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Debt (Tables)
6 Months Ended
Jun. 30, 2020
Debt Disclosure [Abstract]  
Schedule of Debt
The following table presents the Partnership’s outstanding debt.
June 30, 2020December 31, 2019
Outstanding Principal
Discount (1)
Total DebtOutstanding Principal
Premium (Discount) (1)
Total Debt
(In millions)
Commercial Paper$30  $—  $30  $155  $—  $155  
Revolving Credit Facility400  —  400  —  —  —  
2019 Term Loan Agreement800  —  800  800  —  800  
2024 Notes600  —  600  600  —  600  
2027 Notes700  (2) 698  700  (2) 698  
2028 Notes800  (5) 795  800  (5) 795  
2029 Notes547  (1) 546  550  (1) 549  
2044 Notes531  —  531  550  —  550  
EOIT Senior Notes—  —  —  250  1  251  
Total debt$4,408  $(8) $4,400  $4,405  $(7) $4,398  
Less: Short-term debt (2)
30  155  
Less: Current portion of long-term debt (3)
—  251  
Less: Unamortized debt expense (4)
21  23  
Total long-term debt$4,349  $3,969  
____________________
(1)Unamortized premium (discount) on long-term debt is amortized over the life of the respective debt.
(2)Short-term debt includes $30 million and $155 million of outstanding commercial paper as of June 30, 2020 and December 31, 2019, respectively.
(3)As of December 31, 2019, Current portion of long-term debt included $251 million outstanding balance of the EOIT Senior Notes which were repaid in March 2020.
(4)As of June 30, 2020 and December 31, 2019, there was an additional $4 million of unamortized debt expense related to the Revolving Credit Facility included in Other assets, not included above.
[1],[2],[3],[4]
[1] As of December 31, 2019, Current portion of long-term debt included $251 million outstanding balance of the EOIT Senior Notes which were repaid in March 2020.
[2] As of June 30, 2020 and December 31, 2019, there was an additional $4 million of unamortized debt expense related to the Revolving Credit Facility included in Other assets, not included above.
[3] Short-term debt includes $30 million and $155 million of outstanding commercial paper as of June 30, 2020 and December 31, 2019, respectively.
[4] Unamortized premium (discount) on long-term debt is amortized over the life of the respective debt.