Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Measurements

Recurring Fair Value Measurements

	Fair Value as of September 30, 2014
	Level 1		Level 2		Level 3		Total
	(In thousands)
Assets:
Short-term investments:
Available-for-sale equity securities (energy industry)	$	60,006	$	340	$	—	$	60,346
Available-for-sale debt securities:
Mortgage-CMO debt securities	—		19		—		19
Total short-term investments	$	60,006	$	359	$	—	$	60,365

Fair Value of Financial Instruments

	September 30, 2014				December 31, 2013
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
2.35% senior notes due September 2016	$	349,870	$	357,242	$	349,820	$	354,694
6.15% senior notes due February 2018	948,900		1,074,186		969,928		1,097,480
9.25% senior notes due January 2019	339,607		426,835		339,607		428,733
5.00% senior notes due September 2020	698,177		768,607		697,947		731,955
4.625% senior notes due September 2021	698,328		755,300		698,148		709,793
5.10% senior notes due September 2023	348,861		380,114		348,765		349,731
Subsidiary preferred stock (1)	—		—		69,188		69,000
Revolving credit facility	100,000		100,000		170,000		170,000
Commercial paper	771,374		771,374		329,844		329,844
Other	215		215		10,243		10,243
Total	$	4,255,332	$	4,633,873	$	3,983,490	$	4,251,473

(1) We redeemed all outstanding subsidiary preferred stock during the second quarter of 2014.  See Note 8 — Subsidiary Preferred Stock for additional discussion.