Debt (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Schedule of Debt

The following table presents the Partnership’s outstanding debt.

	September 30, 2020						December 31, 2019
	Outstanding Principal		Discount (1)		Total Debt		Outstanding Principal		Premium (Discount) (1)		Total Debt
	(In millions)
Commercial Paper	$	334	$	—	$	334	$	155	$	—	$	155
Revolving Credit Facility	—		—		—		—		—		—
2019 Term Loan Agreement	800		—		800		800		—		800
2024 Notes	600		—		600		600		—		600
2027 Notes	700		(2)		698		700		(2)		698
2028 Notes	800		(5)		795		800		(5)		795
2029 Notes	547		(1)		546		550		(1)		549
2044 Notes	531		—		531		550		—		550
EOIT Senior Notes	—		—		—		250		1		251
Total debt	$	4,312	$	(8)	$	4,304	$	4,405	$	(7)	$	4,398
Less: Short-term debt (2)					334						155
Less: Current portion of long-term debt (3)					—						251
Less: Unamortized debt expense (4)					20						23
Total long-term debt					$	3,950					$	3,969

____________________

(1)Unamortized premium (discount) on long-term debt is amortized over the life of the respective debt.

(2)Short-term debt includes $334 million and $155 million of outstanding commercial paper as of September 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 September 30, 2020 and December 31, 2019, there was an additional $3 million and $4 million, respectively, 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 September 30, 2020 and December 31, 2019, there was an additional $3 million and $4 million, respectively, of unamortized debt expense related to the Revolving Credit Facility included in Other assets, not included above.

[3] Short-term debt includes $334 million and $155 million of outstanding commercial paper as of September 30, 2020 and December 31, 2019, respectively.

[4] Unamortized premium (discount) on long-term debt is amortized over the life of the respective debt.