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DEBT (Tables)

9 Months Ended

Sep. 30, 2015

DEBT [Abstract]

Schedule of Debt Obligations

		Interest				September 30,				December 31,
		Rate				2015				2014
						(in millions)
EEP debt obligations:
Commercial Paper⁽¹⁾			1.000	%		$	321.1			$	612.3
Credit Facilities due 2016 – 2019			1.30% – 3.75	%			1,885.0				1,160.0
Senior Notes due December 2016			5.875	%			300.0				300.0
Senior Notes due October 2018			7.000	%			100.0				100.0
Senior Notes due April 2018			6.500	%			400.0				400.0
Senior Notes due March 2019			9.875	%			500.0				500.0
Senior Notes due March 2020			5.200	%			500.0				500.0
Senior Notes due September 2021			4.200	%			600.0				600.0
Senior Notes due October 2028			7.125	%			100.0				100.0
Senior Notes due June 2033			5.950	%			200.0				200.0
Senior Notes due December 2034			6.300	%			100.0				100.0
Senior Notes due April 2038			7.500	%			400.0				400.0
Senior Notes due September 2040			5.500	%			550.0				550.0
Junior subordinated notes due 2067			8.050	%			400.0				400.0
MEP debt obligations:
MEP Credit Agreement due 2016 – 2018			2.672	%			420.0				360.0
MEP Series A Senior Notes due September 2019			3.560	%			75.0				75.0
MEP Series B Senior Notes due September 2021			4.040	%			175.0				175.0
MEP Series C Senior Notes due September 2024			4.420	%			150.0				150.0
Total Principal of Debt Obligations							7,176.1				6,682.3
Other:
Unamortized Discount							(6.3	)			(7.1	)
Total Long Term Debt						$	7,169.8			$	6,675.2

⁽¹⁾	Individual issuances of commercial paper generally mature in 90 days or less, but are supported by our Credit Facilities and are therefore considered long-term debt.

Schedule of Interest Costs

		For the three months								For the nine months
		ended September 30,								ended September 30,
		2015				2014				2015				2014
		(in millions)
Interest cost incurred		$	98.8			$	148.7			$	243.4			$	329.9
Less: Interest capitalized			10.6				11.6				28.9				35.7
Interest expense		$	88.2			$	137.1			$	214.5			$	294.2

Schedule of Line of Credit Facilities

		(in millions)
Total credit available under our Credit Facilities		$	2,600.0
Total credit available under the EUS 364-day Credit Facility			750.0
Less: Amounts outstanding under our Credit Facilities			1,885.0
Principal amount of commercial paper outstanding			321.1
EUS 364-day Credit Facility⁽¹⁾			—
Letters of credit outstanding			419.3
Total amount available at September 30, 2015 ⁽²⁾		$	724.6

	⁽¹⁾	Refer to Note 10. Related Party Transactions for further details regarding the EUS 364-day Credit Facility.
	(2)	On October 6, 2015, we closed a public offering of senior unsecured notes, for net aggregate proceeds of approximately $1.26 billion, after deducting underwriting discounts and commissions and estimated offering expenses and settlement of pre-issuance hedges. We used a portion of the net proceeds from this offering to repay a portion of our outstanding commercial paper and to repay any credit facility borrowings that were outstanding. After the offering on a pro-forma basis the total amount available under the Credit Facilities and the EUS-364 day Credit Facility, less amounts outstanding, is approximately $2.0 billion.