Debt and Financing Arrangements (Notes)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Debt and Financing Arrangements

Debt and Financing Arrangements

Credit Facility

We, along with Williams and Northwest Pipeline LLC (Northwest), are party to a credit agreement with aggregate commitments available of $3.75 billion, with up to an additional $500 million increase in aggregate commitments available under certain circumstances. We and Northwest are each able to borrow up to $500 million under the credit facility to the extent not otherwise utilized by the other co-borrowers. At June 30, 2022, no letters of credit have been issued and no loans were outstanding under the credit facility.

Commercial Paper

Williams participates in a $3.5 billion commercial paper program, and Williams’ management considers amounts outstanding under this program to be a reduction of available capacity under the credit facility. At June 30, 2022, $1.040 billion was outstanding under Williams’ commercial paper program.

Other Financing Obligations

Dalton Expansion Project

At June 30, 2022 and December 31, 2021, the amount included in Long-Term Debt on the Balance Sheet for this financing obligation was $250.6 million and $251.9 million, respectively, and the amount included in Long-term debt due within one year on the Balance Sheet for this financing obligation is $2.6 million and $2.5 million, respectively.

Atlantic Sunrise Project

During the first six months of 2022 and 2021, we received an additional $1.3 million and $1.8 million, respectively, of funding from a co-owner for its proportionate share of construction costs related to its undivided ownership interest in certain parts of the project. This additional funding is reflected in Long-Term Debt on the Balance Sheet. At June 30, 2022 and December 31, 2021, the amount included in Long-Term Debt on the Balance Sheet for this financing obligation was $796.4 million and $807.1 million, respectively, and the amount included in Long-term debt due within one year on the Balance Sheet for this financing obligation was $23.4 million and $22.4 million, respectively.

Leidy South Project

During the first six months of 2022, we received an additional $3.9 million of funding from a co-owner for its proportionate share of construction costs related to its undivided joint ownership interest in certain parts of the project. This additional funding is reflected in Long-Term Debt on the Balance Sheet. At June 30, 2022 and December 31, 2021, the amount included in Long-Term Debt on the Balance Sheet for this financing obligation was $75.0 million and $71.5 million, respectively, and the amount included in Long-term debt due within one year on the Balance Sheet for this financing obligation was $0.7 million and $0.7 million, respectively.