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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Abstract]  
Estimated Fair Values and Carrying Values of Long-Term Debt and Line of Credit

The estimated fair values and carrying values of our long-term debt and line of credit consisted of the following:

 

 

 

SEPTEMBER 30,

2019

 

 

DECEMBER 31,

2018

 

DOLLAR AMOUNTS IN MILLIONS

 

CARRYING

VALUE

 

 

FAIR VALUE

(LEVEL 2)

 

 

CARRYING

VALUE

 

 

FAIR VALUE

(LEVEL 2)

 

Long-term debt (including current maturities) and line of credit(1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed rate

 

$

5,925

 

 

$

7,041

 

 

$

5,694

 

 

$

6,345

 

Variable rate

 

 

665

 

 

 

665

 

 

 

650

 

 

 

650

 

Total debt

 

$

6,590

 

 

$

7,706

 

 

$

6,344

 

 

$

6,995

 

 

(1)

Prior year balances exclude nonrecourse debt held by our Variable Interest Entities (VIEs). Refer to Note 6: Variable Interest Entities for further information on our VIEs and the related nonrecourse debt, which matured in third quarter 2019.