Debt and Credit Facilities (Tables)

9 Months Ended

Sep. 30, 2015

The following table provides maturity dates or ranges, year-to-date weighted average interest rates and amounts outstanding for our various debt securities and facilities for the periods presented. We fully and unconditionally guarantee all debt issued by AGL Capital. For additional information on our debt and credit facilities, see Note 8 to our consolidated financial statements and related notes included in Item 8 of our 2014 Form 10-K.



		September 30, 2015								September 30, 2014
Dollars in millions	Year(s) due	Weighted average interest rate ⁽¹⁾		Outstanding			December 31, 2014			Weighted average interest rate ⁽¹⁾		Outstanding
Short-term debt
Commercial paper - AGL Capital ⁽²⁾	2015	0.5	%	$	450		$	590		0.3	%	$	292
Commercial paper - Nicor Gas ⁽²⁾	2015	0.4		436			585			0.2		389
Total short-term debt		0.4	%	$	886		$	1,175		0.3	%	$	681
Current portion of long-term debt	2016	5.9	%	$	425		$	200		5.0	%	$	200
Long-term debt - excluding current portion
Senior notes	2016-2043	4.8	%	$	2,325		$	2,625		5.0	%	$	2,625
First mortgage bonds	2019-2038	5.9		375			500			5.6		500
Gas facility revenue bonds	2022-2033	0.9		200			200			0.9		200
Medium-term notes	2017-2027	7.8		181			181			7.8		181
Total principal long-term debt		4.7	%	3,081			3,506			4.9	%	3,506
Unamortized fair value adjustment of long-term debt ⁽³⁾	n/a	n/a		71			80			n/a		83
Unamortized debt premium, net	n/a	n/a		16			16			n/a		16
Unamortized debt issuance costs	n/a	n/a		(18		)	(21		)	n/a		(21		)
Total non-principal long-term debt		n/a		69			75			n/a		78
Total long-term debt - excluding current portion				$	3,150		$	3,581				$	3,584
Total debt				$	4,461		$	4,956				$	4,465


(1)	Interest rates are calculated based on the daily weighted average balance outstanding for the nine months ended September 30.


(2)	As of September 30, 2015, the effective interest rates on our commercial paper borrowings were 0.5% for AGL Capital and 0.4% for Nicor Gas.


(3)	See Note 5 herein for additional information on our fair value measurements.

Schedule of Capitalization

The following table contains our debt-to-capitalization ratios for the dates presented, which are below the maximum allowed.



	AGL Resources						Nicor Gas
	September 30, 2015		December 31, 2014		September 30, 2014		September 30, 2015		December 31, 2014		September 30, 2014
Debt covenants ⁽¹⁾	52	%	55	%	53	%	56	%	62	%	57	%


(1)	As defined in our credit facilities, includes standby letters of credit and performance/surety bonds and excludes accumulated OCI items related to non-cash pension adjustments, welfare benefits liability adjustments and accounting for cash flow hedges.