Long-Term Debt	6 Months Ended
Jun. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	7. Long-Term Debt Fair Value of Long-Term Debt At June 30, 2024, TEC’s long-term debt, including the current portion, had a carrying amount of $4,233 million and an estimated fair market value of $3,728 million. At December 31, 2023, long-term debt had a carrying amount of $4,233 million and an estimated fair market value of $3,831 million. The fair value of the debt securities is determined using Level 2 measurements. TEC 4.90% Notes due 2029 On January 30, 2024, TEC completed a sale of $500 million aggregate principal amount of 4.90% Notes due March 1, 2029 (the 2029 Notes). Prior to February 1, 2029, in the case of the 2029 Notes, TEC may redeem all or any part of such series of Notes at its option at a redemption price equal to the greater of (i) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date on a semi-annual basis at the Treasury Rate plus 15 basis points less interest accrued to the date of redemption or (ii) 100% of the principal amount of the notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date. On or after February 1, 2029, TEC may redeem the 2029 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to the redemption date. TEC used the net proceeds from this offering for the repayment of a portion of the borrowings outstanding under the credit facility. Therefore, $497 million of borrowings outstanding under the credit facility were reclassified from notes payable to long-term debt on the Balance Sheet as of December 31, 2023. TEC 3.875% Notes due 2024 On July 12, 2024, TEC repaid a $300 million note upon maturity. This note was repaid with proceeds from commercial paper.

Long-Term Debt

6 Months Ended

Jun. 30, 2024

7. Long-Term Debt

Fair Value of Long-Term Debt

At June 30, 2024, TEC’s long-term debt, including the current portion, had a carrying amount of $4,233 million and an estimated fair market value of $3,728 million. At December 31, 2023, long-term debt had a carrying amount of $4,233 million and an estimated fair market value of $3,831 million. The fair value of the debt securities is determined using Level 2 measurements.

TEC 4.90% Notes due 2029

On January 30, 2024, TEC completed a sale of $500 million aggregate principal amount of 4.90% Notes due March 1, 2029 (the 2029 Notes). Prior to February 1, 2029, in the case of the 2029 Notes, TEC may redeem all or any part of such series of Notes at its option at a redemption price equal to the greater of (i) the sum of the present values of the remaining scheduled payments of principal and interest thereon discounted to the redemption date on a semi-annual basis at the Treasury Rate plus 15 basis points less interest accrued to the date of redemption or (ii) 100% of the principal amount of the notes to be redeemed, plus, in either case, accrued and unpaid interest thereon to the redemption date. On or after February 1, 2029, TEC may redeem the 2029 Notes, in whole or in part, at any time and from time to time, at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to the redemption date. TEC used the net proceeds from this offering for the repayment of a portion of the borrowings outstanding under the credit facility. Therefore, $497 million of borrowings outstanding under the credit facility were reclassified from notes payable to long-term debt on the Balance Sheet as of December 31, 2023.

TEC 3.875% Notes due 2024

On July 12, 2024, TEC repaid a $300 million note upon maturity. This note was repaid with proceeds from commercial paper.