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Subsidiary Debt (Tables)

12 Months Ended

Dec. 31, 2018

Senior Debt

BHE senior debt represents unsecured senior obligations of BHE that are redeemable in whole or in part at any time generally with make-whole premiums. 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 Value		2018		2017

5.75% Senior Notes, due 2018	—		—		650
2.00% Senior Notes, due 2018	—		—		350
2.40% Senior Notes, due 2020	350		349		349
2.375% Senior Notes, due 2021	450		448		—
2.80% Senior Notes, due 2023	400		398		—
3.75% Senior Notes, due 2023	500		498		498
3.50% Senior Notes, due 2025	400		398		398
3.250% Senior Notes, due 2028	600		594		—
8.48% Senior Notes, due 2028	256		257		302
6.125% Senior Bonds, due 2036	1,670		1,661		1,660
5.95% Senior Bonds, due 2037	550		547		547
6.50% Senior Bonds, due 2037	225		222		222
5.15% Senior Notes, due 2043	750		740		739
4.50% Senior Notes, due 2045	750		738		737
3.80% Senior Notes, due 2048	750		737		—
4.45% Senior Notes, due 2049	1,000		990		—
Total BHE Senior Debt	$	8,651	$	8,577	$	6,452

Reflected as:
Current liabilities			$	—	$	1,000
Noncurrent liabilities			8,577		5,452
Total BHE Senior Debt			$	8,577	$	6,452

Junior Subordinated Debentures

BHE junior subordinated debentures consists of the following as of December 31 (in millions):



	Par Value		2018		2017

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 Value		2018		2017

PacifiCorp	$	7,076	$	7,036	$	7,025
MidAmerican Funding	5,668		5,599		5,259
NV Energy	4,321		4,318		4,581
Northern Powergrid	2,621		2,626		2,805
BHE Pipeline Group	1,050		1,042		796
BHE Transmission	3,856		3,842		4,334
BHE Renewables	3,438		3,401		3,594
HomeServices	233		233		247
Total subsidiary debt	$	28,263	$	28,097	$	28,641

Reflected as:
Current liabilities			$	2,106	$	2,431
Noncurrent liabilities			25,991		26,210
Total subsidiary debt			$	28,097	$	28,641

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 Value		2018		2017

First mortgage bonds:
2.40%, due 2019	$	500	$	500	$	499
3.70%, due 2023	250		249		248
3.50%, due 2024	500		500		501
3.10%, due 2027	375		372		372
4.80%, due 2043	350		346		346
4.40%, due 2044	400		395		394
4.25%, due 2046	450		445		445
3.95%, due 2047	475		470		470
3.65%, due 2048	700		688		—
Notes:
5.3% Series, due 2018	—		—		350
6.75% Series, due 2031	400		396		396
5.75% Series, due 2035	300		298		298
5.8% Series, due 2036	350		347		347
Transmission upgrade obligation, 4.45% and 3.42% due through 2035 and 2036, respectively	6		5		6
Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2018-1.74%, 2017-1.91%):
Due 2023, issued in 1993	7		7		7
Due 2023, issued in 2008	57		57		57
Due 2024	35		35		35
Due 2025	13		13		13
Due 2036	33		33		33
Due 2038	45		45		45
Due 2046	30		29		29
Due 2047	150		149		149
Capital lease obligations - 4.16%, due through 2020	2		2		2
Total	$	5,428	$	5,381	$	5,042

Maturities of Long-term Debt [Table Text Block]

Annual Repayments of Long-Term Debt

The annual repayments of BHE and subsidiary debt for the years beginning January 1, 2019 and thereafter, excluding fair value adjustments and unamortized premiums, discounts and debt issuance costs, are as follows (in millions):



											2024 and
	2019		2020		2021		2022		2023		Thereafter		Total

BHE senior notes	$	—	$	350	$	450	$	—	$	900	$	6,951	$	8,651
BHE junior subordinated debentures	—		—		—		—		—		100		100
PacifiCorp	352		40		425		606		450		5,203		7,076
MidAmerican Funding	500		2		—		1		315		4,850		5,668
NV Energy	523		913		28		29		271		2,557		4,321
Northern Powergrid	80		462		31		479		33		1,536		2,621
BHE Pipeline Group	—		—		200		—		—		850		1,050
BHE Transmission	148		245		—		348		367		2,748		3,856
BHE Renewables	483		168		175		172		177		2,263		3,438
HomeServices	20		27		33		153		—		—		233
Totals	$	2,106	$	2,207	$	1,342	$	1,788	$	2,513	$	27,058	$	37,014

MidAmerican Energy Company [Member]

Debt Instrument [Line Items]

Maturities of Long-term Debt [Table Text Block]

The annual repayments of MidAmerican Energy's long-term debt for the years beginning January 1, 2019, and thereafter, excluding unamortized premiums, discounts and debt issuance costs, are as follows (in millions):



2019	$	500
2020	2
2021	—
2022	—
2023	315
2024 and thereafter	4,611

Sierra Pacific Power Company [Member]

Debt Instrument [Line Items]

Subsidiary Debt [Table Text Block]

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 Value		2018		2017
General and refunding mortgage securities:
3.375% Series T, due 2023	$	250	$	249	$	248
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:
1.250% Pollution Control Series 2016A, due 2029⁽¹⁾	20		20		20
1.500% Gas Facilities Series 2016A, due 2031⁽¹⁾	59		58		58
3.000% Gas and Water Series 2016B, due 2036⁽²⁾	60		62		63
Variable-rate series (2018 - 1.750% to 1.820%, 2017 - 1.690% to 1.840%):
Water Facilities Series 2016C, due 2036	30		30		30
Water Facilities Series 2016D, due 2036	25		25		25
Water Facilities Series 2016E, due 2036	25		25		25
Capital and financial lease obligations - 2.700% to 10.297%, due through 2054	38		38		34
Total long-term debt and financial and capital leases	$	1,159	$	1,158	$	1,154

Reflected as:
Current portion of long-term debt and financial and capital lease obligations			$	3	$	2
Long-term debt and financial and capital lease obligations			1,155		1,152
Total long-term debt and financial and capital leases			$	1,158	$	1,154


(1)	Subject to mandatory purchase by Sierra Pacific in June 2019 at which date the interest rate may be adjusted from time to time.


(2)	Subject to mandatory purchase by Sierra Pacific in June 2022 at which date the interest rate may be adjusted from time to time.

Maturities of Long-term Debt [Table Text Block]

The annual repayments of long-term debt and capital and financial leases for the years beginning January 1, 2019 and thereafter, are as follows (in millions):



	Long-term			Capital and Financial
	Debt			Lease Obligations			Total

2019	$	—		$	6		$	6
2020	—			4			4
2021	—			5			5
2022	—			4			4
2023	250			4			254
Thereafter	871			47			918
Total	1,121			70			1,191
Unamortized premium, discount and debt issuance cost	(1		)	—			(1		)
Amounts representing interest	—			(32		)	(32		)
Total	$	1,120		$	38		$	1,158

Nevada Power Company [Member]

Debt Instrument [Line Items]

Subsidiary Debt [Table Text Block]

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 Value		2018		2017
General and refunding mortgage securities:
6.500% Series O, due 2018	$	—	$	—	$	324
6.500% Series S, due 2018	—		—		499
7.125% Series V, due 2019	500		500		499
6.650% Series N, due 2036	367		358		357
6.750% Series R, due 2037	349		346		346
5.375% Series X, due 2040	250		247		247
5.450% Series Y, due 2041	250		236		236
2.750%, Series BB, due 2020	575		574		—
Tax-exempt refunding revenue bond obligations:
Fixed-rate series:
1.800% Pollution Control Bonds Series 2017A, due 2032⁽¹⁾	40		40		40
1.600% Pollution Control Bonds Series 2017, due 2036⁽¹⁾	40		39		39
1.600% Pollution Control Bonds Series 2017B, due 2039⁽¹⁾	13		13		13
Capital and financial lease obligations - 2.750% to 11.600%, due through 2054	463		463		475
Total long-term debt and financial and capital leases	$	2,847	$	2,816	$	3,075

Reflected as:
Current portion of long-term debt and financial and capital lease obligations			$	520	$	842
Long-term debt and financial and capital lease obligations			2,296		2,233
Total long-term debt and financial and capital leases			$	2,816	$	3,075


(1)	Subject to mandatory purchase by Nevada Power in May 2020 at which date the interest rate may be adjusted from time to time.

Maturities of Long-term Debt [Table Text Block]

The annual repayments of long-term debt and capital and financial leases for the years beginning January 1, 2019 and thereafter, are as follows (in millions):



	Long-term			Capital and Financial
	Debt			Lease Obligations			Total

2019	$	500		$	78		$	578
2020	575			77			652
2021	—			80			80
2022	—			76			76
2023	—			52			52
Thereafter	1,309			709			2,018
Total	2,384			1,072			3,456
Unamortized premium, discount and debt issuance cost	(31		)	—			(31		)
Executory costs	—			(74		)	(74		)
Amounts representing interest	—			(535		)	(535		)
Total	$	2,353		$	463		$	2,816

PacifiCorp [Member]

Debt Instrument [Line Items]

Subsidiary Debt [Table Text Block]

PacifiCorp's long-term debt and capital lease obligations were as follows as of December 31 (dollars in millions):



	2018						2017
					Average				Average
	Principal		Carrying		Interest		Carrying		Interest
	Amount		Value		Rate		Value		Rate

First mortgage bonds:
2.95% to 8.53%, due through 2023	$	1,824	$	1,821	4.48	%	$	2,320	4.73	%
3.35% to 6.71%, due 2024 to 2026	775		771		3.92		771		3.92
7.70% due 2031	300		298		7.70		298		7.70
5.25% to 6.35%, due 2034 to 2038	2,350		2,338		5.96		2,337		5.96
4.10% to 6.00%, due 2039 to 2042	950		939		5.40		938		5.40
4.125%, due 2049	600		593		4.13		—		—
Variable-rate series, tax-exempt bond obligations (2018-1.67% to 1.85%; 2017-1.60% to 1.87%):
Due 2018 to 2020	38		38		1.85		79		1.77
Due 2018 to 2025⁽¹⁾	25		25		1.75		70		1.81
Due 2024⁽¹⁾⁽²⁾	143		142		1.68		142		1.73
Due 2024 to 2025⁽²⁾	50		50		1.75		50		1.72
Total long-term debt	7,055		7,015				7,005
Capital lease obligations:
8.75% to 14.61%, due through 2035	21		21		10.55		20		11.46
Total long-term debt and capital lease
obligations	$	7,076	$	7,036			$	7,025



Reflected as:
	2018		2017

Current portion of long-term debt and capital lease obligations	$	352	$	588
Long-term debt and capital lease obligations	6,684		6,437
Total long-term debt and capital lease obligations	$	7,036	$	7,025


1)	Supported by $170 million and $216 million of fully available letters of credit issued under committed bank arrangements as of December 31, 2018 and 2017, respectively.


2)	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.

Maturities of Long-term Debt [Table Text Block]

As of December 31, 2018, the annual principal maturities of long-term debt and total capital lease obligations for 2019 and thereafter are as follows (in millions):



	Long-term			Capital Lease
	Debt			Obligations			Total

2019	$	350		$	4		$	354
2020	38			3			41
2021	420			7			427
2022	605			3			608
2023	449			2			451
Thereafter	5,193			16			5,209
Total	7,055			35			7,090
Unamortized discount and debt issuance costs	(40		)	—			(40		)
Amounts representing interest	—			(14		)	(14		)
Total	$	7,015		$	21		$	7,036

BHE Pipeline Group [Member]

Debt Instrument [Line Items]

Subsidiary Debt [Table Text Block]

BHE Pipeline Group

BHE Pipeline Group's long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions):



	Par Value		2018		2017
Northern Natural Gas:
5.75% Senior Notes, due 2018	$	—	$	—	$	200
4.25% Senior Notes, due 2021	200		199		199
5.80% Senior Bonds, due 2037	150		149		149
4.10% Senior Bonds, due 2042	250		248		248
4.30% Senior Bonds, due 2049	450		446		—
Total BHE Pipeline Group	$	1,050	$	1,042	$	796

PacifiCorp [Member]

Debt Instrument [Line Items]

Subsidiary Debt [Table Text Block]

PacifiCorp

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 Value		2018		2017
First mortgage bonds:
2.95% to 8.53%, due through 2023	$	1,824	$	1,821	$	2,320
3.35% to 6.71%, due 2024 to 2026	775		771		771
7.70% due 2031	300		298		298
5.25% to 6.35%, due 2034 to 2038	2,350		2,338		2,337
4.10% to 6.00%, due 2039 to 2042	950		939		938
4.125%, due 2049	600		593		—
Variable-rate series, tax-exempt bond obligations (2018-1.67% to 1.85%; 2017-1.60% to 1.87%):
Due 2018 to 2020	38		38		79
Due 2018 to 2025⁽¹⁾	25		25		70
Due 2024⁽¹⁾⁽²⁾	143		142		142
Due 2024 to 2025⁽²⁾	50		50		50
Capital lease obligations - 8.75% to 14.61%, due through 2035	21		21		20
Total PacifiCorp	$	7,076	$	7,036	$	7,025


(1)	Supported by $170 million and $216 million of fully available letters of credit issued under committed bank arrangements as of December 31, 2018 and 2017, respectively.


(2)	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 [Member]

Debt Instrument [Line Items]

Subsidiary Debt [Table Text Block]

MidAmerican Funding

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 Value		2018		2017
MidAmerican Funding:
6.927% Senior Bonds, due 2029	$	240	$	217	$	216

MidAmerican Energy:
Tax-exempt bond obligations -
Variable-rate tax-exempt bond obligation series: (2018-1.74%, 2017-1.91%), due 2023-2047	370		368		368
First Mortgage Bonds:
2.40%, due 2019	500		500		499
3.70%, due 2023	250		249		248
3.50%, due 2024	500		501		501
3.10%, due 2027	375		372		372
4.80%, due 2043	350		346		346
4.40%, due 2044	400		394		394
4.25%, due 2046	450		445		445
3.95%, due 2047	475		470		470
3.65%, due 2048	700		688		—
Notes:
5.30% Series, due 2018	—		—		350
6.75% Series, due 2031	400		396		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	7		5		6
Capital lease obligations - 4.16%, due through 2020	1		2		2
Total MidAmerican Energy	5,428		5,382		5,043
Total MidAmerican Funding	$	5,668	$	5,599	$	5,259

NV Energy, Inc. [Member]

Debt Instrument [Line Items]

Subsidiary Debt [Table Text Block]

NV Energy

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 Value		2018		2017
NV Energy -
6.250% Senior Notes, due 2020	$	315	$	330	$	337

Nevada Power:
General and refunding mortgage securities:
6.500% Series O, due 2018	—		—		324
6.500% Series S, due 2018	—		—		499
7.125% Series V, due 2019	500		500		499
2.750%, Series BB, due 2020	575		574		—
6.650% Series N, due 2036	367		360		359
6.750% Series R, due 2037	349		348		348
5.375% Series X, due 2040	250		248		248
5.450% Series Y, due 2041	250		244		244
Tax-exempt refunding revenue bond obligations:
Fixed-rate series:
1.800% Pollution Control Bonds Series 2017A, due 2032⁽¹⁾	40		40		40
1.600% Pollution Control Bonds Series 2017, due 2036⁽¹⁾	40		39		39
1.600% Pollution Control Bonds Series 2017B, due 2039⁽¹⁾	13		13		13
Capital and financial lease obligations - 2.750% to 11.600%, due through 2054	463		463		475
Total Nevada Power	2,847		2,829		3,088

Sierra Pacific:
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		256		256
Tax-exempt refunding revenue bond obligations:
Fixed-rate series:
1.250% Pollution Control Series 2016A, due 2029⁽²⁾	20		20		20
1.500% Gas Facilities Series 2016A, due 2031⁽²⁾	59		58		58
3.000% Gas and Water Series 2016B, due 2036⁽³⁾	60		62		63
Variable-rate series (2018 - 1.750% to 1.820%, 2017 - 1.690% to 1.840%):
Water Facilities Series 2016C, due 2036	30		30		30
Water Facilities Series 2016D, due 2036	25		25		25
Water Facilities Series 2016E, due 2036	25		25		25
Capital and financial lease obligations - 2.700% to 10.297%, due through 2054	38		38		34
Total Sierra Pacific	1,159		1,159		1,156
Total NV Energy	$	4,321	$	4,318	$	4,581

Northern Powergrid Holdings [Member]

Debt Instrument [Line Items]

Subsidiary Debt [Table Text Block]

gages.

Northern Powergrid

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⁾		2018		2017

8.875% Bonds, due 2020	$	128	$	133	$	144
9.25% Bonds, due 2020	255		260		279
3.901% to 4.586% European Investment Bank loans, due 2018 to 2022	294		293		366
7.25% Bonds, due 2022	255		262		279
2.50% Bonds due 2025	191		189		200
2.073% European Investment Bank loan, due 2025	64		65		69
2.564% European Investment Bank loans, due 2027	319		318		336
7.25% Bonds, due 2028	237		241		256
4.375% Bonds, due 2032	191		188		199
5.125% Bonds, due 2035	255		252		267
5.125% Bonds, due 2035	191		189		200
Variable-rate bond, due 2026⁽²⁾	241		236		210
Total Northern Powergrid	$	2,621	$	2,626	$	2,805


(1)	The par values for these debt instruments are denominated in sterling.


(2)	Amortizes semiannually and the Company has entered into an interest rate swap that fixes the interest rate on 85% of the outstanding debt. The variable interest rate as of December 31, 2018 was 2.66% while the fixed interest rate was 2.82%.

BHE Transmission [Member]

Debt Instrument [Line Items]

Subsidiary Debt [Table Text Block]

BHE Transmission

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⁾		2018		2017
AltaLink Investments, L.P.:
Series 12-1 Senior Bonds, 3.674%, due 2019	$	147	$	148	$	162
Series 13-1 Senior Bonds, 3.265%, due 2020	147		148		161
Series 15-1 Senior Bonds, 2.244%, due 2022	147		146		158
Total AltaLink Investments, L.P.	441		442		481

AltaLink, L.P.:
Series 2008-1 Notes, 5.243%, due 2018	—		—		159
Series 2013-2 Notes, 3.621%, due 2020	92		92		99
Series 2012-2 Notes, 2.978%, due 2022	202		201		218
Series 2013-4 Notes, 3.668%, due 2023	366		366		397
Series 2014-1 Notes, 3.399%, due 2024	256		256		278
Series 2016-1 Notes, 2.747%, due 2026	256		255		277
Series 2006-1 Notes, 5.249%, due 2036	110		109		119
Series 2010-1 Notes, 5.381%, due 2040	92		91		99
Series 2010-2 Notes, 4.872%, due 2040	110		109		119
Series 2011-1 Notes, 4.462%, due 2041	202		201		218
Series 2012-1 Notes, 3.990%, due 2042	385		380		412
Series 2013-3 Notes, 4.922%, due 2043	256		256		278
Series 2014-3 Notes, 4.054%, due 2044	216		215		233
Series 2015-1 Notes, 4.090%, due 2045	256		255		277
Series 2016-2 Notes, 3.717%, due 2046	330		328		356
Series 2013-1 Notes, 4.446%, due 2053	183		183		198
Series 2014-2 Notes, 4.274%, due 2064	95		95		103
Total AltaLink, L.P.	3,407		3,392		3,840

Other:
Construction Loan, 5.660%, due 2020	8		8		13

Total BHE Transmission	$	3,856	$	3,842	$	4,334


(1)	The par values for these debt instruments are denominated in Canadian dollars.

BHE Renewables [Member]

Debt Instrument [Line Items]

Subsidiary Debt [Table Text Block]

llars.

BHE Renewables

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 Value		2018		2017
Fixed-rate⁽¹⁾:
Bishop Hill Holdings Senior Notes, 5.125%, due 2032	85		84		93
Solar Star Funding Senior Notes, 3.950%, due 2035	295		292		310
Solar Star Funding Senior Notes, 5.375%, due 2035	924		915		965
Grande Prairie Wind Senior Notes, 3.860%, due 2037	396		392		404
Topaz Solar Farms Senior Notes, 5.750%, due 2039	718		709		745
Topaz Solar Farms Senior Notes, 4.875%, due 2039	207		205		217
Alamo 6 Senior Notes, 4.170%, due 2042	224		221		229
Other	16		16		19
Variable-rate⁽¹⁾:
Pinyon Pines I and II Term Loans, due 2019⁽²⁾	310		310		333
TX Jumbo Road Term Loan, due 2025⁽²⁾	180		176		193
Marshall Wind Term Loan, due 2026⁽²⁾	83		81		86
Total BHE Renewables	$	3,438	$	3,401	$	3,594


(1)	Amortizes quarterly or semiannually.

(2)

The term loans have variable interest rates based on LIBOR 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 75% of the Pinyon Pines outstanding debt and 100% of the TX Jumbo Road and Marshall Wind outstanding debt. The variable interest rate as of December 31, 2018 and 2017 was 4.55% and 3.32%, respectively, while the fixed interest rates as of December 31, 2018 and 2017 ranged from 3.21% to 3.63%.

HomeServices [Member]

Debt Instrument [Line Items]

Subsidiary Debt [Table Text Block]

HomeServices

HomeServices' long-term debt consists of the following, including unamortized premiums, discounts and debt issuance costs, as of December 31 (dollars in millions):



	Par Value		2018		2017
Variable-rate⁽¹⁾:
Variable-rate term loan (2018 - 4.022%, 2017 - 2.819%), due 2022	$	233	$	233	$	247


(1)	Amortizes quarterly.