

 

 

 

 

 

 

 

 

 

 

 

 

Variable rate due 2038

 

 

1.65

%

 

 

35

 

 

 

35

 

3.625% and 4.00%, due 2028 and 2033

 

 

3.90

%

 

 

54

 

 

 

54

 

Other

 

 

3.69

%

 

 

1

 

 

 

—

 

GENCO:

 

 

 

 

 

 

 

 

 

 

 

 

Tax-Exempt Financing, variable rate due 2038

 

 

1.65

%

 

 

33

 

 

 

33

 

Secured Senior Notes, 5.49% due 2024(3)

 

 

 

 

 

 

—

 

 

 

40

 

Affiliated note, 3.05% due 2024

 

 

3.05

%

 

 

230

 

 

 

—

 

Total principal

 

 

 

 

 

 

3,620

 

 

 

5,152

 

Securities due within one year

 

 

 

 

 

 

—

 

 

 

(14

)

Unamortized discount, premium and debt issuance costs, net

 

 

 

 

 

 

(32

)

 

 

(36

)

Finance leases

 

 

 

 

 

 

20

 

 

 

30

 

Total long-term debt

 

 

 

 

 

$

3,608

 

 

$

5,132

 

 

(1)

Represents weighted-average coupon rates for debt outstanding as of December 31, 2019.
Schedule of Principal Payments of Long-Term Debt

Based on stated maturity dates rather than early redemption dates that could be elected by instrument holders, the scheduled principal payments of long-term debt at December 31, 2019, were as follows:

 

(millions, except percentages)

 

2020

 

 

2021

 

 

2022

 

 

2023

 

 

2024

 

 

Thereafter

 

 

Total

 

First Mortgage Bonds

 

$

—

 

 

$

33

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

3,234

 

 

$

3,267

 

Tax-Exempt Financings

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

122

 

 

 

122

 

Other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

230

 

 

 

1

 

 

 

231

 

Total

 

$

—

 

 

$

33

 

 

$

—

 

 

$

—

 

 

$

230

 

 

$

3,357

 

 

$

3,620

 

Weighted-average coupon

 

 

 

 

 

 

3.25

%

 

 

 

 

 

 

 

 

 

 

3.05

%

 

 

5.34

%

 

 

 

 
Schedule of Line of Credit Facilities

DESC's share of commercial paper and letters of credit outstanding under its joint credit facility with Dominion Energy, were as follows:

 

(millions)

 

Facility Limit

 

 

Outstanding

Commercial

Paper

 

 

Outstanding

Letters of

Credit

 

At December 31, 2019

 

$

1,000

 

 

$

—

 

 

$

—

 

 

(millions)

 

Facility Limit(1)

 

 

Outstanding

Commercial

Paper

 

 

Outstanding

Letters of

Credit

 

At December 31, 2018

 

$

1,200

 

 

$

73

 

 

$

—

 

 

(1)

Included $500 million related to Fuel Company. In February 2019, Fuel Company's commercial paper program and its credit facility were terminated.