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Debt Obligations | 3 Months Ended
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Mar. 31, 2021
Debt Obligations [Abstract] |
Debt Obligations | DEBT OBLIGATIONS As discussed in Note 1 above, in connection with the Rollup Mergers on April 1, 2021, ET entered into various supplemental indentures and assumed all the obligations of ETO under the respective indentures and credit agreements. During the first quarter of 2021, ETO redeemed its $600 million of 4.40% senior notes due April 1, 2021 and its $800 million of 4.65% senior notes due June 1, 2021, using proceeds from the Five-Year Credit Facility. Credit Facilities and Commercial Paper Term Loan As a result of the Rollup Mergers, on April 1, 2021, ET assumed all of ETO’s obligations in respect of its term loan credit agreement (the “Term Loan”) and Sunoco Logistics Operations was released as a guarantor in respect of the Term Loan. The Partnership’s Term Loan provides for a $2.00 billion three-year term loan credit facility. Borrowings under the Term Loan mature on October 17, 2022 and are available for working capital purposes and for general partnership purposes. As of March 31, 2021, the Term Loan had $2.00 billion outstanding and was fully drawn. The weighted average interest rate on the total amount outstanding as of March 31, 2021 was 1.11%. Five-Year Credit Facility As a result of the Rollup Mergers, on April 1, 2021, ET assumed all of ETO’s obligations in respect of its revolving credit facility (the “Five-Year Credit Facility”) and Sunoco Logistics Operations was released as a guarantor in respect of the Five-Year Credit Facility. The Partnership’s Five-Year Credit Facility allows for unsecured borrowings up to $5.00 billion and matures on December 1, 2023. The Five-Year Credit Facility contains an accordion feature, under which the total aggregate commitment may be increased up to $6.00 billion under certain conditions. As of March 31, 2021, the Five-Year Credit Facility had $800 million of outstanding borrowings, all of which consisted of commercial paper. The amount available for future borrowings was $4.08 billion, after accounting for outstanding letters of credit in the amount of $121 million. The weighted average interest rate on the total amount outstanding as of March 31, 2021 was 0.45%. 364-Day Facility As a result of the Rollup Mergers, on April 1, 2021, ET assumed all of ETO’s obligations in respect of its 364-day revolving credit facility (the “364-Day Facility”) and Sunoco Logistics Operations was released as a guarantor in respect of the 364-Day Facility. The Partnership’s 364-Day Facility allows for unsecured borrowings up to $1.00 billion and matures on November 26, 2021. As of March 31, 2021, the 364-Day Facility had no outstanding borrowings. Sunoco LP Credit Facility Sunoco LP maintains a $1.50 billion revolving credit facility (the “Sunoco LP Credit Facility”). As of March 31, 2021, the Sunoco LP Credit Facility had $381 million of outstanding borrowings and $8 million in standby letters of credit. The amount available for future borrowings at March 31, 2021 was $1.10 billion. The weighted average interest rate on the total amount outstanding as of March 31, 2021 was 1.86%. USAC Credit Facility USAC maintains a $1.60 billion revolving credit facility (the “USAC Credit Facility”), which matures on April 2, 2023 and permits up to $400 million of future increases in borrowing capacity. As of March 31, 2021, USAC had $503 million of outstanding borrowings and no outstanding letters of credit under the USAC Credit Facility. As of March 31, 2021, USAC had $1.10 billion of availability under the USAC Credit Facility. The weighted average interest rate on the total amount outstanding as of March 31, 2021 was 3.20%. Energy Transfer Canada Credit Facilities Energy Transfer Canada is party to a credit agreement providing for a C$350 million (US$278 million at the March 31, 2021 exchange rate) senior secured term loan facility, a C$525 million (US$417 million at the March 31, 2021 exchange rate) senior secured revolving credit facility, and a C$300 million (US$239 million at the March 31, 2021 exchange rate) senior secured construction loan facility (the “KAPS Facility”). The term loan facility and the revolving credit facility mature on February 25, 2024. The KAPS Facility matures on June 13, 2024. Energy Transfer Canada may incur additional term loans and revolving commitments in an aggregate amount not to exceed C$250 million (US$199 million at the March 31, 2021 exchange rate), subject to receiving commitments for such additional term loans or revolving commitments from either new lenders or increased commitments from existing lenders. As of March 31, 2021, the Energy Transfer Canada senior secured term loan facility and senior secured revolving credit facility had $261 million and $65 million, respectively, of outstanding borrowings. As of March 31, 2021, the KAPS Facility had no outstanding borrowings. Compliance with our Covenants We and our subsidiaries were in compliance with all requirements, tests, limitations, and covenants related to our debt agreements as of March 31, 2021. For the quarter ended March 31, 2021, our leverage ratio, as calculated pursuant to the covenant related to our revolving credit facility, was 3.23x.

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- Definition Debt Obligations [Abstract] + References No definition available. + Details
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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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