Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Summary of Debt

As of June 30, 2020 and December 31, 2019, long-term debt consisted of the following (in millions):

	June 30, 2020						December 31, 2019
	Outstanding Principal		Premium (Discount)		Long-Term Debt		Outstanding Principal		Premium (Discount)		Long-Term Debt
Consolidated Credit Facility due 2024 (1)	$	400.0	$	—	$	400.0	$	350.0	$	—	$	350.0
Term Loan due 2021 (2)	850.0		—		850.0		850.0		—		850.0
ENLK’s 4.40% Senior unsecured notes due 2024	521.8		1.2		523.0		550.0		1.5		551.5
ENLK’s 4.15% Senior unsecured notes due 2025	720.8		(0.6)		720.2		750.0		(0.7)		749.3
ENLK’s 4.85% Senior unsecured notes due 2026	491.0		(0.4)		490.6		500.0		(0.5)		499.5
ENLC’s 5.375% Senior unsecured notes due 2029	498.7		—		498.7		500.0		—		500.0
ENLK’s 5.60% Senior unsecured notes due 2044	350.0		(0.2)		349.8		350.0		(0.2)		349.8
ENLK’s 5.05% Senior unsecured notes due 2045	450.0		(5.8)		444.2		450.0		(5.9)		444.1
ENLK’s 5.45% Senior unsecured notes due 2047	500.0		(0.1)		499.9		500.0		(0.1)		499.9
Debt classified as long-term, including current maturities of long-term debt	$	4,782.3	$	(5.9)	4,776.4		$	4,800.0	$	(5.9)	4,794.1
Debt issuance cost (3)					(27.4)						(29.8)
Long-term debt, net of unamortized issuance cost					$	4,749.0					$	4,764.3

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(1)Bears interest based on Prime and/or LIBOR plus an applicable margin. The effective interest rate was 1.8% and 3.3% at June 30, 2020 and December 31, 2019, respectively.

(2)Bears interest based on Prime and/or LIBOR plus an applicable margin. The effective interest rate was 1.7% and 3.2% at June 30, 2020 and December 31, 2019, respectively.

(3)Net of amortization of $12.6 million and $10.9 million at June 30, 2020 and December 31, 2019, respectively.

For the three and six months ended June 30, 2020, we and ENLK made aggregate payments to partially repurchase the 2024, 2025, 2026, and 2029 Notes in open market transactions. Activity related to the partial repurchases of our outstanding debt consisted of the following (in millions):

	Three Months Ended June 30, 2020		Six Months Ended June 30, 2020
Debt repurchased	$	57.2	$	67.7
Aggregate payments	(30.8)		(36.0)
Net discount on repurchased debt	(0.3)		(0.3)
Accrued interest on repurchased debt	0.6		0.6
Gain on extinguishment of debt	$	26.7	$	32.0