v3.19.3
Long-Term Debt (Tables)
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9 Months Ended |
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Debt Disclosure [Abstract] |
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Schedule of Long-Term Debt |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | September 30, 2019 | | | | | | December 31, 2018 | | | | | | Outstanding Principal | | Premium (Discount) | | Long-Term Debt | | Outstanding Principal | | Premium (Discount) | | Long-Term Debt | Related party debt | $ | 1,513.5 | | | $ | — | | | $ | 1,513.5 | | | $ | — | | | $ | — | | | $ | — | | Term Loan due 2021 (1) | — | | | — | | | — | | | 850.0 | | | — | | | 850.0 | | 2.70% Senior unsecured notes due 2019 (2) | — | | | — | | | — | | | 400.0 | | | — | | | 400.0 | | 4.40% Senior unsecured notes due 2024 | 550.0 | | | 1.6 | | | 551.6 | | | 550.0 | | | 1.8 | | | 551.8 | | 4.15% Senior unsecured notes due 2025 | 750.0 | | | (0.7) | | | 749.3 | | | 750.0 | | | (0.9) | | | 749.1 | | 4.85% Senior unsecured notes due 2026 | 500.0 | | | (0.5) | | | 499.5 | | | 500.0 | | | (0.5) | | | 499.5 | | 5.60% Senior unsecured notes due 2044 | 350.0 | | | (0.2) | | | 349.8 | | | 350.0 | | | (0.2) | | | 349.8 | | 5.05% Senior unsecured notes due 2045 | 450.0 | | | (6.0) | | | 444.0 | | | 450.0 | | | (6.2) | | | 443.8 | | 5.45% Senior unsecured notes due 2047 | 500.0 | | | (0.1) | | | 499.9 | | | 500.0 | | | (0.1) | | | 499.9 | | Debt classified as long-term, including current maturities of long-term debt | $ | 4,613.5 | | | $ | (5.9) | | | 4,607.6 | | | $ | 4,350.0 | | | $ | (6.1) | | | 4,343.9 | | Debt issuance cost (3) | | | | | (30.8) | | | | | | | (24.3) | | Less: Current maturities of long-term debt (2) | | | | | — | | | | | | | (399.8) | | Long-term debt, net of unamortized issuance cost | | | | | $ | 4,576.8 | | | | | | | $ | 3,919.8 | |
____________________________ (1)In December 2018, ENLK entered into an $850.0 million, three-year unsecured Term Loan. Borrowings under the Term Loan bear interest based on Prime and/or LIBOR plus an applicable margin. The effective interest rate was 3.9% at December 31, 2018. In connection with the closing of the Merger, the Term Loan was assumed by ENLC, and we became a guarantor of the Term Loan. (2)The 2.70% senior unsecured notes matured on April 1, 2019. Therefore, the outstanding principal balance, net of discount and debt issuance costs, is classified as “Current maturities of long-term debt” on the consolidated balance sheet as of December 31, 2018. (3)Net of amortization of $9.8 million and $15.3 million at September 30, 2019 and December 31, 2018, respectively.
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- DefinitionTabular 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.
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