Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The following table reflects the carrying value (reduced for deferred financing costs associated with the respective notes) and fair value of our senior notes (in millions):

	December 31, 2017				December 31, 2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
2020 Senior Notes	$	—	$	—	$	340.6	$	350.2
2022 Senior Notes	$	—	$	—	$	429.3	$	447.3
2023 Senior Notes	$	692.1	$	728.8	$	690.6	$	722.6
2025 Senior Notes	$	492.3	$	517.9	$	—	$	—

Assets And Liabilities Measured At Fair Value On Recurring Basis

The following tables set forth by level within the fair value hierarchy, our financial instruments that were accounted for at fair value on a recurring basis at December 31, 2017 and 2016 (in millions):

	December 31, 2017
	Level 1		Level 2		Level 3		Gross Fair Value		Contract Netting(1)			Collateral/Margin Received or Paid			Recorded in Balance Sheet
Assets
Assets from price risk management	$	1.1	$	102.2	$	—	$	103.3	$	(74.6	)	$	(21.5	)	$	7.2
Suburban Propane Partners, L.P. units(2)	3.5		—		—		3.5		—			—			3.5
Total assets at fair value	$	4.6	$	102.2	$	—	$	106.8	$	(74.6	)	$	(21.5	)	$	10.7
Liabilities
Liabilities from price risk management	$	1.4	$	118.2	$	—	$	119.6	$	(74.6	)	$	3.9		$	48.9
Total liabilities at fair value	$	1.4	$	118.2	$	—	$	119.6	$	(74.6	)	$	3.9		$	48.9
	December 31, 2016
	Level 1		Level 2		Level 3		Gross Fair Value		Contract Netting(1)			Collateral/Margin Received or Paid			Recorded in Balance Sheet
Assets
Assets from price risk management	$	0.6	$	84.4	$	—	$	85.0	$	(67.8	)	$	(10.9	)	$	6.3
Suburban Propane Partners, L.P. units(2)	4.3		—		—		4.3		—			—			4.3
Total assets at fair value	$	4.9	$	84.4	$	—	$	89.3	$	(67.8	)	$	(10.9	)	$	10.6
Liabilities
Liabilities from price risk management	$	2.7	$	90.2	$	—	$	92.9	$	(67.8	)	$	3.5		$	28.6
Total liabilities at fair value	$	2.7	$	90.2	$	—	$	92.9	$	(67.8	)	$	3.5		$	28.6

(1) Amounts represent the impact of legally enforceable master netting agreements that allow us to settle positive and negative positions as well as cash collateral held or placed with the same counterparties.

(2) Amount is reflected in other assets on CEQP’s consolidated balance sheets.