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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
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 June 30, 2022 and December 31, 2021 (in millions):
June 30, 2022
Level 1Level 2Level 3Gross Fair Value
Contract Netting(1)
Collateral/Margin Received or PaidFair Value
Assets
Assets from price risk management$42.5 $512.2 $— $554.7 $(474.5)$(46.0)$34.2 
Other investments(2)
2.3 — — 2.3 — — 2.3 
Total assets at fair value$44.8 $512.2 $— $557.0 $(474.5)$(46.0)$36.5 
Liabilities
Liabilities from price risk management$55.6 $504.4 $— $560.0 $(474.5)$(3.2)$82.3 
Total liabilities at fair value$55.6 $504.4 $— $560.0 $(474.5)$(3.2)$82.3 
December 31, 2021
Level 1Level 2Level 3Gross Fair Value
Contract Netting(1)
Collateral/Margin Received or PaidFair Value
Assets
Assets from price risk management$33.3 $695.6 $— $728.9 $(607.4)$(79.4)$42.1 
Other investments(2)
2.2 — — 2.2 — — 2.2 
Total assets at fair value$35.5 $695.6 $— $731.1 $(607.4)$(79.4)$44.3 
Liabilities
Liabilities from price risk management$26.9 $686.3 $— $713.2 $(607.4)$8.8 $114.6 
Total liabilities at fair value$26.9 $686.3 $— $713.2 $(607.4)$8.8 $114.6 

(1)Amounts represent the impact of legally enforceable master netting agreements that allow us to settle positive and negative positions.
(2)Amount primarily relates to our investment in Suburban Propane Partners, L.P. units which is reflected in other non-current assets on CEQP’s consolidated balance sheets.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments The following table represents the carrying amount (reduced for deferred financing costs associated with the respective notes) and fair value of our senior notes (in millions):
June 30, 2022December 31, 2021
Carrying
 Amount
Fair
Value
Carrying
 Amount
Fair
Value
2025 Senior Notes$497.1 $471.1 $496.5 $511.9 
2027 Senior Notes$594.8 $537.0 $594.2 $615.0 
February 2029 Senior Notes$691.5 $614.5 $690.8 $727.3 
April 2029 Senior Notes(1)
$478.9 $420.3 $— $— 
(1)Represents $450 million of unsecured senior notes assumed in conjunction with the merger with Oasis Midstream discussed in Note 3, and the related net fair value adjustment which is further described in Note 8.