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Debt and Interest Expense (Tables)
 12 Months Ended
Dec. 31, 2014
Debt Disclosure [Abstract]  
Debt Outstanding and Debt Activity Tables
The following summarizes the Company’s outstanding debt:
 
December 31,
millions
2014
 
2013
5.750% Senior Notes due 2014
$
—

 
$
275

7.625% Senior Notes due 2014
—

 
500

5.950% Senior Notes due 2016
1,750

 
1,750

6.375% Senior Notes due 2017
2,000

 
2,000

7.050% Debentures due 2018
114

 
114

WES 2.600% Senior Notes due 2018
350

 
250

6.950% Senior Notes due 2019
300

 
300

8.700% Senior Notes due 2019
600

 
600

WES 5.375% Senior Notes due 2021
500

 
500

WES 4.000% Senior Notes due 2022
670

 
670

3.450% Senior Notes due 2024
625

 
—

6.950% Senior Notes due 2024
650

 
650

7.500% Debentures due 2026
112

 
112

7.000% Debentures due 2027
54

 
54

7.125% Debentures due 2027
150

 
150

6.625% Debentures due 2028
17

 
17

7.150% Debentures due 2028
235

 
235

7.200% Debentures due 2029
135

 
135

7.950% Debentures due 2029
117

 
117

7.500% Senior Notes due 2031
900

 
900

7.875% Senior Notes due 2031
500

 
500

Zero-Coupon Senior Notes due 2036
2,360

 
2,360

6.450% Senior Notes due 2036
1,750

 
1,750

7.950% Senior Notes due 2039
325

 
325

6.200% Senior Notes due 2040
750

 
750

4.500% Senior Notes due 2044
625

 
—

WES 5.450% Senior Notes due 2044
400

 
—

7.730% Debentures due 2096
61

 
61

7.500% Debentures due 2096
78

 
78

7.250% Debentures due 2096
49

 
49

WES revolving credit facility
510

 
—

Total debt at face value
$
16,687

 
$
15,202

Net unamortized discounts and premiums (1)
(1,616
)
 
(1,645
)
Total borrowings
$
15,071

 
$
13,557

Capital lease obligation
21

 
8

Less current portion of long-term debt
—

 
500

Total long-term debt
$
15,092

 
$
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 2014 and 2013:
millions
Carrying
Value
 
Description
Balance at December 31, 2012
$
13,269

 
 
Issuances
250

 
WES 2.600% Senior Notes due 2018
Borrowings
710

 
WES revolving credit facility
Repayments
(710
)
 
WES revolving credit facility
Other, net
38

 
Amortization of debt discounts and premiums
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
1,160

 
WES revolving credit facility
Repayments
(500
)
 
7.625% Senior Notes due 2014
 
(275
)
 
5.750% Senior Notes due 2014
 
(650
)
 
WES revolving credit facility
Other, net
39

 
Amortization of debt discounts and premiums
Balance at December 31, 2014
$
15,071

 
 
Scheduled Maturities Table
Total principal amount of debt maturities for the five years ending December 31, 2019, excluding the potential repayment of the outstanding Zero Coupons that may be put by the holder to the Company annually, were as follows:
millions
Principal
Amount of
Debt Maturities
2015
$
—

2016
1,750

2017
2,000

2018
464

2019
1,410
Interest Expense Table
The following summarizes interest expense for the years ended December 31:
millions
2014
 
2013
 
2012
Debt and other
$
973

 
$
949

 
$
963

Capitalized interest
(201
)
 
(263
)
 
(221
)
Total interest expense
$
772

 
$
686

 
$
742