XML 42 R37.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Debt (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2014
Debt |
Components of debt |
|  | December 31, |  | December 31, |
|  | 2014 |  | 2013 |
SHORT-TERM DEBT |  |  |  |  |
PAA commercial paper notes, bearing a weighted-average interest rate of 0.46% and 0.33%, respectively (1) |  | $ | 734 |  | $ | 1,109 |
PAA senior notes: |  |  |  |  |
5.25% senior notes due June 2015 |  | 150 |  | — |
3.95% senior notes due September 2015 |  | 400 |  | — |
Other |  | 3 |  | 4 |
Total short-term debt |  | 1,287 |  | 1,113 |
LONG-TERM DEBT |  |  |  |  |
PAA senior notes: |  |  |  |  |
5.25% senior notes due June 2015 |  | — |  | 150 |
3.95% senior notes due September 2015 |  | — |  | 400 |
5.88% senior notes due August 2016 |  | 175 |  | 175 |
6.13% senior notes due January 2017 |  | 400 |  | 400 |
6.50% senior notes due May 2018 |  | 600 |  | 600 |
8.75% senior notes due May 2019 |  | 350 |  | 350 |
2.60% senior notes due December 2019 |  | 500 |  | — |
5.75% senior notes due January 2020 |  | 500 |  | 500 |
5.00% senior notes due February 2021 |  | 600 |  | 600 |
3.65% senior notes due June 2022 |  | 750 |  | 750 |
2.85% senior notes due January 2023 |  | 400 |  | 400 |
3.85% senior notes due October 2023 |  | 700 |  | 700 |
3.60% senior notes due November 2024 |  | 750 |  | — |
6.70% senior notes due May 2036 |  | 250 |  | 250 |
6.65% senior notes due January 2037 |  | 600 |  | 600 |
5.15% senior notes due June 2042 |  | 500 |  | 500 |
4.30% senior notes due January 2043 |  | 350 |  | 350 |
4.70% senior notes due June 2044 |  | 700 |  | — |
4.90% senior notes due February 2045 |  | 650 |  | — |
Unamortized discounts |  | (18 | ) | (15 | )
PAA senior notes, net of unamortized discounts |  | 8,757 |  | 6,710 |
Other |  | 5 |  | 5 |
Total long-term debt |  | 8,762 |  | 6,715 |
Total debt (2) |  | $ | 10,049 |  | $ | 7,828 |
| (1) |  | At December 31, 2014 and 2013, we classified all of the borrowings under our commercial paper program as short-term as these borrowings are primarily designated as working capital borrowings, must be repaid within one year and are primarily for hedged NGL and crude oil inventory and NYMEX and ICE margin deposits.
| (2) |  | Our fixed-rate senior notes (including current maturities) had a face value of approximately $9.3 billion and $6.7 billion as of December 31, 2014 and 2013, respectively. We estimated the aggregate fair value of these notes as of December 31, 2014 and 2013 to be approximately $9.9 billion and $7.2 billion, respectively. Our fixed-rate senior notes are traded among institutions, and these trades are routinely published by a reporting service. Our determination of fair value is based on reported trading activity near year end. We estimate that the carrying value of outstanding borrowings under our credit facilities and commercial paper program approximates fair value as interest rates reflect current market rates. The fair value estimates for our senior notes, credit facilities and commercial paper program are based upon observable market data and are classified within Level 2 of the fair value hierarchy.
Issuances of senior unsecured notes |
Year |  | Description |  | Maturity |  | Face Value |  | Interest Payment Dates |
2014 |  | 2.60% Senior Notes issued at 99.813% of face value |  | December 2019 |  | $ | 500 |  | June 15 and December 15 |
2014 |  | 4.90% Senior Notes issued at 99.876% of face value |  | February 2045 |  | $ | 650 |  | February 15 and August 15 |
2014 |  | 3.60% Senior Notes issued at 99.842% of face value |  | November 2024 |  | $ | 750 |  | May 1 and November 1 |
2014 |  | 4.70% Senior Notes issued at 99.734% of face value |  | June 2044 |  | $ | 700 |  | June 15 and December 15 |
2013 |  | 3.85% Senior Notes issued at 99.792% of face value |  | October 2023 |  | $ | 700 |  | April 15 and October 15 |
2012 |  | 2.85% Senior Notes issued at 99.752% of face value |  | January 2023 |  | $ | 400 |  | January 31 and July 31 |
2012 |  | 4.30% Senior Notes issued at 99.925% of face value |  | January 2043 |  | $ | 350 |  | January 31 and July 31 |
2012 |  | 3.65% Senior Notes issued at 99.823% of face value |  | June 2022 |  | $ | 750 |  | June 1 and December 1 |
2012 |  | 5.15% Senior Notes issued at 99.755% of face value |  | June 2042 |  | $ | 500 |  | June 1 and December 1 |
Long-term debt maturities |
Calendar Year |  | Payment |
2015 |  | $ | 550 |
2016 |  | 175 |
2017 |  | 400 |
2018 |  | 600 |
2019 |  | 850 |
Thereafter |  | 6,750 |
Total (1) |  | $ | 9,325 |
| (1) |  | Excludes aggregate unamortized net discount of $18 million.

X
- Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=34725769&loc=d3e28878-108400 Reference 2: http://www.xbrl.org/2003/role/presentationRef -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=26873400&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration