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Subsidiary Debt (Tables)

12 Months Ended

Dec. 31, 2019

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		2019		2018

2.40% Senior Notes, due 2020	$	350	$	349	$	349
2.375% Senior Notes, due 2021	450		448		448
2.80% Senior Notes, due 2023	400		398		398
3.75% Senior Notes, due 2023	500		498		498
3.50% Senior Notes, due 2025	400		398		398
3.25% Senior Notes, due 2028	600		594		594
8.48% Senior Notes, due 2028	256		259		257
6.125% Senior Bonds, due 2036	1,670		1,661		1,661
5.95% Senior Bonds, due 2037	550		548		547
6.50% Senior Bonds, due 2037	225		223		222
5.15% Senior Notes, due 2043	750		740		740
4.50% Senior Notes, due 2045	750		738		738
3.80% Senior Notes, due 2048	750		737		737
4.45% Senior Notes, due 2049	1,000		990		990
Total BHE Senior Debt	$	8,651	$	8,581	$	8,577

Reflected as:
Current liabilities			$	350	$	—
Noncurrent liabilities			8,231		8,577
Total BHE Senior Debt			$	8,581	$	8,577

Junior Subordinated Debentures

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



	Par Value		2019		2018

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		2019		2018

PacifiCorp	$	7,705	$	7,658	$	7,015
MidAmerican Funding	7,515		7,427		5,597
NV Energy	3,836		3,821		3,817
Northern Powergrid	3,234		3,221		2,626
BHE Pipeline Group	1,250		1,247		1,042
BHE Transmission	3,891		3,879		3,842
BHE Renewables	3,239		3,206		3,401
HomeServices	213		213		233
Total subsidiary debt	$	30,883	$	30,672	$	27,573

Reflected as:
Current liabilities			$	2,189	$	2,081
Noncurrent liabilities			28,483		25,492
Total subsidiary debt			$	30,672	$	27,573

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		2019		2018

First mortgage bonds:
2.40%, due 2019	$	—	$	—	$	500
3.70%, due 2023	250		249		249
3.50%, due 2024	500		501		500
3.10%, due 2027	375		373		372
3.65%, due 2029	850		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		688		688
4.25%, due 2049	900		872		—
3.15%, due 2050	600		591		—
Notes:
6.75% Series, due 2031	400		396		396
5.75% Series, due 2035	300		298		298
5.8% Series, due 2036	350		348		347
Transmission upgrade obligation, 4.45% and 3.42% due through 2035 and 2036, respectively	6		4		5
Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2019-1.66%, 2018-1.74%):
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
Total	$	7,276	$	7,208	$	5,379

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, 2020 and thereafter, excluding fair value adjustments and unamortized premiums, discounts and debt issuance costs, are as follows (in millions):



											2025 and
	2020		2021		2022		2023		2024		Thereafter		Total

BHE senior notes	$	350	$	450	$	—	$	900	$	—	$	6,951	$	8,651
BHE junior subordinated debentures	—		—		—		—		—		100		100
PacifiCorp	38		420		605		449		591		5,602		7,705
MidAmerican Funding	—		—		—		315		535		6,665		7,515
NV Energy	890		—		—		250		—		2,696		3,836
Northern Powergrid	480		32		498		34		35		2,155		3,234
BHE Pipeline Group	—		200		—		—		—		1,050		1,250
BHE Transmission	251		1		366		386		270		2,617		3,891
BHE Renewables	503		172		170		174		184		2,036		3,239
HomeServices	27		33		153		—		—		—		213
Totals	$	2,539	$	1,308	$	1,792	$	2,508	$	1,615	$	29,872	$	39,634

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, 2020, and thereafter, excluding unamortized premiums, discounts and debt issuance costs, are as follows (in millions):



2020	$	—
2021	—
2022	1
2023	315
2024	535
2025 and thereafter	6,425

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		2019		2018
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:
1.250% Pollution Control Series 2016A, due 2029	—		—		20
1.850% Pollution Control Series 2016B, due 2029 ⁽¹⁾	30		29		—
1.500% Gas Facilities Series 2016A, due 2031	—		—		58
3.000% Gas and Water Series 2016B, due 2036 ⁽²⁾	60		62		62
1.850% Water Facilities Series 2016C, due 2036 ⁽³⁾	—		—		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		—
1.850% Water Facilities Series 2016G, due 2036 ⁽¹⁾	20		20		—
Total long-term debt	$	1,137	$	1,135	$	1,120

Reflected as -
Long-term debt			$	1,135	$	1,120


(1)	Subject to mandatory purchase by Sierra Pacific in April 2022 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.


(3)	Bond was purchased by Sierra Pacific during 2019. As of December 31, 2018 the bond variable interest rate was 1.750% to 1.820%.


(4)	Bonds were purchased by Sierra Pacific during 2019 and re-offered at a fixed interest rate. As of December 31, 2018 the bonds variable interest rate was 1.750% to 1.820%.

Maturities of Long-term Debt [Table Text Block]

The annual repayments of long-term debt for the years beginning January 1, 2020 and thereafter, are as follows (in millions):



2023	$	250
2025 and thereafter	887
Total	1,137
Unamortized premium, discount and debt issuance cost	(2		)
Total	$	1,135

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		2019		2018
General and refunding mortgage securities:
7.125% Series V, due 2019	$	—	$	—	$	500
2.750%, Series BB, due 2020	575		575		574
3.700%, Series CC, due 2029	500		496		—
6.650% Series N, due 2036	367		358		358
6.750% Series R, due 2037	349		346		346
5.375% Series X, due 2040	250		248		247
5.450% Series Y, due 2041	250		237		236
Tax-exempt refunding revenue bond obligations:
Fixed-rate series:
1.800% Pollution Control Bonds Series 2017A, due 2032⁽¹⁾	40		39		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
Total long-term debt	$	2,384	$	2,351	$	2,353

Reflected as:
Current portion of long-term debt			$	575	$	500
Long-term debt			1,776		1,853
Total long-term debt			$	2,351	$	2,353


(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 for the years beginning January 1, 2020 and thereafter, are as follows (in millions):



2020	$	575
2025 and thereafter	1,809
Total	2,384
Unamortized premium, discount and debt issuance cost	(33		)
Total	$	2,351

PacifiCorp [Member]

Debt Instrument [Line Items]

Subsidiary Debt [Table Text Block]

PacifiCorp's long-term debt was as follows as of December 31 (dollars in millions):



	2019						2018
					Average				Average
	Principal		Carrying		Interest		Carrying		Interest
	Amount		Value		Rate		Value		Rate

First mortgage bonds:
2.95% to 8.53%, due through 2024	$	1,899	$	1,895	4.09	%	$	2,244	4.31	%
3.35% to 6.71%, due 2025 to 2026	350		349		4.31		348		4.31
3.50% to 7.70%, due 2029 to 2031	700		696		5.30		298		7.70
5.25% to 6.35%, due 2034 to 2038	2,350		2,338		5.96		2,338		5.96
4.10% to 6.00%, due 2039 to 2042	950		939		5.40		939		5.40
4.13% to 4.15%, due 2049 to 2050	1,200		1,186		4.14		593		4.13
Variable-rate series, tax-exempt bond obligations (2019-1.60% to 1.80%; 2018-1.67% to 1.85%):
Due 2020	38		38		1.78		38		1.85
Due 2024⁽¹⁾⁽²⁾	143		143		1.73		142		1.68
Due 2025⁽¹⁾	25		24		1.75		25		1.75
Due 2024 to 2025⁽²⁾	50		50		1.63		50		1.75
Total long-term debt	$	7,705	$	7,658			$	7,015



Reflected as:
	2019		2018

Current portion of long-term debt	$	38	$	350
Long-term debt	7,620		6,665
Total long-term debt	$	7,658	$	7,015


1)	Supported by $170 million of fully available letters of credit issued under committed bank arrangements as of December 31, 2018. These arrangements were canceled in 2019.


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, 2019, the annual principal maturities of long-term debt for 2020 and thereafter are as follows (in millions):



	Long-term
	Debt

2020	$	38
2021	420
2022	605
2023	449
2024	591
Thereafter	5,602
Total	7,705
Unamortized discount and debt issuance costs	(47		)
Total	$	7,658

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		2019		2018
Northern Natural Gas:
4.25% Senior Notes, due 2021	$	200	$	200	$	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	650		650		446
Total BHE Pipeline Group	$	1,250	$	1,247	$	1,042

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		2019		2018
First mortgage bonds:
2.95% to 8.53%, due through 2024	$	1,899	$	1,895	$	2,244
3.35% to 6.71%, due 2025 to 2026	350		349		348
3.50% to 7.70%, due 2029 to 2031	700		696		298
5.25% to 6.35%, due 2034 to 2038	2,350		2,338		2,338
4.10% to 6.00%, due 2039 to 2042	950		939		939
4.13% to 4.15%, due 2049 to 2050	1,200		1,186		593
Variable-rate series, tax-exempt bond obligations (2019-1.60% to 1.80%; 2018-1.67% to 1.85%):
Due 2020	38		38		38
Due 2024⁽¹⁾⁽²⁾	143		143		142
Due 2025⁽¹⁾	25		24		25
Due 2024 to 2025⁽²⁾	50		50		50
Total PacifiCorp	$	7,705	$	7,658	$	7,015


(1)	Supported by $170 million of fully available letters of credit issued under committed bank arrangements as of December 31, 2018. These arrangements were canceled in 2019.


(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		2019		2018
MidAmerican Funding:
6.927% Senior Bonds, due 2029	$	239	$	219	$	217

MidAmerican Energy:
Tax-exempt bond obligations -
Variable-rate tax-exempt bond obligation series: (weighted average interest rate- 2019-1.66%, 2018-1.74%), due 2023-2047	$	370	$	368	$	368
First Mortgage Bonds:
2.40%, due 2019	—		—		500
3.70%, due 2023	250		249		249
3.50%, due 2024	500		501		501
3.10%, due 2027	375		373		372
3.65%, due 2029	850		864		—
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		688
4.25%, due 2049	900		872		—
3.15%, due 2050	600		591		—
Notes:
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	6		4		5
Total MidAmerican Energy	7,276		7,208		5,380
Total MidAmerican Funding	$	7,515	$	7,427	$	5,597

NV Energy [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		2019		2018
NV Energy:
6.250% Senior Notes, due 2020	$	315	$	321	$	330

Nevada Power:
General and refunding mortgage securities:
7.125% Series V, due 2019	—		—		500
2.750%, Series BB, due 2020	575		575		574
3.700%, Series CC, due 2029	500		496		—
6.650% Series N, due 2036	367		360		360
6.750% Series R, due 2037	349		348		348
5.375% Series X, due 2040	250		249		248
5.450% Series Y, due 2041	250		245		244
Tax-exempt refunding revenue bond obligations:
Fixed-rate series:
1.800% Pollution Control Bonds Series 2017A, due 2032⁽¹⁾	40		39		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
Total Nevada Power	2,384		2,364		2,366

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	—		—		20
1.850% Pollution Control Series 2016B, due 2029⁽²⁾	30		29		—
1.500% Gas Facilities Series 2016A, due 2031	—		—		58
3.000% Gas and Water Series 2016B, due 2036⁽³⁾	60		62		62
1.850% Water Facilities Series 2016C, due 2036⁽⁴⁾	—		—		30
2.050% Water Facilities Series 2016D, due 2036⁽²⁾⁽⁵⁾	25		25		25
2.050% Water Facilities Series 2016E, due 2036⁽²⁾⁽⁵⁾	25		25		25
2.050% Water Facilities Series 2016F, due 2036⁽²⁾	75		74		—
1.850% Water Facilities Series 2016G, due 2036⁽²⁾	20		20		—
Total Sierra Pacific	1,137		1,136		1,121
Total NV Energy	$	3,836	$	3,821	$	3,817

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⁾		2019		2018

8.875% Bonds, due 2020	$	133	$	135	$	133
9.25% Bonds, due 2020	265		265		260
4.133% to 4.586% European Investment Bank loans, due 2019 to 2022	251		252		293
7.25% Bonds, due 2022	265		270		262
2.50% Bonds, due 2025	199		197		189
2.073% European Investment Bank loan, due 2025	66		68		65
2.564% European Investment Bank loans, due 2027	332		330		318
7.25% Bonds, due 2028	246		250		241
4.375% Bonds, due 2032	199		196		188
5.125% Bonds, due 2035	265		262		252
5.125% Bonds, due 2035	199		197		189
2.750% Bonds, due 2049	199		196		—
2.250% Bonds, due 2059	398		389		—
Variable-rate bond, due 2026⁽²⁾	217		214		236
Total Northern Powergrid	$	3,234	$	3,221	$	2,626


(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 86% of the outstanding debt. The variable interest rate as of December 31, 2019 was 2.54% 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⁾		2019		2018
AltaLink Investments, L.P.:
Series 12-1 Senior Bonds, 3.674%, due 2019	$	—	$	—	$	148
Series 13-1 Senior Bonds, 3.265%, due 2020	154		154		148
Series 15-1 Senior Bonds, 2.244%, due 2022	154		154		146
Total AltaLink Investments, L.P.	308		308		442

AltaLink, L.P.:
Series 2013-2 Notes, 3.621%, due 2020	96		96		92
Series 2012-2 Notes, 2.978%, due 2022	212		212		201
Series 2013-4 Notes, 3.668%, due 2023	385		384		366
Series 2014-1 Notes, 3.399%, due 2024	269		269		256
Series 2016-1 Notes, 2.747%, due 2026	269		269		255
Series 2006-1 Notes, 5.249%, due 2036	115		115		109
Series 2010-1 Notes, 5.381%, due 2040	96		96		91
Series 2010-2 Notes, 4.872%, due 2040	115		115		109
Series 2011-1 Notes, 4.462%, due 2041	212		211		201
Series 2012-1 Notes, 3.990%, due 2042	404		398		380
Series 2013-3 Notes, 4.922%, due 2043	269		268		256
Series 2014-3 Notes, 4.054%, due 2044	227		226		215
Series 2015-1 Notes, 4.090%, due 2045	269		268		255
Series 2016-2 Notes, 3.717%, due 2046	346		345		328
Series 2013-1 Notes, 4.446%, due 2053	192		192		183
Series 2014-2 Notes, 4.274%, due 2064	100		100		95
Total AltaLink, L.P.	3,576		3,564		3,392

Other:
Construction Loan, 5.620%, due 2020	7		7		8

Total BHE Transmission	$	3,891	$	3,879	$	3,842


(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		2019		2018
Fixed-rate⁽¹⁾:
Bishop Hill Holdings Senior Notes, 5.125%, due 2032	$	78	$	77	$	84
Solar Star Funding Senior Notes, 3.950%, due 2035	283		280		292
Solar Star Funding Senior Notes, 5.375%, due 2035	894		886		915
Grande Prairie Wind Senior Notes, 3.860%, due 2037	358		355		392
Topaz Solar Farms Senior Notes, 5.750%, due 2039	680		672		709
Topaz Solar Farms Senior Notes, 4.875%, due 2039	195		193		205
Alamo 6 Senior Notes, 4.170%, due 2042	216		213		221
Other	13		13		16
Variable-rate⁽¹⁾:
Pinyon Pines I and II Term Loans, due 2020⁽²⁾	284		284		310
TX Jumbo Road Term Loan, due 2025⁽²⁾	161		158		176
Marshall Wind Term Loan, due 2026⁽²⁾	77		75		81
Total BHE Renewables	$	3,239	$	3,206	$	3,401


(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 through December 31, 2019 and 50% of the Pinyon Pines outstanding debt thereafter, and 100% of the TX Jumbo Road and Marshall Wind outstanding debt. The variable interest rate as of December 31, 2019 and 2018 was 3.69% and 4.55%, respectively, while the fixed interest rates as of December 31, 2019 and 2018 ranged from 3.21% to 5.41%.

In January 2020, Pinyon Pines I and II repaid $284 million of its variable-rate term loans. This debt was refinanced with $382 million of fifteen year variable-rate term loans due December 2034. The new term loans amortize semiannually and 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 100% of the new term loans.

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		2019		2018
Variable-rate:
Variable-rate term loan (2019 - 3.299%, 2018 - 4.022%), due 2022⁽¹⁾	$	213	$	213	$	233


(1)	Term loan amortizes quarterly and variable-rate resets monthly.