Note 7 - Long-term Debt - Long-term Debt (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Dec. 31, 2018 |
Total debt | | $ 6,179 | $ 6,044 |
Less current maturities | | (1,965) | (535) |
Less net debt issuance costs | | (71) | (61) |
Less discounts | [1] | 0 | (1) |
Total long-term debt | | 4,143 | 5,447 |
Revolving Credit Facility [Member] | | | |
Total debt | [2] | $ 0 | 0 |
Total debt, interest rate spread | [2],[3] | 1.75% | |
Revolving Credit Facility [Member] | Letter of Credit [Member] | | | |
Total debt | [2] | $ 52 | |
The 2019 Convertible Notes [Member] | | | |
Total debt | | $ 0 | 220 |
Total debt, interest rate | [3] | 3.50% | |
The 2020 Convertible Notes [Member] | | | |
Total debt | | $ 45 | 45 |
Total debt, interest rate | [3] | 3.25% | |
The 2024 Senior Notes [Member] | | | |
Total debt | | $ 500 | 500 |
Total debt, interest rate | [3] | 5.375% | |
The 2025 Senior Notes [Member] | | | |
Total debt | | $ 600 | 600 |
Total debt, interest rate | [3] | 5.75% | |
The 2026 Senior Notes [Member] | | | |
Total debt | | $ 350 | 350 |
Total debt, interest rate | [3] | 5.00% | |
Agua Caliente Borrower 2, Due 2038 [Member] | | | |
Total debt | [4],[5] | $ 38 | 39 |
Total debt, interest rate | [3],[4],[5] | 5.43% | |
Agua Caliente Borrower 2, Due 2038 [Member] | Letter of Credit [Member] | | | |
Total debt | [4],[5] | $ 17 | |
Alpine, Due 2022 [Member] | | | |
Total debt | [4] | $ 121 | 127 |
Total debt, interest rate spread | [3],[4] | 2.00% | |
Alpine, Due 2022 [Member] | Letter of Credit [Member] | | | |
Total debt | [4] | $ 16 | |
Alta Wind I - V Lease Financing Arrangements, Due 2034 and 2035 [Member] | | | |
Total debt | | $ 859 | 886 |
Alta Wind I - V Lease Financing Arrangements, Due 2034 and 2035 [Member] | Minimum [Member] | | | |
Total debt, interest rate | [3] | 5.696% | |
Alta Wind I - V Lease Financing Arrangements, Due 2034 and 2035 [Member] | Maximum [Member] | | | |
Total debt, interest rate | | 7.015% | |
Alta Wind I - V Lease Financing Arrangements, Due 2034 and 2035 [Member] | Letter of Credit [Member] | | | |
Total debt | | $ 29 | |
Buckthorn Solar, Due 2025 [Member] | | | |
Total debt | | $ 130 | 132 |
Total debt, interest rate spread | [3] | 1.75% | |
Buckthorn Solar, Due 2025 [Member] | Letter of Credit [Member] | | | |
Total debt | | $ 26 | |
CVSR, Due 2037 [Member] | | | |
Total debt | [4] | $ 696 | 720 |
CVSR, Due 2037 [Member] | Minimum [Member] | | | |
Total debt, interest rate | [3],[4] | 2.339% | |
CVSR, Due 2037 [Member] | Maximum [Member] | | | |
Total debt, interest rate | | 3.775% | |
CVSR, Due 2037 [Member] | Letter of Credit [Member] | | | |
Total debt | [4] | $ 0 | |
CVSR Holdco Notes, Due 2037 [Member] | | | |
Total debt | [4] | $ 182 | 188 |
Total debt, interest rate | [3],[4] | 4.68% | |
CVSR Holdco Notes, Due 2037 [Member] | Letter of Credit [Member] | | | |
Total debt | [4] | $ 13 | |
Duquesne, Due 2059 [Member] | | | |
Total debt | | $ 95 | 0 |
Total debt, interest rate | [3] | 4.62% | |
El Segundo Energy Center, Due 2023 [Member] | | | |
Total debt | | $ 303 | 352 |
El Segundo Energy Center, Due 2023 [Member] | Minimum [Member] | | | |
Total debt, interest rate spread | [3] | 1.75% | |
El Segundo Energy Center, Due 2023 [Member] | Maximum [Member] | | | |
Total debt, interest rate spread | | 2.375% | |
El Segundo Energy Center, Due 2023 [Member] | Letter of Credit [Member] | | | |
Total debt | | $ 138 | |
Energy Center Minneapolis Series D, E, F, G, H Notes, Due 2025-2037 [Member] | | | |
Total debt | | 328 | 328 |
Energy Center Minneapolis Series D, E, F, G, H Notes, Due 2025-2037 [Member] | Letter of Credit [Member] | | | |
Total debt | | 0 | |
Laredo Ridge, Due 2028 [Member] | | | |
Total debt | | $ 86 | 89 |
Total debt, interest rate spread | [3] | 2.125% | |
Laredo Ridge, Due 2028 [Member] | Letter of Credit [Member] | | | |
Total debt | | $ 10 | |
Kansas South, Due 2030 [Member] | | | |
Total debt | [4] | $ 25 | 26 |
Total debt, interest rate spread | [3],[4] | 2.00% | |
Kansas South, Due 2030 [Member] | Letter of Credit [Member] | | | |
Total debt | [4] | $ 2 | |
Kawailoa Solar Holdings LLC, Due 2026 [Member] | | | |
Total debt | | $ 134 | 0 |
Total debt, interest rate spread | [3] | 1.375% | |
Kawailoa Solar Holdings LLC, Due 2026 [Member] | Letter of Credit [Member] | | | |
Total debt | | $ 5 | |
Marsh Landing, Due 2023 [Member] | | | |
Total debt | [4] | $ 223 | 263 |
Total debt, interest rate spread | [3],[4] | 2.125% | |
Marsh Landing, Due 2023 [Member] | Letter of Credit [Member] | | | |
Total debt | [4] | $ 27 | |
Oahu Solar Holdings LLC, Due 2026 [Member] | | | |
Total debt | | $ 157 | 0 |
Total debt, interest rate spread | [3] | 1.375% | |
Oahu Solar Holdings LLC, Due 2026 [Member] | Letter of Credit [Member] | | | |
Total debt | | $ 11 | |
Repowering Partnership Holdco LLC, due 2020 [Member] | | | |
Total debt | | $ 298 | 0 |
Total debt, interest rate spread | [3] | 0.85% | |
Repowering Partnership Holdco LLC, due 2020 [Member] | Letter of Credit [Member] | | | |
Total debt | | $ 29 | |
South Trent Wind, Due 2028 [Member] | | | |
Total debt | | $ 44 | 50 |
Total debt, interest rate spread | [3] | 1.35% | |
South Trent Wind, Due 2028 [Member] | Letter of Credit [Member] | | | |
Total debt | | $ 12 | |
Tapestry, Due 2031 [Member] | | | |
Total debt | [1] | $ 159 | 151 |
Total debt, interest rate spread | [1],[3] | 1.375% | |
Tapestry, Due 2031 [Member] | Letter of Credit [Member] | | | |
Total debt | [1] | $ 19 | |
Utah Solar Portfolio, Due 2022 [Member] | | | |
Total debt | | $ 260 | 267 |
Total debt, interest rate spread | [3] | 2.625% | |
Utah Solar Portfolio, Due 2022 [Member] | Letter of Credit [Member] | | | |
Total debt | | $ 13 | |
Viento, Due 2023 [Member] | | | |
Total debt | | $ 42 | 146 |
Total debt, interest rate spread | [3] | 2.00% | |
Viento, Due 2023 [Member] | Letter of Credit [Member] | | | |
Total debt | | $ 14 | |
Walnut Creek, Due 2023 [Member] | | | |
Total debt | | $ 189 | 222 |
Total debt, interest rate spread | [3] | 1.75% | |
Walnut Creek, Due 2023 [Member] | Letter of Credit [Member] | | | |
Total debt | | $ 82 | |
Project Debt, Other [Member] | | | |
Total debt | | 315 | 343 |
Project Debt, Other [Member] | Letter of Credit [Member] | | | |
Total debt | | 24 | |
Project Debt [Member] | | | |
Total debt | | $ 4,684 | $ 4,329 |
| |
[1] | Discounts relate to the 2020 Convertible Notes | |
[2] | Applicable rate is determined by the borrower leverage ratio, as defined in the credit agreement | |
[3] | As of September 30, 2019, L+ equals 3 month LIBOR plus x%, except for Viento, due 2023 and Kansas South, due 2030 where L+ equals 6 month LIBOR plus 2.00% and Utah Solar Portfolio, Kawailoa Solar Holdings LLC, Oahu Solar Holdings LLC, Repowering Partnership Holdco LLC where L+ equals 1 month LIBOR plus 2.65% | |
[4] | Entities affected by PG&E bankruptcy, see further discussion below. | |
[5] | The Company repaid the debt on October 21, 2019, as further described below | |