Financial instruments and fair value disclosures (Tables)

12 Months Ended

Dec. 31, 2020

Financial instruments and fair value disclosures

Summary of financial instruments measured at fair value

	Recurring Fair Value Measurements of as of December 31, 2020
	Level 1		Level 2		Level 3		Total
Liabilities
Interest rate swaps	$	—	$	20	$	—	$	20
Long-term debt1		—		2,556		—		2,556
	$	—	$	2,576	$	—	$	2,576

	Recurring Fair Value Measurements of as of December 31, 2019
	Level 1		Level 2		Level 3		Total
Assets
Short-term investments	$	1	$	—	$	—	$	1
	$	1	$	—	$	—	$	1
Liabilities
Interest rate swaps	$	—	$	18	$	—	$	18
Long-term debt1		—		3,004		—		3,004
	$	—	$	3,022	$	—	$	3,022

¹ Long-term debt excludes finance leases, deferred financing and other and is carried at amortized cost. The outstanding carrying value was $2,387 million and $2,906 million at December 31, 2020 and 2019, respectively.