Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Measurements

Recurring Fair Value Measurements

	Fair Value as of June 30, 2014
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Short-term investments:
Available-for-sale equity securities (energy industry)	$	74,504	$	862	$	—	$	75,366
Available-for-sale debt securities:
Mortgage-CMO debt securities	—		20		—		20
Total short-term investments	$	74,504	$	882	$	—	$	75,386

Fair Value of Financial Instruments

	June 30, 2014				December 31, 2013
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
2.35% senior notes due September 2016	$	349,853	$	358,596	$	349,820	$	354,694
6.15% senior notes due February 2018	970,541		1,113,255		969,928		1,097,480
9.25% senior notes due January 2019	339,607		434,405		339,607		428,733
5.00% senior notes due September 2020	698,100		785,883		697,947		731,955
4.625% senior notes due September 2021	698,268		756,623		698,148		709,793
5.10% senior notes due September 2023	348,829		385,284		348,765		349,731
Subsidiary preferred stock (1)	—		—		69,188		69,000
Revolving credit facility	110,000		110,000		170,000		170,000
Commercial paper	441,072		441,072		329,844		329,844
Other	227		227		10,243		10,243
Total	$	3,956,497	$	4,385,345	$	3,983,490	$	4,251,473

(1) We redeemed all outstanding subsidiary preferred stock during the current quarter.  See Note 8 — Subsidiary Preferred Stock for additional discussion.