Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2013

Debt Disclosure [Abstract]

Schedule of Maturities of Long-Term Debt

TECO Energy’s gross maturities and annual sinking fund requirements of long-term debt for 2014 through 2018 and thereafter are as follows:

Long-Term Debt Maturities
As of Dec. 31, 2013 (millions)	2014		2015		2016		2017		2018		Thereafter		Total Long-Term Debt
TECO Finance	$	0.0	$	191.2	$	250.0	$	300.0	$	0.0	$	300.0	$	1,041.2
Tampa Electric		83.3		83.3		83.4		0.0		254.2		1,146.7		1,650.9
PGS		0.0		0.0		0.0		0.0		50.0		181.7		231.7
Total long-term debt maturities	$	83.3	$	274.5	$	333.4	$	300.0	$	304.2	$	1,628.4	$	2,923.8

Schedule of Long-Term Debt Outstanding

At Dec. 31, 2013 and 2012, TECO Energy had the following long-term debt outstanding:

Long-Term Debt
(millions) Dec. 31,		Due	2013			2012
TECO Finance	Notes (1)(2)(3): 6.75% (effective rate of 6.9%)	2015	$	191.2		$	191.2
	4.0% (effective rate of 4.2%)	2016		250.0			250.0
	6.572% (effective rate of 7.3%)	2017		300.0			300.0
	5.15% (effective rate of 5.3%)	2020		300.0			300.0
Total long-term debt of TECO Finance				1,041.2			1,041.2
Tampa Electric	Installment contracts payable (4):
	5.65% Refunding bonds (effective rate of 5.9%)	2018		54.2			54.2
	Variable rate bonds repurchased in 2008 (5)	2020		0.0			0.0
	5.15% Refunding bonds repurchased in 2013 (effective rate of 5.4% for 2012) (6)	2025		0.0			51.6
	1.5% Term rate bonds repurchased in 2011 (7)	2030		0.0			0.0
	5.0% Refunding bonds repurchased in 2012 (8)	2034		0.0			0.0
	Notes (1): 6.25% (effective rate of 6.3%) (2)	2014-2016		250.0			250.0
	6.1% (effective rate of 6.0%)	2018		200.0			200.0
	5.4% (effective rate of 5.4%)	2021		231.7			231.7
	2.6% (effective rate of 2.7%)	2022		225.0			225.0
	6.55% (effective rate of 6.6%)	2036		250.0			250.0
	6.15% (effective rate of 6.2%)	2037		190.0			190.0
	4.1% (effective rate of 4.2%)	2042		250.0			250.0
Total long-term debt of Tampa Electric				1,650.9			1,702.5
PGS	Notes (1): 6.1% (effective rate of 7.0%)	2018		50.0			50.0
	5.4% (effective rate of 5.4%)	2021		46.7			46.7
	2.6% (effective rate of 2.7%)	2022		25.0			25.0
	6.15% (effective rate of 6.2%)	2037		60.0			60.0
	4.1% (effective rate of 4.2%)	2042		50.0			50.0
Total long-term debt of PGS				231.7			231.7
Total long-term debt of TECO Energy				2,923.8			2,975.4
Unamortized debt discount, net				(2.7	)		(2.7	)
Total carrying amount of long-term debt				2,921.1			2,972.7
Less amount due within one year				83.3			0.0
Total long-term debt			$	2,837.8		$	2,972.7

(1) These securities are subject to redemption in whole or in part, at any time, at the option of the company.

(2) These long-term debt agreements contain various restrictive financial covenants.

(3) Guaranteed by TECO Energy.

(4) Tax-exempt securities.

(5) In March 2008 these bonds, which were in auction rate mode, were purchased in lieu of redemption by TEC. These held variable rate bonds have a par amount of $20.0 million due in 2020.

(6) In September 2013 these bonds, which were in term rate mode, were purchased in lieu of redemption by TEC. These held term rate bonds have a par amount of $51.6 million due in 2025.

(7) In March 2011 these bonds, which were in term rate mode, were purchased in lieu of redemption by TEC. These held term rate bonds have a par amount of $75.0 million due in 2030.

(8) In March 2012 these bonds, which were in term rate mode, were purchased in lieu of redemption by TEC. These held term rate bonds have a par amount of $86.0 million due in 2034.