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DEBT DEBT (Notes)
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Debt [Text Block] DEBT
The following table sets forth our consolidated debt for the periods indicated:
March 31,
2022		December 31,
2021
 
(Thousands of dollars)
Commercial paper outstanding, bearing a weighted-average interest rate of 0.94% as of March 31, 2022
$78,000 $— 
Senior unsecured obligations:
$900,000 at 3.375% due October 2022
895,814 895,814 
$425,000 at 5.0% due September 2023
425,000 425,000 
$500,000 at 7.5% due September 2023
500,000 500,000 
$500,000 at 2.75% due September 2024
500,000 500,000 
$500,000 at 4.9% due March 2025
500,000 500,000 
$400,000 at 2.2% due September 2025
387,000 387,000 
$600,000 at 5.85% due January 2026
600,000 600,000 
$500,000 at 4.0% due July 2027
500,000 500,000 
$800,000 at 4.55% due July 2028
800,000 800,000 
$100,000 at 6.875% due September 2028
100,000 100,000 
$700,000 at 4.35% due March 2029
700,000 700,000 
$750,000 at 3.4% due September 2029
714,251 714,251 
$850,000 at 3.1% due March 2030
780,093 780,093 
$600,000 at 6.35% due January 2031
600,000 600,000 
$400,000 at 6.0% due June 2035
400,000 400,000 
$600,000 at 6.65% due October 2036
600,000 600,000 
$600,000 at 6.85% due October 2037
600,000 600,000 
$650,000 at 6.125% due February 2041
650,000 650,000 
$400,000 at 6.2% due September 2043
400,000 400,000 
$700,000 at 4.95% due July 2047
689,006 689,006 
$1,000,000 at 5.2% due July 2048
1,000,000 1,000,000 
$750,000 at 4.45% due September 2049
672,530 672,530 
$500,000 at 4.5% due March 2050
443,015 443,015 
$300,000 at 7.15% due January 2051
300,000 300,000 
Total debt13,834,709 13,756,709 
Unamortized portion of terminated swaps11,166 11,596 
Unamortized debt issuance costs and discounts(121,576)(124,855)
Current maturities of long-term debt (895,814)(895,814)
Short-term borrowings (a) (78,000)— 
Long-term debt$12,750,485 $12,747,636 
(a) - Individual issuances of commercial paper under our commercial paper program generally mature in 90 days or less.

$2.5 Billion Credit Agreement - Our $2.5 Billion Credit Agreement, which expires in June 2024, is a revolving credit facility and contains certain financial, operational and legal covenants. Among other things, these covenants include maintaining a ratio of indebtedness to adjusted EBITDA (EBITDA, as defined in our $2.5 Billion Credit Agreement, adjusted for all noncash charges and increased for projected EBITDA from certain lender-approved capital expansion projects). In the first quarter 2022, we acquired assets for $30 million, which allowed us to elect an acquisition adjustment period under our $2.5 Billion Credit Agreement and, as a result, increased our leverage ratio covenant to 5.5 to 1 for the first quarter 2022 and the two following quarters. Thereafter, the covenant will decrease to 5.0 to 1. At March 31, 2022, we had no outstanding borrowings, our ratio of indebtedness to adjusted EBITDA was 4.0 to 1, and we were in compliance with all covenants under our $2.5 Billion Credit Agreement.
Debt Guarantees - ONEOK, ONEOK Partners and the Intermediate Partnership have cross guarantees in place for ONEOK’s and ONEOK Partners’ indebtedness.