Financial instruments and fair value disclosures (Tables)

3 Months Ended

Mar. 31, 2023

Financial instruments and fair value disclosures

Summary of financial instruments measured at fair value

	Recurring Fair Value Measurements as of March 31, 2023
	Level 1		Level 2		Level 3		Total
Assets
Orbital receivables 1	$	—	$	400	$	—	$	400
Interest rate swaps		—		13		—		13
	$	—	$	413	$	—	$	413
Liabilities
Long-term debt 2	$	—	$	2,175	$	—	$	2,175
	$	—	$	2,175	$	—	$	2,175

	Recurring Fair Value Measurements as of December 31, 2022
	Level 1		Level 2		Level 3		Total
Assets
Orbital receivables 1	$	—	$	392	$	—	$	392
Interest rate swaps		—		21		—		21
	$	—	$	413	$	—	$	413
Liabilities
Long-term debt 2	$	—	$	2,168	$	—	$	2,168
	$	—	$	2,168	$	—	$	2,168

¹ The carrying value of orbital receivables was $347 million and $351 million as of March 31, 2023 and December 31, 2022, respectively.

² Long-term debt excludes borrowings under the Revolving Credit Facility, deferred financing costs and obligations under finance leases and other, and is carried at amortized cost. The outstanding carrying value was $2,045 million as of both March 31, 2023 and December 31, 2022. The carrying value of borrowings under the Revolving Credit Facility approximates their fair value.