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Debt and Interest Expense (Tables)
 9 Months Ended
Sep. 30, 2014
Debt Disclosure [Abstract]  
Debt Outstanding and Debt Activity Tables
The following summarizes the Company’s outstanding debt:
 
September 30,
 
December 31,
millions
2014
 
2013
Total debt at face value
$
16,347

 
$
15,202

Net unamortized discounts and premiums (1)
(1,627
)
 
(1,645
)
Total borrowings
$
14,720

 
$
13,557

Capital lease obligation
8

 
8

Less current portion of long-term debt
—

 
500

Total long-term debt
$
14,728

 
$
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 nine months ended September 30, 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
 
624

 
3.450% Senior Notes due 2024
 
621

 
4.500% Senior Notes due 2044
Borrowings
650

 
WES revolving credit facility
Repayments
(500
)
 
7.625% Senior Notes due 2014
 
(275
)
 
5.750% Senior Notes due 2014
 
(480
)
 
WES revolving credit facility
Other, net
28

 
Amortization of debt discounts and premiums
Balance at September 30, 2014
$
14,720

 
 
Interest Expense Table
The following summarizes interest expense:
 
Three Months Ended 
 September 30,
 
Nine Months Ended 
 September 30,
millions
2014
 
2013
 
2014
 
2013
Debt and other
$
250

 
$
240

 
$
723

 
$
710

Capitalized interest
(46
)
 
(63
)
 
(150
)
 
(197
)
Total interest expense
$
204

 
$
177

 
$
573

 
$
513