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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2014
Fair Value Disclosures [Abstract]  
Summary of the fair value of financial instruments
The estimated fair values of our other financial instruments at December 31, 2014 and 2013 have been calculated based upon available market information or an appropriate valuation technique, and are as follows:
 
 
December 31, 2014
 
December 31, 2013
 
Carrying
Amount
 
Fair
Value 
 
Carrying
Amount 
 
Fair
Value 
Level 1:
 
 
 
 
 
 
 
Senior and senior subordinated notes
$
6,063

 
$
6,390

 
$
5,381

 
$
5,848

Level 2:
 
 
 
 
 
 
 
4 percent Convertible Senior Notes (1)
32

 
33

 
136

 
149

Level 3:
 
 
 
 
 
 
 
Capital leases (2)
105

 
104

 
120

 
118

 
(1)
The fair value of the 4 percent Convertible Senior Notes is based on the market value of comparable notes. Consistent with the carrying amount, the fair value excludes the equity component of the notes. To exclude the equity component and calculate the fair value, we used an effective interest rate of 7.3 percent. As discussed below (see note 12), the total cost to settle the notes based on the closing price of our common stock on December 31, 2014 would be $310.
(2)
The fair value of capital leases reflects the present value of the leases using a 7.0 percent interest rate.