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Debt and Interest Expense (Tables)
 3 Months Ended
Mar. 31, 2014
Table Text Block [Abstract]  
Debt Outstanding and Debt Activity Tables
The following summarizes the Company’s outstanding debt:
 
March 31,
 
December 31,
millions
2014
 
2013
Total debt at face value
$
15,202

 
$
15,202

Net unamortized discounts and premiums (1)
(1,641
)
 
(1,645
)
Total borrowings
$
13,561

 
$
13,557

Capital lease obligation
8

 
8

Less current portion of long-term debt
—

 
500

Total long-term debt
$
13,569

 
$
13,065

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

The following summarizes the Company’s debt activity during the three months ended March 31, 2014:
 
Carrying
 
 
 
 
millions
Value
 
Description
Balance at December 31, 2013
$
13,557

 
 
 
 
Issuances
101

 
WES 2.600% Senior Notes due 2018
 
394

 
WES 5.450% Senior Notes due 2044
Borrowings
430

 
WES revolving credit facility
Repayments
(500
)
 
7.625% Senior Notes due 2014
 
(430
)
 
WES revolving credit facility
Other, net
9

 
Amortization of debt discounts and premiums
Balance at March 31, 2014
$
13,561

 
 
 
 
Interest Expense Table
The following summarizes interest expense:
 
Three Months Ended 
 March 31,
millions
2014
 
2013
Debt and other
$
240

 
$
232

Capitalized interest
(57
)
 
(68
)
Interest expense
$
183

 
$
164