Financial instruments and fair value disclosures (Tables)

9 Months Ended

Sep. 30, 2022

Financial instruments and fair value disclosures

Summary of financial instruments measured at fair value

	Recurring Fair Value Measurements as of September 30, 2022
	Level 1		Level 2		Level 3		Total
Assets
Orbital receivables 1	$	—	$	394	$	—	$	394
Interest rate swaps		—		22		—		22
	$	—	$	416	$	—	$	416
Liabilities
Long-term debt 2	$	—	$	2,032	$	—	$	2,032
	$	—	$	2,032	$	—	$	2,032

	Recurring Fair Value Measurements as of December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets
Orbital receivables 1	$	—	$	481	$	—	$	481
Interest rate swaps		—		3		—		3
	$	—	$	484	$	—	$	484
Liabilities
Interest rate swaps	$	—	$	4	$	—	$	4
Long-term debt 2		—		2,132		—		2,132
	$	—	$	2,136	$	—	$	2,136

¹ The carrying value of orbital receivables was $392 million and $417 million as of September 30, 2022 and December 31, 2021, respectively.

² Long-term debt excludes borrowings under the Revolving Credit Facility, deferred financing and obligations under finance leases and other, and is carried at amortized cost. The outstanding carrying value was $2,044 million and $2,055 million as of September 30, 2022 and December 31, 2021, respectively. The carrying value of borrowings under the Revolving Credit Facility approximates their fair value.