| Component: (Network and Table) | |
|---|---|
| Network | 2308301 - Disclosure - Debt Obligations (Tables) (http://www.energytransfer.com/role/DebtObligationsTables) |
| Table | Schedule of Long-term Debt Instruments [Table] |
| Reporting Entity [Axis] | 0000076063 (http://www.sec.gov/CIK) |
| Long-term Debt, Type | Long-term Debt, Type |
| Debt Instrument [Axis] | Debt Instrument, Name [Domain] |
| Variable Rate [Axis] | Variable Rate [Domain] |
| Debt Instrument, Redemption, Period [Axis] | Debt Instrument, Redemption, Period [Domain] |
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2015-01-01 - 2015-12-31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Text Block] | DEBT OBLIGATIONS: The following table sets forth the debt obligations of the Company:
Based on the estimated borrowing rates currently available to the Company and its subsidiaries for loans with similar terms and average maturities, the aggregate fair value of the Company’s consolidated debt obligations at December 31, 2016 and 2015 was $1.14 billion and $1.20 billion, respectively. The fair value of the Company’s consolidated debt obligations is a Level 2 valuation based on the observable inputs used for similar liabilities. As of December 31, 2016, the Company has scheduled long-term debt principal payments as follows:
Assumption of Southern Union Debt In connection with the consummation of the Panhandle Merger, PEPL assumed Southern Union’s long-term debt obligations. As of December 31, 2016, the long-term debt assumed in the Panhandle Merger consisted of $82 million in aggregate principal amount of 7.60% Senior Notes due 2024, $33 million in aggregate principal amount of 8.25% Senior Notes due 2029 and $54 million in aggregate principal amount of Floating Rate Junior Subordinated Notes due 2066 outstanding. The amounts recorded in the consolidated balance sheet also reflected unamortized fair value adjustments, which were $11 million in the aggregate at December 31, 2016. Floating Rate Junior Subordinated Notes The interest rate on the remaining portion of PEPL’s $600 million junior subordinated notes due 2066 is a variable rate based upon the three-month LIBOR rate plus 3.0175%. The balance of the variable rate portion of the junior subordinated notes was $54 million at an effective interest rate of 3.903% at December 31, 2016. Compliance With Our Covenants The Company’s notes are subject to certain requirements, such as the maintenance of a fixed charge coverage ratio and a leverage ratio, which if not maintained, restrict the ability of the Company to make certain payments and impose limitations on the ability of the Company to subject its property to liens. Other covenants impose limitations on restricted payments, including dividends and loans to affiliates, and additional indebtedness. As of December 31, 2016, the Company is in compliance with these covenants. The Company will continue to opportunistically evaluate alternatives with regards to its debt repayment obligations. Alternatives include, but are not limited to, refinancing of amounts due with new senior notes, a term loan facility or a loan provided by ETP or other affiliates. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||