Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2015

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 2016 through 2020 and thereafter are as follows:

Long-Term Debt Maturities

													Total
As of Dec. 31, 2015													Long-Term
(millions)	2016		2017		2018		2019		2020		Thereafter		Debt
TECO Finance	$	250.0	$	300.0	$	250.0	$	0.0	$	300.0	$	0.0	$	1,100.0
Tampa Electric		83.3		0.0		254.2		0.0		0.0		1,666.7		2,004.2
PGS		0.0		0.0		50.0		0.0		0.0		211.7		261.7
NMGC		0.0		0.0		0.0		0.0		0.0		270.0		270.0
NMGI		0.0		0.0		0.0		50.0		0.0		150.0		200.0
Total long-term debt maturities	$	333.3	$	300.0	$	554.2	$	50.0	$	300.0	$	2,298.4	$	3,835.9

Schedule of Long-Term Debt Outstanding

At Dec. 31, 2015 and 2014, TECO Energy had the following long-term debt outstanding:

Long-Term Debt
(millions)		Due	2015		2014
TECO Finance	Notes (1)(2) : 6.75% (3)	2015	$	0.0	$	191.2
	4.00% (3)	2016		250.0		250.0
	6.57% (3)	2017		300.0		300.0
	Floating rate notes	2018		250.0		0.0
	5.15% (3)	2020		300.0		300.0
	Total long-term debt of TECO Finance			1,100.0		1,041.2
Tampa Electric	Installment contracts payable (4) :
	5.65% Refunding bonds	2018		54.2		54.2
	Variable rate bonds repurchased in 2008 (5)	2020		0.0		0.0
	5.15% Refunding bonds repurchased in 2013 (6)	2025		0.0		0.0
	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)(2) : 6.25%	2015-2016		83.3		166.7
	6.10%	2018		200.0		200.0
	5.40%	2021		231.7		231.7
	2.60%	2022		225.0		225.0
	6.55%	2036		250.0		250.0
	6.15%	2037		190.0		190.0
	4.10%	2042		250.0		250.0
	4.35%	2044		290.0		290.0
	4.20%	2045		230.0		0.0
	Total long-term debt of Tampa Electric			2,004.2		1,857.6
PGS	Notes (2)(3) : 6.10%	2018		50.0		50.0
	5.40%	2021		46.7		46.7
	2.60%	2022		25.0		25.0
	6.15%	2037		60.0		60.0
	4.10%	2042		50.0		50.0
	4.35%	2044		10.0		10.0
	4.20%	2045		20.0		0.0
	Total long-term debt of PGS			261.7		241.7
NMGI	Notes (2)(3) : 2.71%	2019		50.0		50.0
	3.64%	2024		150.0		150.0
	Total long-term debt of NMGI			200.0		200.0
NMGC	Notes (2)(3) : 4.87%	2021		200.0		200.0
	3.54%	2026		70.0		70.0
	Total long-term debt of NMGC			270.0		270.0
	Total long-term debt of TECO Energy			3,835.9		3,610.5
Unamortized debt discount, net				14.3		18.0
Total carrying amount of long-term debt				3,850.2		3,628.5
Less amount due within one year				333.3		274.5
Total long-term debt			$	3,516.9	$	3,354.0

(1) Guaranteed by TECO Energy.

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

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

(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.