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Debt (Tables) | 6 Months Ended
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Jun. 30, 2020
Debt Disclosure [Abstract] |
Summary of credit facilities | We had outstanding borrowings, letters of credit issued, and availability under our credit facilities as follows (amounts in millions and currency in U.S. dollars, except as noted):
|  |  |  |  |  | June 30, 2020
|  | Facility Amount |  | Maturity Date |  | Outstanding Borrowings |  | Letters of Credit Issued (a) |  | Availability
Committed facilities: |  |  |  |  |  |  |  |  |  |
Valero Revolver |  | $ | 4,000 |  |  | March 2024 |  | $ | — |  |  | $ | 33 |  |  | $ | 3,967 |
364-day Revolving Credit Facility |  | $ | 875 |  |  | April 2021 |  | $ | — |  |  | n/a |  |  | $ | 875 |
Canadian Revolver |  | C$ | 150 |  |  | November 2020 |  | C$ | — |  |  | C$ | 7 |  |  | C$ | 143 |
Accounts receivable sales facility (b) |  | $ | 1,300 |  |  | July 2020 |  | $ | — |  |  | n/a |  |  | $ | 726 |
Letter of credit facility |  | $ | 50 |  |  | November 2020 |  | n/a |  |  | $ | — |  |  | $ | 50 |
Committed facilities of VIE (c): |  |  |  |  |  |  |  |  |  |
IEnova Revolver |  | $ | 612 |  |  | February 2028 |  | $ | 511 |  |  | n/a |  |  | $ | 101 |
Uncommitted facilities: |  |  |  |  |  |  |  |  |  |
Letter of credit facilities |  | n/a |  |  | n/a |  | n/a |  |  | $ | 92 |  |  | n/a |
___________________
(a) | Letters of credit issued as of June 30, 2020 expire at various times in 2020 through 2021.
(b) | The available borrowing capacity was lower than the facility amount due to a decline in product prices. In July 2020, we extended the maturity date of this facility to July 2021 and decreased the facility amount from $1.3 billion to $1.0 billion.
(c) Creditors of our VIE do not have recourse against us.
Interest and debt expense, net of capitalized interest | “Interest and debt expense, net of capitalized interest” is comprised as follows (in millions):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Interest and debt expense | $ | 161 |  |  | $ | 136 |  |  | $ | 306 |  |  | $ | 272 |
Less: Capitalized interest | 19 |  |  | 24 |  |  | 39 |  |  | 48 |
Interest and debt expense, net of capitalized interest | $ | 142 |  |  | $ | 112 |  |  | $ | 267 |  |  | $ | 224 |

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 + Details
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