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Debt and Interest Expense (Tables)
 6 Months Ended
Jun. 30, 2013
Table Text Block [Abstract]  
Debt Outstanding and Debt Activity Tables
The following summarizes the Company’s outstanding debt:
 
June 30,
 
December 31,
millions
2013
 
2012
Total debt at face value
$
15,202

 
$
14,952

Net unamortized discounts and premiums (1)
(1,664
)
 
(1,683
)
Total long-term debt
$
13,538

 
$
13,269

__________________________________________________________________
(1)
Unamortized discounts and premiums are amortized over the term of the related debt.

The following summarizes the Company’s debt activity during the six months ended June 30, 2013:
 
Carrying
 
 
 
 
millions
Value
 
Description
Balance at December 31, 2012
$
13,269

 
 
 
 
Borrowings
385

 
WES revolving credit facility
Other, net
9

 
Amortization of debt discounts and premiums
Balance at March 31, 2013
$
13,663

 
 
 
 
Borrowings
110

 
WES revolving credit facility
Repayments
(245
)
 
WES revolving credit facility
Other, net
10

 
Amortization of debt discounts and premiums
Balance at June 30, 2013
$
13,538

 
 
 
 
Interest Expense Table
The following summarizes interest expense:
 
Three Months Ended 
 June 30,
 
Six Months Ended 
 June 30,
millions
2013
 
2012
 
2013
 
2012
Current debt, long-term debt, and other
$
238

 
$
236

 
$
470

 
$
486

Capitalized interest
(66
)
 
(46
)
 
(134
)
 
(110
)
Interest expense
$
172

 
$
190

 
$
336

 
$
376