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Debt and Interest Expense (Tables)
 3 Months Ended
Mar. 31, 2015
Debt Disclosure [Abstract]  
Debt Outstanding and Debt Activity Tables
The following summarizes the Company’s outstanding debt:
millions
March 31,
2015
 
December 31,
2014
Total debt at face value
$
18,450

 
$
16,687

Net unamortized discounts and premiums (1)
(1,606
)
 
(1,616
)
Total borrowings
$
16,844

 
$
15,071

Capital lease obligation
21

 
21

Less short-term debt
500

 
—

Total long-term debt
$
16,365

 
$
15,092

__________________________________________________________________
(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, 2015:
 
Carrying
 
 
millions
Value
 
Description
Balance at December 31, 2014
$
15,071

 
 
Borrowings
1,500

 
$5.0 billion revolving credit facility
 
1,800

 
364-Day Facility
 
140

 
WES revolving credit facility
 
1,153

 
Commercial paper notes
Repayments
(1,500
)
 
$5.0 billion revolving credit facility
 
(1,300
)
 
364-Day Facility
 
(30
)
 
WES revolving credit facility
Other, net
10

 
Amortization of debt discounts and premiums
Balance at March 31, 2015
$
16,844

 
 
Interest Expense Table
The following summarizes interest expense:
 
Three Months Ended 
 March 31,
millions
2015
 
2014
Debt and other
$
254

 
$
240

Capitalized interest
(38
)
 
(57
)
Total interest expense
$
216

 
$
183