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Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Fair Value, by Balance Sheet Grouping
Estimated fair values of the Company's outstanding debt were:
 
 
 
December 31, 2019
 
December 31, 2018
 
Fair value
hierarchy
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
Long-term debt (including current maturities):
 
 
 
Term loans and senior notes
Level 2
 
$
5,179

 
$
5,113

 
$
5,307

 
$
5,218



The following table presents assets and liabilities included in the Company's consolidated balance sheets as of December 31, 2019 and 2018 that are recognized at fair value on a recurring basis, and indicate the fair value hierarchy utilized to determine such fair value:
 
 
 
December 31, 2019
 
December 31, 2018
 
Fair value
hierarchy
 
Carrying
Amount
 
Fair
Value
 
Carrying
Amount
 
Fair
Value
Derivative instruments:
 
 

Equity swap agreement
Level 2
 
$
(1
)
 
$
(1
)
 
$
4

 
$
4

Commodity contracts
Level 2
 
$
—

 
$
—

 
$
(2
)
 
$
(2
)