Debt (Tables)

3 Months Ended

Mar. 31, 2024

Debt Disclosure [Abstract]

Long-term debt issuances and borrowings

Significant long-term debt issuances and borrowings during the three months ended March 31, 2024 were as follows:

	Principal Amount		Interest Rate						Maturity Date
	(millions)
NEECH:
Debentures – fixed	$	3,800	4.90	%	–	5.55	%		2026	–	2054
Debentures – variable	$	600	Variable					(a)	2026
Junior subordinated debentures	$	1,000	6.70				%	(b)	2054
Exchangeable senior notes(c)	$	1,000	3.00				%		2027
Canadian dollar denominated debentures(d)	$	744	4.85				%		2031
Revolving credit facilities	$	700	Variable					(a)	2025

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(a)Variable rate is based on an underlying index plus a specified margin.

(b)Debentures will bear interest at a rate of 6.70% to September 1, 2029 and thereafter will bear interest at a rate equal to the Five-Year Treasury Rate (as specified in the junior subordinated debentures) plus 2.364%, reset every five years.

(c)See additional discussion of the exchangeable senior notes below.

(d)A foreign currency swap has been entered into with respect to this debt issuance. See Note 2.