Debt and Financing Arrangements (Notes)

6 Months Ended

Jun. 30, 2017

Debt Disclosure [Abstract]

Debt and Financing Arrangements

DEBT AND FINANCING ARRANGEMENTS

Credit Facility

We along with WPZ and Northwest Pipeline LLC, are party to a credit agreement with aggregate commitments available of $3.5 billion, with up to an additional $500 million increase in aggregate commitments available under certain circumstances. Total letter of credit capacity available to WPZ under this credit facility is $1.125 billion. We are able to borrow up to $500 million under this credit facility to the extent not otherwise utilized by the other co-borrowers. At June 30, 2017, no letters of credit have been issued and no loans were outstanding under the credit facility.

WPZ participates in a commercial paper program, and WPZ management considers amounts outstanding under this program to be a reduction of available capacity under the credit facility. The program allows a maximum outstanding amount at any time of $3 billion of unsecured commercial paper notes. At June 30, 2017, no commercial paper was outstanding under the commercial paper program.

Long-Term Debt Due Within One Year

The long-term debt due within one year at June 30, 2017 is associated with the $250 million of 6.05 percent notes maturing on June 15, 2018.