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Debt Obligations | 3 Months Ended
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Mar. 31, 2019
Debt Obligations [Abstract] |
Debt Obligations | Note 7. Debt Obligations The following table presents our consolidated debt obligations (arranged by company and maturity date) at the dates indicated:
|  | March 31, 2019 |  |  | December 31, 2018 |
EPO senior debt obligations: |  |  |  |  |  |
Commercial Paper Notes, variable-rates |  | $ | 1,395.0 |  |  | $ | -- |
Senior Notes N, 6.50% fixed-rate, due January 2019 |  |  | -- |  |  |  | 700.0 |
364-Day Revolving Credit Agreement, variable-rate, due September 2019 |  |  | -- |  |  |  | -- |
Senior Notes LL, 2.55% fixed-rate, due October 2019 |  |  | 800.0 |  |  |  | 800.0 |
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 TT, 2.80% fixed-rate, due February 2021 |  |  | 750.0 |  |  |  | 750.0 |
Senior Notes RR, 2.85% fixed-rate, due April 2021 |  |  | 575.0 |  |  |  | 575.0 |
Senior Notes VV, 3.50% fixed-rate, due February 2022 |  |  | 750.0 |  |  |  | 750.0 |
Senior Notes CC, 4.05% fixed-rate, due February 2022 |  |  | 650.0 |  |  |  | 650.0 |
Multi-Year Revolving Credit Facility, variable-rate, due September 2022 |  |  | -- |  |  |  | -- |
Senior Notes HH, 3.35% fixed-rate, due March 2023 |  |  | 1,250.0 |  |  |  | 1,250.0 |
Senior Notes JJ, 3.90% fixed-rate, due February 2024 |  |  | 850.0 |  |  |  | 850.0 |
Senior Notes MM, 3.75% fixed-rate, due February 2025 |  |  | 1,150.0 |  |  |  | 1,150.0 |
Senior Notes PP, 3.70% fixed-rate, due February 2026 |  |  | 875.0 |  |  |  | 875.0 |
Senior Notes SS, 3.95% fixed-rate, due February 2027 |  |  | 575.0 |  |  |  | 575.0 |
Senior Notes WW, 4.15% fixed-rate, due October 2028 |  |  | 1,000.0 |  |  |  | 1,000.0 |
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 |  |  | 1,400.0 |  |  |  | 1,400.0 |
Senior Notes KK, 5.10% fixed-rate, due February 2045 |  |  | 1,150.0 |  |  |  | 1,150.0 |
Senior Notes QQ, 4.90% fixed-rate, due May 2046 |  |  | 975.0 |  |  |  | 975.0 |
Senior Notes UU, 4.25% fixed-rate, due February 2048 |  |  | 1,250.0 |  |  |  | 1,250.0 |
Senior Notes XX, 4.80% fixed-rate, due February 2049 |  |  | 1,250.0 |  |  |  | 1,250.0 |
Senior Notes NN, 4.95% fixed-rate, due October 2054 |  |  | 400.0 |  |  |  | 400.0 |
TEPPCO senior debt obligations: |  |  |  |  |  |  |  |
TEPPCO Senior Notes, 7.55% fixed-rate, due April 2038 |  |  | 0.4 |  |  |  | 0.4 |
Total principal amount of senior debt obligations |  |  | 24,445.0 |  |  |  | 23,750.0 |
EPO Junior Subordinated Notes C, variable-rate, due June 2067 (1) |  |  | 256.4 |  |  |  | 256.4 |
EPO Junior Subordinated Notes D, fixed/variable-rate, due August 2077 (2) |  |  | 700.0 |  |  |  | 700.0 |
EPO Junior Subordinated Notes E, fixed/variable-rate, due August 2077 (3) |  |  | 1,000.0 |  |  |  | 1,000.0 |
EPO Junior Subordinated Notes F, fixed/variable-rate, due February 2078 (4) |  |  | 700.0 |  |  |  | 700.0 |
TEPPCO Junior Subordinated Notes, variable-rate, due June 2067 (1) |  |  | 14.2 |  |  |  | 14.2 |
Total principal amount of senior and junior debt obligations |  |  | 27,115.6 |  |  |  | 26,420.6 |
Other, non-principal amounts |  |  | (239.4 | ) |  |  | (242.4 | )
Less current maturities of debt |  |  | (2,694.6 | ) |  |  | (1,500.1 | )
Total long-term debt |  | $ | 24,181.6 |  |  | $ | 24,678.1 |
(1)Variable rate is reset quarterly and based on 3-month LIBOR plus 2.778%. (2)Fixed rate of 4.875% through August 15, 2022; thereafter, a variable rate reset quarterly and based on 3-month LIBOR plus 2.986%. (3)Fixed rate of 5.250% through August 15, 2027; thereafter, a variable rate reset quarterly and based on 3-month LIBOR plus 3.033%. (4)Fixed rate of 5.375% through February 14, 2028; thereafter, a variable rate reset quarterly and based on 3-month LIBOR plus 2.57%. |
References to “TEPPCO” mean TEPPCO Partners, L.P. prior to its merger with one of our wholly owned subsidiaries in October 2009. The following table presents the range of interest rates and weighted-average interest rates paid on our consolidated variable-rate debt during the three months ended March 31, 2019:
| Range of Interest Rates Paid | Weighted-Average Interest Rate Paid
Commercial Paper Notes | 2.65% to 2.80% | 2.75%
EPO Junior Subordinated Notes C and TEPPCO Junior Subordinated Notes | 5.40% to 5.52% | 5.48%
The following table presents contractually scheduled maturities of our consolidated debt obligations outstanding at March 31, 2019 for the next five years, and in total thereafter:
|  |  |  |  | Scheduled Maturities of Debt |
|  | Total |  |  | Remainder of 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2023 |  |  | Thereafter |
Commercial Paper Notes |  | $ | 1,395.0 |  |  | $ | 1,395.0 |  |  | $ | -- |  |  | $ | -- |  |  | $ | -- |  |  | $ | -- |  |  | $ | -- |
Senior Notes |  |  | 23,050.0 |  |  |  | 800.0 |  |  |  | 1,500.0 |  |  |  | 1,325.0 |  |  |  | 1,400.0 |  |  |  | 1,250.0 |  |  |  | 16,775.0 |
Junior Subordinated Notes |  |  | 2,670.6 |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | -- |  |  |  | 2,670.6 |
Total |  | $ | 27,115.6 |  |  | $ | 2,195.0 |  |  | $ | 1,500.0 |  |  | $ | 1,325.0 |  |  | $ | 1,400.0 |  |  | $ | 1,250.0 |  |  | $ | 19,445.6 |
We issued $1.4 billion of short-term notes under EPO’s commercial paper program, partially offset by the repayment of $700 million principal amount of Senior Notes N during the first quarter of 2019. Parent-Subsidiary Guarantor Relationships 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. Lender Financial Covenants We were in compliance with the financial covenants of our consolidated debt agreements at March 31, 2019. Letters of Credit At March 31, 2019, EPO had $101.4 million of letters of credit outstanding primarily related to our commodity hedging activities.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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