XML 104 R42.htm IDEA: XBRL DOCUMENT v3.25.0.1
DEBT (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Consolidated Debt
The following table sets forth ONEOK and ONEOK Partners debt as of the dates indicated:
Dec. 31, 2024Dec. 31, 2023
(Millions of dollars)
Commercial paper outstanding (a)$— $— 
Senior unsecured obligations:
$500 at 2.75% due September 2024
— 484 
$500 at 4.9% due March 2025
— 500 
$250 at 3.2% due March 2025
250 250 
$400 at 2.2% due September 2025
387 387 
$600 at 5.85% due January 2026
600 600 
$650 at 5.0% due March 2026
650 650 
$750 at 5.55% due November 2026
750 750 
$500 at 4.0% due July 2027
500 500 
$1,250 at 4.25% due September 2027
1,250 — 
$800 at 4.55% due July 2028
800 800 
$100 at 6.875% due September 2028
100 100 
$750 at 5.65% due November 2028
750 750 
$700 at 4.35% due March 2029
700 700 
$750 at 3.4% due September 2029
714 714 
$600 at 4.4% due October 2029
600 — 
$850 at 3.1% due March 2030
780 780 
$500 at 3.25% due June 2030
500 500 
$500 at 5.8% due November 2030
500 500 
$600 at 6.35% due January 2031
600 600 
$1,250 at 4.75% due October 2031
1,250 — 
$750 at 6.1% due November 2032
750 750 
$1,500 at 6.05% due September 2033
1,500 1,500 
$1,600 at 5.05% due November 2034
1,600 — 
$400 at 6.0% due June 2035
400 400 
$600 at 6.65% due October 2036
600 600 
$250 at 6.4% due May 2037
250 250 
$600 at 6.85% due October 2037
600 600 
$650 at 6.125% due February 2041
650 650 
$250 at 4.2% due December 2042
250 250 
$400 at 6.2% due September 2043
400 400 
$550 at 5.15% due October 2043
550 550 
$250 at 4.2% due March 2045
250 250 
$500 at 4.25% due September 2046
500 500 
$700 at 4.95% due July 2047
564 564 
$500 at 4.2% due October 2047
500 500 
$1,000 at 5.2% due July 2048
919 919 
$500 at 4.85% due February 2049
500 500 
$750 at 4.45% due September 2049
576 576 
$500 at 4.5% due March 2050
443 443 
$800 at 3.95% due March 2050
797 797 
$300 at 7.15% due January 2051
300 300 
$1,750 at 6.625% due September 2053
1,750 1,750 
$1,500 at 5.7% due November 2054
1,500 — 
$800 at 5.85% due November 2064
800 — 
Guardian $120 term loan, rate of 6.58% as of Dec. 31, 2023 (b)
— 120 
Viking $60 term loan, rate of 6.71% as of Dec. 31, 2023 (b)
— 60 
Total ONEOK and ONEOK Partners debt
28,630 22,794 
Unamortized debt discounts(992)(1,015)
Unamortized debt issuance costs and terminated swaps(166)(112)
Current maturities of long-term debt(637)(484)
Long-term ONEOK and ONEOK Partners debt
$26,835 $21,183 
(a) - Individual issuances of commercial paper under our commercial paper program generally mature in 90 days or less.
(b) - In December 2024, we repaid the Guardian $120 million and the Viking $60 million term loan agreements, plus accrued and unpaid interest, with cash on hand, as part of the interstate natural gas pipeline divestiture.
The following table sets forth EnLink and EnLink Partners’ debt, which was acquired in the EnLink Controlling Interest Acquisition on Oct. 15, 2024:
Dec. 31, 2024
(Millions of dollars)
Senior unsecured obligations: (a)
$750 at 4.15% due June 2025
$422 
$500 at 4.85% due July 2026
491 
$500 at 5.625% due January 2028
500 
$500 at 5.375% due June 2029
499 
$1,000 at 6.5% due September 2030
1,000 
$500 at 5.65% due September 2034
500 
$350 at 5.6% due April 2044
340 
$450 at 5.05% due April 2045
413 
$500 at 5.45% due June 2047
448 
Total EnLink debt
4,613 
Unamortized debt discounts, net
(8)
Current maturities of long-term debt
(422)
Long-term EnLink debt
$4,183 
(a) - Amounts are presented at face value with discount to fair value included in unamortized debt discounts, net.
Schedule of Long-Term Debt Instruments We completed the following underwritten public offerings for the periods presented:
2024 (a)
2023 (b)
2022 (c)
Coupon
Interest
Coupon
InterestCouponInterest
(Millions of dollars)(Millions of dollars)(Millions of dollars)
3 year note
$1,250 4.25%$750 5.55%
5 year note
600 4.4%750 5.65%
7 year note
1,250 4.75%500 5.80%
10 year note
1,600 5.05%1,500 6.05%$750 6.1%
30 year note
1,500 5.7%1,750 6.625%
40 year note
800 5.85%
$7,000 $5,250 $750 
(a) - The net proceeds, after deducting underwriting discounts, commissions and offering expenses, were $6.9 billion. The net proceeds from this offering were used to fund the EnLink Controlling Interest Acquisition and the Medallion Acquisition, purchase additional interests in a Medallion joint venture owned by a separate third party, to pay fees and expenses related to the acquisitions and to repay outstanding indebtedness.
(b) - The net proceeds, after deducting underwriting discounts, commissions and offering expenses, were $5.2 billion. The net proceeds were used to fund the cash consideration and other costs related to the Magellan Acquisition.
(c) - The proceeds were used primarily to repay all outstanding amounts under our commercial paper program. The remainder was used for general corporate purposes.
Aggregate Maturities of Long-Term Debt Outstanding
The aggregate maturities of long-term debt outstanding and interest payments on total debt outstanding as of Dec. 31, 2024, for the years 2025 through 2029 are shown below:
Senior
Unsecured
Obligations		Interest
Obligations
on Debt		Total
 (Millions of dollars)
2025$1,059 $1,708 $2,767 
2026$2,491 $1,615 $4,106 
2027$1,750 $1,537 $3,287 
2028$2,150 $1,435 $3,585 
2029$2,513 $1,320 $3,833