The following summarizes the Company’s borrowing activity, after eliminating the effect of intercompany transactions, during the three months ended March 31, 2018:



	Carrying Value
millions	WES			WGP ⁽¹⁾		Anadarko ⁽²⁾			Anadarko Consolidated			Description
Balance at December 31, 2017	$	3,465		$	28	$	11,965		$	15,458
Issuances	394			—		—			394			WES 4.500% Senior Notes due 2028
	687			—		—			687			WES 5.300% Senior Notes due 2048
Borrowings	260			—		—			260			WES RCF
Repayments	(630		)	—		—			(630		)	WES RCF
	—			—		(8		)	(8		)	TEUs - senior amortizing notes
Other, net	—			—		13			13			Amortization of discounts, premiums, and debt issuance costs
Balance at March 31, 2018	$	4,176		$	28	$	11,970		$	16,174

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⁽¹⁾	Excludes WES.


⁽²⁾	Excludes WES and WGP.

10. Debt (Continued)

Debt The following summarizes the Company’s outstanding debt, including capital lease obligations, after eliminating the effect of intercompany transactions:



millions	WES			WGP ⁽¹⁾		Anadarko ⁽²⁾			Consolidated
March 31, 2018
Total borrowings at face value	$	4,220		$	28	$	13,506		$	17,754
Net unamortized discounts, premiums, and debt issuance costs ⁽³⁾	(44		)	—		(1,536		)	(1,580		)
Total borrowings ⁽⁴⁾	4,176			28		11,970			16,174
Capital lease obligations	—			—		230			230
Less short-term debt	—			28		733			761
Total long-term debt	$	4,176		$	—	$	11,467		$	15,643

December 31, 2017
Total borrowings at face value	$	3,490		$	28	$	13,514		$	17,032
Net unamortized discounts, premiums, and debt issuance costs ⁽³⁾	(25		)	—		(1,549		)	(1,574		)
Total borrowings ⁽⁴⁾	3,465			28		11,965			15,458
Capital lease obligations	—			—		231			231
Less short-term debt	—			—		142			142
Total long-term debt	$	3,465		$	28	$	12,054		$	15,547

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⁽¹⁾	Excludes WES.


⁽²⁾	Excludes WES and WGP.


⁽³⁾	Unamortized discounts, premiums, and debt issuance costs are amortized over the term of the related debt. Debt issuance costs related to RCFs are included in other current assets and other assets on the Company’s Consolidated Balance Sheets.


⁽⁴⁾	The Company’s outstanding borrowings, except for borrowings under the WGP RCF, are senior unsecured.