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Debt and Interest Expense (Tables)
 12 Months Ended
Dec. 31, 2017
Debt Instruments [Abstract]  
Debt Outstanding and Debt Activity Tables
The following table presents WES and WGP’s outstanding debt as of December 31, 2017 and 2016:
 
 
December 31, 2017
 
December 31, 2016
thousands
 
Principal
 
Carrying
Value
 
Fair
Value (1)
 
Principal
 
Carrying
Value
 
Fair
Value (1)
WGP RCF
 
$
28,000

 
$
28,000

 
$
28,000

 
$
28,000

 
$
28,000

 
$
28,000

2021 Notes
 
500,000

 
495,815

 
530,647

 
500,000

 
494,734

 
536,252

2022 Notes
 
670,000

 
668,849

 
684,043

 
670,000

 
668,634

 
681,723

2018 Notes
 
350,000

 
349,684

 
350,631

 
350,000

 
349,188

 
351,531

2044 Notes
 
600,000

 
593,234

 
637,827

 
600,000

 
593,132

 
615,753

2025 Notes
 
500,000

 
491,885

 
500,885

 
500,000

 
490,971

 
492,499

2026 Notes
 
500,000

 
495,245

 
520,144

 
500,000

 
494,802

 
518,441

WES RCF
 
370,000

 
370,000

 
370,000

 
—

 
—

 
—

Total long-term debt
 
$
3,518,000

 
$
3,492,712

 
$
3,622,177

 
$
3,148,000

 
$
3,119,461

 
$
3,224,199

                                                                                                                                                                                    
(1) 
Fair value is measured using the market approach and Level 2 inputs.

12.  DEBT AND INTEREST EXPENSE (CONTINUED)

Debt activity. The following table presents WES and WGP’s debt activity for the years ended December 31, 2017 and 2016:
thousands
 
Carrying Value
Balance at December 31, 2015
 
$
2,690,651

WES RCF borrowings
 
600,000

Issuance of 2026 Notes
 
500,000

Issuance of 2044 Notes
 
200,000

Repayments of WES RCF borrowings
 
(900,000
)
WGP RCF borrowings
 
28,000

Other
 
810

Balance at December 31, 2016
 
$
3,119,461

WES RCF borrowings
 
370,000

Other
 
3,251

Balance at December 31, 2017
 
$
3,492,712
Interest Expense Table
The following table summarizes the amounts included in interest expense:
 
 
Year Ended December 31,
thousands
 
2017
 
2016
 
2015
Third parties
 
 
 
 
 
 
Long-term debt
 
$
(143,400
)
 
$
(122,428
)
 
$
(102,058
)
Amortization of debt issuance costs and commitment fees
 
(7,970
)
 
(7,509
)
 
(5,734
)
Capitalized interest
 
6,826

 
5,562

 
8,318

Total interest expense – third parties
 
(144,544
)
 
(124,375
)
 
(99,474
)
Affiliates
 
 
 
 
 
 
WGP WCF
 
—

 
—

 
(2
)
Deferred purchase price obligation – Anadarko (1)
 
(71
)
 
7,747

 
(14,398
)
Total interest expense – affiliates
 
(71
)
 
7,747

 
(14,400
)
Interest expense
 
$
(144,615
)
 
$
(116,628
)
 
$
(113,874
)
(1) 
See Note 2 for a discussion of the Deferred purchase price obligation - Anadarko.