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Debt Obligations | 9 Months Ended
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Sep. 30, 2013
Debt Obligations [Abstract] |
Debt Obligations | Note 9. Debt Obligations The following table presents our consolidated debt obligations (arranged by company and maturity date) at the dates indicated:
|  | September 30, |  |  | December 31, |
|  | 2013 |  |  | 2012 |
EPO senior debt obligations: |  |  |  |  |  |
Commercial Paper Notes, fixed-rates (1) |  | $ | 550.0 |  |  | $ | 346.6 |
Senior Notes C, 6.375% fixed-rate, due February 2013 |  |  | -- |  |  |  | 350.0 |
Senior Notes T, 6.125% fixed-rate, due February 2013 |  |  | -- |  |  |  | 182.5 |
Senior Notes M, 5.65% fixed-rate, due April 2013 |  |  | -- |  |  |  | 400.0 |
Senior Notes U, 5.90% fixed-rate, due April 2013 |  |  | -- |  |  |  | 237.6 |
Senior Notes O, 9.75% fixed-rate, due January 2014 |  |  | 500.0 |  |  |  | 500.0 |
364-Day Credit Agreement, variable-rate, due June 2014 |  |  | -- |  |  |  | -- |
Senior Notes G, 5.60% fixed-rate, due October 2014 |  |  | 650.0 |  |  |  | 650.0 |
Senior Notes I, 5.00% fixed-rate, due March 2015 |  |  | 250.0 |  |  |  | 250.0 |
Senior Notes X, 3.70% fixed-rate, due June 2015 |  |  | 400.0 |  |  |  | 400.0 |
Senior Notes FF, 1.25% fixed-rate, due August 2015 |  |  | 650.0 |  |  |  | 650.0 |
Senior Notes AA, 3.20% fixed-rate, due February 2016 |  |  | 750.0 |  |  |  | 750.0 |
Senior Notes L, 6.30% fixed-rate, due September 2017 |  |  | 800.0 |  |  |  | 800.0 |
Senior Notes V, 6.65% fixed-rate, due April 2018 |  |  | 349.7 |  |  |  | 349.7 |
$3.5 Billion Multi-Year Revolving Credit Facility, variable-rate, due June 2018 |  |  | 100.0 |  |  |  | -- |
Senior Notes N, 6.50% fixed-rate, due January 2019 |  |  | 700.0 |  |  |  | 700.0 |
Senior Notes Q, 5.25% fixed-rate, due January 2020 |  |  | 500.0 |  |  |  | 500.0 |
Senior Notes Y, 5.20% fixed-rate, due September 2020 |  |  | 1,000.0 |  |  |  | 1,000.0 |
Senior Notes CC, 4.05% fixed-rate, due February 2022 |  |  | 650.0 |  |  |  | 650.0 |
Senior Notes HH, 3.35% fixed-rate, due March 2023 |  |  | 1,250.0 |  |  |  | -- |
Senior Notes D, 6.875% fixed-rate, due March 2033 |  |  | 500.0 |  |  |  | 500.0 |
Senior Notes H, 6.65% fixed-rate, due October 2034 |  |  | 350.0 |  |  |  | 350.0 |
Senior Notes J, 5.75% fixed-rate, due March 2035 |  |  | 250.0 |  |  |  | 250.0 |
Senior Notes W, 7.55% fixed-rate, due April 2038 |  |  | 399.6 |  |  |  | 399.6 |
Senior Notes R, 6.125% fixed-rate, due October 2039 |  |  | 600.0 |  |  |  | 600.0 |
Senior Notes Z, 6.45% fixed-rate, due September 2040 |  |  | 600.0 |  |  |  | 600.0 |
Senior Notes BB, 5.95% fixed-rate, due February 2041 |  |  | 750.0 |  |  |  | 750.0 |
Senior Notes DD, 5.70% fixed-rate, due February 2042 |  |  | 600.0 |  |  |  | 600.0 |
Senior Notes EE, 4.85% fixed-rate, due August 2042 |  |  | 750.0 |  |  |  | 750.0 |
Senior Notes GG, 4.45% fixed-rate, due February 2043 |  |  | 1,100.0 |  |  |  | 1,100.0 |
Senior Notes II, 4.85% fixed-rate, due March 2044 |  |  | 1,000.0 |  |  |  | -- |
TEPPCO senior debt obligations: |  |  |  |  |  |  |  |
TEPPCO Senior Notes, 6.125% fixed-rate, due February 2013 |  |  | -- |  |  |  | 17.5 |
TEPPCO Senior Notes, 5.90% fixed-rate, due April 2013 |  |  | -- |  |  |  | 12.4 |
TEPPCO Senior Notes, 6.65% fixed-rate, due April 2018 |  |  | 0.3 |  |  |  | 0.3 |
TEPPCO Senior Notes, 7.55% fixed-rate, due April 2038 |  |  | 0.4 |  |  |  | 0.4 |
Total principal amount of senior debt obligations |  |  | 16,000.0 |  |  |  | 14,646.6 |
EPO Junior Subordinated Notes A, fixed/variable-rate, due August 2066 |  |  | 550.0 |  |  |  | 550.0 |
EPO Junior Subordinated Notes C, fixed/variable-rate, due June 2067 |  |  | 285.8 |  |  |  | 285.8 |
EPO Junior Subordinated Notes B, fixed/variable-rate, due January 2068 |  |  | 682.7 |  |  |  | 682.7 |
TEPPCO Junior Subordinated Notes, fixed/variable-rate, due June 2067 |  |  | 14.2 |  |  |  | 14.2 |
Total principal amount of senior and junior debt obligations |  |  | 17,532.7 |  |  |  | 16,179.3 |
Other, non-principal amounts: |  |  |  |  |  |  |  |
Change in fair value of debt hedged in fair value hedging relationship (2) |  |  | 28.9 |  |  |  | 39.3 |
Unamortized discounts, net of premiums |  |  | (41.9 | ) |  |  | (38.0 | )
Other |  |  | 11.8 |  |  |  | 21.2 |
Total other, non-principal amounts |  |  | (1.2 | ) |  |  | 22.5 |
Less current maturities of debt (3) |  |  | (1,049.9 | ) |  |  | (1,546.6 | )
Total long-term debt |  | $ | 16,481.6 |  |  | $ | 14,655.2 |
(1) Principal amounts outstanding at September 30, 2013 have fixed-rates ranging from 0.26% and 0.29% and are due in October 2013. (2) See Note 4 for information regarding our interest rate hedging activities. (3) We expect to refinance the current maturities of our debt obligations at or prior to their maturity. |
Enterprise Products Partners L.P. acts as guarantor of the consolidated debt obligations of EPO with the exception of the remaining debt obligations of TEPPCO. If EPO were to default on any of its guaranteed debt, Enterprise Products Partners L.P. would be responsible for full and unconditional repayment of that obligation. The following table presents contractually scheduled maturities of our consolidated debt obligations at September 30, 2013 for the periods indicated:
|  |  |  |  | Scheduled Maturities of Debt |
|  | Total |  |  | Remainder of 2013 |  |  | 2014 |  |  | 2015 |  |  | 2016 |  |  | 2017 |  |  | After 2017 |
Commercial Paper Notes |  | $ | 550.0 |  |  | $ | 550.0 |  |  | $ | -- |  |  | $ | -- |  |  | $ | -- |  |  | $ | -- |  |  | $ | -- |
Multi-Year Revolving Credit Facility |  |  | 100.0 |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | 100.0 |
Senior Notes |  |  | 15,350.0 |  |  |  | -- |  |  |  | 1,150.0 |  |  |  | 1,300.0 |  |  |  | 750.0 |  |  |  | 800.0 |  |  |  | 11,350.0 |
Junior Subordinated Notes |  |  | 1,532.7 |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | 1,532.7 |
Total |  | $ | 17,532.7 |  |  | $ | 550.0 |  |  | $ | 1,150.0 |  |  | $ | 1,300.0 |  |  | $ | 750.0 |  |  | $ | 800.0 |  |  | $ | 12,982.7 |
Apart from those items discussed below and routine fluctuations in the balance of our multi-year revolving credit facility and commercial paper notes, there have been no significant changes in the terms or amounts of our consolidated debt obligations since those reported in our 2012 Form 10-K. 364-Day Credit Agreement In June 2013, EPO entered into a 364-Day Revolving Credit Agreement with a group of lenders (the "364-Day Credit Agreement"). Under the terms of the 364-Day Credit Agreement, EPO may borrow up to $1.0 billion at a variable interest rate for a term of 364 days, subject to the terms and conditions set forth therein. EPO's obligations under the 364-Day Credit Agreement are not secured by any collateral; however, they are guaranteed by Enterprise Products Partners L.P. Amounts borrowed under the 364-Day Credit Agreement mature on June 18, 2014, although EPO may, between 15 and 60 days prior to the maturity date, elect to have the entire principal balance then outstanding continued as non-revolving term loans for a period of one additional year, payable on June 18, 2015. The 364-Day Credit Agreement contains customary representations, warranties, covenants (affirmative and negative) and events of default, the occurrence of which would permit the lenders to accelerate the maturity date of amounts borrowed under the 364-Day Credit Agreement. The 364-Day Credit Agreement also restricts EPO's ability to pay cash distributions to its parent, Enterprise Products Partners L.P., if a default or an event of default (as defined in the 364-Day Credit Agreement) has occurred and is continuing at the time such distribution is scheduled to be paid. First Amendment to $3.5 Billion Multi-Year Revolving Credit Facility In June 2013, EPO amended the terms of its $3.5 Billion Multi-Year Revolving Credit Facility to, among other things, extend the maturity date of commitments under the agreement from September 2016 to June 2018 and lower the applicable margin on borrowings. Issuance of Senior Notes in March 2013 In March 2013, EPO issued $1.25 billion principal amount of 3.35% senior notes due March 2023 ("Senior Notes HH") and $1.0 billion principal amount of 4.85% senior notes due March 2044 ("Senior Notes II"). Senior Notes HH were issued at 99.908% of their principal amount and Senior Notes II were issued at 99.619% of their principal amount. Net proceeds from the issuance of Senior Notes HH and II were used to repay debt, including (i) amounts outstanding under EPO's $3.5 Billion Multi-Year Revolving Credit Facility and EPO's commercial paper program (which we used to repay $550.0 million principal amount of senior notes that matured in February 2013) and (ii) $650.0 million principal amount of senior notes that matured in April 2013, and for general company purposes. Enterprise Products Partners L.P. has unconditionally guaranteed Senior Notes HH and II on an unsecured and unsubordinated basis. These senior notes rank equal with EPO's existing and future unsecured and unsubordinated indebtedness and are senior to any existing and future subordinated indebtedness of EPO. These senior notes are subject to make-whole redemption rights and were issued under indentures containing certain covenants, which generally restrict EPO's ability (with certain exceptions) to incur debt secured by liens and engage in sale and leaseback transactions. Letters of Credit At September 30, 2013, EPO had $2.5 million of letters of credit outstanding related to operations at our facilities and motor fuel tax obligations. Lender Financial Covenants We were in compliance with the financial covenants of our consolidated debt agreements at September 30, 2013. Information Regarding Variable Interest Rates Paid The following table presents the range of interest rates and weighted-average interest rates paid on our consolidated variable-rate debt during the nine months ended September 30, 2013:
| Range of Interest Rates Paid | Weighted-Average Interest Rate Paid
EPO $3.5 Billion Multi-Year Revolving Credit Facility | 1.15% to 1.51% | 1.31%

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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