Debt and Financing Arrangements (Notes)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Debt and Financing Arrangements

Note 4 – Debt and Financing Arrangements

Credit Facility

We, along with Williams and Northwest Pipeline LLC (Northwest), are party to a credit agreement with aggregate commitments available of $3.75 billion, with up to an additional $500 million increase in aggregate commitments available under certain circumstances. We and Northwest are each able to borrow up to $500 million under the credit facility to the extent not otherwise utilized by the other co-borrowers. At June 30, 2024, no letters of credit have been issued and no loans were outstanding under the credit facility.

Commercial Paper Program

Williams has a $3.5 billion commercial paper program. Williams’ management considers amounts outstanding under this program to be a reduction of available capacity under the credit facility. At June 30, 2024, Williams had $630 million outstanding commercial paper.

Other Financing Obligations

Dalton Expansion Project

At June 30, 2024 and December 31, 2023, the amount included in Long-Term Debt on the Balance Sheet for this financing obligation was $245.6 million and $246.8 million, respectively, and the amount included in Long-term debt due within one year on the Balance Sheet for this financing obligation was $3.2 million and $3.0 million, respectively.

Atlantic Sunrise Project

During the first six months of 2024 and 2023, we received an additional $1.2 million and $4.3 million, respectively, of funding from a co-owner for its proportionate share of construction costs related to its undivided ownership interest in certain parts of the project. This additional funding is reflected in Long-Term Debt on the Balance Sheet. At June 30, 2024 and December 31, 2023, the amount included in Long-Term Debt on the Balance Sheet for this financing obligation was $749.4 million and $762.8 million, respectively, and the amount included in Long-term debt due within one year on the Balance Sheet for this financing obligation was $28.7 million and $27.4 million, respectively.

Leidy South Project

At June 30, 2024 and December 31, 2023, the amount included in Long-Term Debt on the Balance Sheet for this financing obligation was $74.3 million and $75.0 million, respectively, and the amount included in Long-term debt due within one year on the Balance Sheet for this financing obligation was $1.3 million and $1.3 million, respectively.