The following table provides detail on the principal amount of our outstanding debt balances as of March 31, 2014 and December 31, 2013. The table amounts exclude all debt fair value adjustments, including debt discounts and premiums (in millions).



	March 31, 2014			December 31, 2013
KMI
Senior term loan facility, variable rate, due May 24, 2015	$	1,528		$	1,528
Senior notes and debentures, 5.00% through 7.45%, due 2015 through 2098	1,815			1,815
Credit facility due December 31, 2014(a)	410			175
Subsidiary borrowings (as obligor)
Kinder Morgan Finance Company, LLC, senior notes, 5.70% through 6.40%, due 2016 through 2036	1,636			1,636
El Paso, senior notes, 6.50% through 8.25%, due 2014 through 2037	3,830			3,830
EPC Building, LLC, promissory note, 3.967%, due 2014 through 2035	459			461
EP preferred securities, 4.75%, due March 31, 2028	280			280
Other miscellaneous subsidiary debt	138			221
Total debt — KMI	10,096			9,946
Less: Current portion of debt — KMI	(1,128		)	(725		)
Total long-term debt outstanding — KMI	8,968			9,221
KMGP, $1,000 Liquidation Value Series A Fixed-to-Floating Rate Term Cumulative Preferred Stock	100			100
Total long-term debt — KMI(b)	$	9,068		$	9,321

KMP and EPB
KMP
Senior notes, 2.65% through 9.00%, due 2014 through 2044	$	17,100		$	15,600
Commercial paper borrowings(c)	419			979
Credit facility due May 1, 2018	—			—
KMP subsidiary borrowings (as obligor)
TGP senior notes, 7.00% through 8.375%, due 2016 through 2037	1,790			1,790
EPNG senior notes, 5.95% through 8.625%, due 2017 through 2032	1,115			1,115
Copano senior notes, 7.125%, due April 1, 2021	332			332
Other miscellaneous subsidiary debt	97			98
Total debt — KMP	20,853			19,914
Less: Current portion of debt — KMP(d)	(1,243		)	(1,504		)
Total long-term debt — KMP(b)	19,610			18,410
EPB
EPPOC
Senior notes, 4.10% through 7.50%, due 2015 through 2042	2,260			2,260
Credit facility due May 27, 2016(e)	—			—
EPB subsidiary borrowings (as obligor)
Colorado Interstate Gas Company, L.L.C. (CIG), senior notes, 5.95% through 6.85%, due 2015 through 2037	475			475
SLNG senior notes, 9.50% through 9.75%, due 2014 through 2016	64			135
SNG notes, 4.40% through 8.00%, due 2017 through 2032	1,211			1,211
Other financing obligations	183			175
Total debt — EPB	4,193			4,256
Less: Current portion of debt — EPB	(41		)	(77		)
Total long-term debt — EPB(b)	4,152			4,179
Total long-term debt outstanding — KMP and EPB	$	23,762		$	22,589

_______


(a)	As of March 31, 2014 and December 31, 2013, the weighted average interest rates on KMI’s credit facility borrowings were 2.66% and 2.67%, respectively.

(b)

Excludes debt fair value adjustments. As of March 31, 2014 and December 31, 2013, our “Debt fair value adjustments” increased our combined debt balances by $1,969 million and $1,977 million, respectively. In addition to all unamortized debt discount/premium amounts and purchase accounting on our debt balances, our debt fair value adjustments also include (i) amounts associated with the offsetting entry for hedged debt; and (ii) any unamortized portion of proceeds received from the early termination of interest rate swap agreements. For further information about our debt fair value adjustments, see Note 5 “Risk Management—Debt Fair Value Adjustments.”

(c)

As of March 31, 2014 and December 31, 2013, the average interest rates on KMP’s outstanding commercial paper borrowings were 0.26% and 0.28%, respectively. The borrowings under KMP’s commercial paper program were used principally to finance the acquisitions and capital expansions made during the first three months of 2014, and in the near term, KMP expects that its short-term liquidity and financing needs will be met primarily through borrowings made under its commercial paper program.


(d)	Amounts include outstanding commercial paper borrowings discussed above in footnote (c).


(e)	LIBOR plus 1.75%.