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Subsequent Event | 12 Months Ended
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Dec. 31, 2019
Subsequent Event [Abstract] |
Subsequent Event | Note 22. Subsequent Event Issuance of $3.0 Billion of Senior Notes in January 2020 In January 2020, EPO issued $3.0 billion aggregate principal amount of senior notes comprised of (i) $1.0 billion principal amount of senior notes due January 2030 (“Senior Notes AAA”), (ii) $1.0 billion principal amount of senior notes due January 2051 (“Senior Notes BBB”) and (iii) $1.0 billion principal amount of senior notes due January 2060 (“Senior Notes CCC”). Net proceeds from this offering were used by EPO for the repayment of $500 million principal amount of its Senior Notes Q that matured in January 2020, temporary repayment of amounts outstanding under its commercial paper program and for general company purposes. In addition, net proceeds from this offering will be used by EPO for the repayment of $1.0 billion principal amount of its Senior Notes Y upon their maturity in September 2020. Senior Notes AAA were issued at 99.921% of their principal amount and have a fixed-rate interest rate of 2.80% per year. Senior Notes BBB were issued at 99.413% of their principal amount and have a fixed-rate interest rate of 3.70% per year. Senior Notes CCC were issued at 99.360% of their principal amount and have a fixed-rate interest rate of 3.95% per year. EPD guaranteed these senior notes through an unconditional guarantee on an unsecured and unsubordinated basis. In January 2020, we terminated an aggregate $575 million notional amount of forward-starting swaps (cash flow hedges), which resulted in cash payments of $33.3 million. The termination of these swaps was done in connection with EPO’s issuance of $3.0 billion aggregate principal amount of senior notes in January 2020. Exercise of Liquidity Option in February 2020 On February 25, 2020, the Partnership received notice from M&B of M&B’s election to exercise its Liquidity Option right. Settlement of the option exercise transaction is expected to occur on March 5, 2020. For additional information regarding the Liquidity Option and the effects of the option exercise, see Note 17.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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