Debt Obligations (Tables)

3 Months Ended

Mar. 31, 2015

Debt Obligations [Abstract]

Schedule of Outstanding Debt

	March 31, 2015			December 31, 2014
Current:
Partnership
Accounts receivable securitization facility, due December 2015 (1)	$	197.9		$	182.8
Long-term:
Non-Partnership obligations:
TRC Senior secured revolving credit facility, variable rate, due February 2020 (2)		460.0			-
TRC Senior secured term loan, variable rate, due February 2022		242.0			-
Unamortized discount		(4.2	)		-
TRC Senior secured revolving credit facility, variable rate, due October 2017		-			102.0
Obligations of the Partnership: (1)
Senior secured revolving credit facility, variable rate, due October 2017 (3)		840.0			-
Senior unsecured notes, 5% fixed rate, due January 2018		1,100.0			-
Senior unsecured notes, 6⅞% fixed rate, due February 2021		483.6			483.6
Unamortized discount		(24.5	)		(25.2	)
Senior unsecured notes, 6⅜% fixed rate, due August 2022		300.0			300.0
Senior unsecured notes, 5¼% fixed rate, due May 2023		600.0			600.0
Senior unsecured notes, 4¼% fixed rate, due November 2023		625.0			625.0
Senior unsecured notes, 4⅛% fixed rate, due November 2019		800.0			800.0
Senior unsecured notes, 6⅝% fixed rate, due October 2020 (4)		355.1			-
Unamortized premium		6.0			-
Senior unsecured notes, 4¾% fixed rate, due November 2021 (4)		6.5			-
Senior unsecured notes, 5⅞% fixed rate, due August 2023 (4)		48.1			-
Unamortized premium		0.6			-
Total long-term debt		5,838.2			2,885.4
Total debt	$	6,036.1		$	3,068.2
Irrevocable standby letters of credit:
Letters of credit outstanding under TRC Senior secured credit facility (2)	$	-		$	-
Letters of credit outstanding under the Partnership senior secured revolving credit facility (3)		25.0			44.1
	$	25.0		$	44.1

(1) While we consolidate the debt of the Partnership in our financial statements, we do not have the obligation to make interest payments or debt payments with respect to the debt of the Partnership.

(2) As of March 31, 2015, availability under TRC’s $670 million senior secured revolving credit facility was $210.0 million.

(3) As of March 31, 2015, availability under the Partnership’s $1.6 billion senior secured revolving credit facility (“TRP Revolver”) was $735.0 million.

(4) Senior unsecured notes issued by APL entities and acquired in the Atlas mergers.

Interest Rates Incurred on Variable-Rate Debt Obligations

The following table shows the range of interest rates and weighted average interest rate incurred on variable-rate debt obligations during the three months ended March 31, 2015:

	Range of Interest Rates Incurred			Weighted Average Interest Rate Incurred
TRC senior secured revolving credit facility		2.9	%		2.9	%
TRC senior secured term loan		5.75	%		5.75	%
Partnership's senior secured revolving credit facility		1.9	%		1.9	%
Partnership's accounts receivable securitization facility		0.9	%		0.9	%

Summary of Results of Tender Offers

The results of the APL Notes Tender Offers were:

Senior Notes	Outstanding Note Balance		Amount Tendered		Premium Paid		Accrued Interest Paid		Total Tender Offer payments		% Tendered			Note Balance after Tender Offers
	($ amounts in millions)
6⅝% due 2020	$	500.0	$	140.1	$	2.1	$	3.7	$	145.9		28.02	%	$	359.9
4¾% due 2021		400.0		393.5		5.9		5.3		404.7		98.38	%		6.5
5⅞% due 2023		650.0		601.9		8.7		2.6		613.2		92.60	%		48.1
Total	$	1,550.0	$	1,135.5	$	16.7	$	11.6	$	1,163.8				$	414.5