At December 31, 2012 and 2011, long-term debt issues were outstanding as follows (in thousands):

			2012		2011
Debentures:
	7.08% due 2026		$	7,500	$	7,500
	7.25% due 2026			200,000		200,000
		Total debentures		207,500		207,500

Notes:
	8.875% due 2012			-		325,000
	6.4% due 2016			200,000		200,000
	6.05% due 2018			250,000		250,000
	5.4% due 2041			375,000		375,000
	4.45% due 2042			400,000		-
		Total notes		1,225,000		1,150,000
Total long-term debt issues				1,432,500		1,357,500
	Unamortized debt premium and discount			(4,177)		(3,103)
	Current maturities			-		(325,000)

Total long-term debt, less current maturities			$	1,428,323	$	1,029,397

Aggregate minimum maturities (face value) applicable to long-term debt outstanding at December 31, 2012, for the next five years, are as follows (in thousands):

There are no maturities applicable to long-term debt outstanding for the years 2013, 2014, 2015 and 2017.

At December 31, 2012, none of our debt instruments restrict the amount of distributions to our parent. Our debt agreements contain restrictions on our ability to incur secured debt beyond certain levels.

In September 2012, WPZ amended its existing $2 billion senior unsecured revolving credit facility agreement to increase the aggregate commitments by $400 million. This facility was also amended to provide an additional $400 million increase to be available under certain conditions in the future. We may borrow up to $400 million under the credit facility to the extent not otherwise utilized by WPZ and Northwest Pipeline GP.

Under the Credit Facility, WPZ is required to maintain a ratio of debt to EBITDA (each as defined in the Credit Facility) that must be no greater than 5.0 to 1.0. For the fiscal quarter and the two following fiscal quarters in which one or more acquisitions for a total aggregate purchase price equal to or greater than $50 million has been executed, WPZ is required to maintain a ratio of debt to EBITDA of no greater than 5.5 to 1.00. For us and our consolidated subsidiaries, the ratio of debt to capitalization (defined as net worth plus debt) must be no greater than 65 percent. At December 31, 2012, we are in compliance with these financial covenants.

Each time funds are borrowed, the borrower may choose from two methods of calculating interest: a fluctuating base rate equal to Citibank N.A.'s alternate base rate plus an applicable margin, or a periodic fixed rate equal to London Interbank Offered Rate (LIBOR) plus an applicable margin. The borrower is required to pay a commitment fee (currently 0.20 percent) based on the unused portion of the Credit Facility. The applicable margin and the commitment fee are determined for each borrower by reference to a pricing schedule based on such borrower's senior unsecured long-term debt ratings. The Credit Facility contains various covenants that limit, among other things, a borrower's and its respective material subsidiaries' ability to grant certain liens supporting indebtedness, a borrower's ability to merge or consolidate, sell all or substantially all of its assets, enter into certain affiliate transactions, make certain distributions during an event of default, make investments and allow any material change in the nature of its business.

The Credit Facility includes customary events of default. If an event of default with respect to a borrower occurs under the Credit Facility, the lenders will be able to terminate the commitments for all borrowers and accelerate the maturity of any loans of the defaulting borrower and exercise other rights and remedies.

Letter of credit capacity under the $2.4 billion credit facility is $1.3 billion. At December 31, 2012, no letters of credit have been issued and $375 million of loans, none by us, were outstanding under the credit facility. At December 31, 2012, the full $400 million under the credit facility was available to us.

In August 2011, we issued $375 million of 5.4 percent senior unsecured notes due 2041 to investors in a private debt placement. As part of the new issuance, we entered into a registration rights agreement with the initial purchasers of the notes. An offer to exchange these unregistered notes for substantially identical new notes that are registered under the Securities Act of 1933, as amended, was commenced in February 2012 and completed in March 2012.

On July 13, 2012, we issued $400 million aggregate principal amount of 4.45 percent senior unsecured notes due 2042 (4.45 percent Notes) to certain institutional investors pursuant to certain exemptions from registration under the Securities Act of 1933, as amended. Interest is payable on February 1 and August 1 of each year, beginning February 1, 2013. A portion of these proceeds was used to repay our $325 million 8.875 percent notes that matured on July 15, 2012. We used the remainder for general corporate purposes, including the funding of capital expenditures.

As part of the new issuance, we entered into a registration rights agreement with the initial purchasers of the 4.45 percent Notes. An offer to exchange these unregistered notes for substantially identical new notes that are registered under the Securities Act of 1933, as amended, was commenced in November 2012 and completed in December 2012.

The future minimum lease payments under our various operating leases are as follows (in thousands):

2013	$	9,658
2014		9,654
2015		9,524
2016		9,524
2017		9,523
Thereafter		30,758
Total net minimum obligations	$	78,641

Our lease expense was $10.9 million in 2012, $9.1 million in 2011, and $9.3 million in 2010.