Debt (Tables)

12 Months Ended

Dec. 31, 2012

Debt outstanding was as follows (in millions):



	Successor
	December 31, 2012 ^a					December 31, 2011 ^a
Notes and debentures, due 2013 to 2097	$	12,600		5.4	%	$	10,406		5.8	%
Equipment obligations, due 2013 to 2027	153			5.9		183			6.0
Capitalized lease obligations, due 2013 to 2028	971			6.0		1,140			5.9
Mortgage bonds, due 2013 to 2047	85			4.7		88			4.9
Financing obligations, due 2013 to 2028	296			6.2		310			6.2
Unamortized fair value adjustment under acquisition method accounting, discount and other, net	428					538
Total	14,533					12,665
Less current portion of long-term debt	(453		)	5.1	%	(526		)	5.9	%
Long-term debt	$	14,080				$	12,139

^aAmounts represent debt outstanding and weighted average effective interest rates for 2012 and 2011, respectively. Maturities are as of December 31, 2012.

Schedule of Maturities of Long-term Debt [Table Text Block]

The following table provides fair value information for the Company’s debt obligations including principal cash flows, related weighted average interest rates by contractual maturity dates and fair value. The Company had no outstanding variable rate debt at December 31, 2012.



	December 31, 2012 (Successor)
	Maturity Date																		Total Including Capital Leases			Total Excluding Capital Leases ^a,b		Fair Value Excluding Capital Leases ^b
	2013			2014			2015			2016			2017			Thereafter			Total Including Capital Leases			Total Excluding Capital Leases ^a,b		Fair Value Excluding Capital Leases ^b
Fixed-rate debt (in millions)	$	453		$	646		$	365		$	373		$	717		$	11,979		$	14,533		$	13,455	$	15,291
Average interest rate	5.1		%	6.8		%	5.2		%	6.6		%	5.7		%	5.4		%	5.5		%

^a Amount also excludes unamortized fair value adjustment under acquisition method accounting related to capital leases.

^b Amount also excludes unamortized gains on interest rate swaps.

Schedule of Guarantor Obligations

Debt and other obligations of non-consolidated entities guaranteed by the Company as of December 31, 2012, were as follows (dollars in millions):



	Guarantees
	BNSF Ownership Percentage		Principal Amount Guaranteed			Maximum Future Payments			Maximum Recourse Amount		^a	Remaining Term (in years)	Capitalized Obligations
Kinder Morgan Energy Partners, L.P.	0.5	%	$	190		$	190		$	—		Termination of Ownership	$	2	^b
Chevron Phillips Chemical Company LP	—	%	N/A		^d	N/A		^d	N/A		^d	5	$	8	^c
All other	—	%	$	9		$	14		$	—		Various	$	—

^a Reflects the maximum amount the Company could recover from a third party other than the counterparty.

^b Reflects capitalized obligations that are recorded on the Company’s Consolidated Balance Sheet.

^c Reflects the asset and corresponding liability for the fair value of these guarantees required by authoritative accounting guidance related to guarantees.

^d There is no cap to the liability that can be sought from BNSF for BNSF’s negligence or the negligence of the indemnified party. However, BNSF could receive reimbursement from certain insurance policies if the liability exceeds a certain amount.

- Definition

Tabular disclosure of each guarantee obligation, or each group of similar guarantee obligations, including (a) the nature of the guarantee, including its term, how it arose, and the events or circumstances that would require the guarantor to perform under the guarantee; (b) the maximum potential amount of future payments (undiscounted) the guarantor could be required to make under the guarantee; (c) the current carrying amount of the liability, if any, for the guarantor's obligations under the guarantee; and (d) the nature of any recourse provisions under the guarantee, and any assets held either as collateral or by third parties, and any relevant related party disclosure. Excludes disclosures about product warranties.

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