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Fair Value Measurements (Tables)
 9 Months Ended 12 Months Ended
Sep. 30, 2014
Dec. 31, 2013
Fair Value Measurements [Abstract]    
Schedule of the carrying amount and estimated fair value of the Company's financial instruments that are recorded at fair value on a recurring basis

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of September 30, 2014

 

 

 

 

 

 

 

 

 

 

Estimated Fair Value

 

 

 

 

 

 

 

 

 

 

Measurements

 

 

 

 

 

 

 

Quoted

 

Significant

 

 

 

 

 

 

 

 

 

 

Prices In

 

Other

 

Significant

 

 

 

 

 

 

 

Active

 

Observable

 

Unobservable

 

 

Statement of Financial

 

Carrying

 

Markets

 

Inputs

 

Inputs

(In millions)

 

Position Location

 

Value

 

(Level 1)

 

(Level 2)

 

(Level 3)

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation trust assets

 

Long-term marketable securities

 

$
9 

 

$
9 

 

$

 —

 

$

 —

Investments in marketable securities

 

Marketable securities and Long-term marketable securities

 

 
103 

 

 
55 

 

 
48 

 

 

 —

Total financial assets

 

 

 

$
112 

 

$
64 

 

$
48 

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Financial Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fuel swap contracts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

Other accrued liabilities

 

$
1 

 

$

 —

 

$

 —

 

$
1 

Total financial liabilities

 

 

 

$
1 

 

$

 —

 

$

 —

 

$
1 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2013

 

 

 

 

 

 

 

 

 

 

Estimated Fair Value

 

 

 

 

 

 

 

 

 

 

Measurements

 

 

 

 

 

 

 

Quoted

 

Significant

 

 

 

 

 

 

 

 

 

 

Prices In

 

Other

 

Significant

 

 

 

 

 

 

 

Active

 

Observable

 

Unobservable

 

 

Statement of Financial

 

Carrying

 

Markets

 

Inputs

 

Inputs

(In millions)

 

Position Location

 

Value

 

(Level 1)

 

(Level 2)

 

(Level 3)

Financial Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation trust assets

 

Long-term marketable securities

 

$
13 

 

$
13 

 

$

 —

 

$

 —

Investments in marketable securities

 

Marketable securities and Long-term marketable securities

 

 
136 

 

 
61 

 

 
75 

 

 

 —

Fuel swap contracts:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current

 

Prepaid expenses and other assets

 

 
1 

 

 

 —

 

 

 —

 

 
1 

Total financial assets

 

 

 

$
150 

 

$
74 

 

$
75 

 

$
1 

 

 

 

 
    
   As of December 31, 2013  
 
    
    
   Estimated Fair Value Measurements  
(In millions)
  Statement of Financial Position
Location		   Carrying
Value		   Quoted
Prices In
Active
Markets
(Level 1)		   Significant
Other
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		  

Financial Assets:

                              

Deferred compensation trust assets

   Long-term marketable securities   $ 9   $ 9   $ —   $ —  

Investments in marketable securities

   Marketable securities and Long-term marketable securities     136     61     75     —  

Fuel swap contracts:

                              

Current

   Prepaid expenses and other assets     1     —     —     1  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total financial assets

       $ 146   $ 70   $ 75   $ 1  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​


 

 
    
   As of December 31, 2012  
 
    
    
   Estimated Fair Value Measurements  
(In millions)
  Statement of Financial Position
Location		   Carrying
Value		   Quoted
Prices In
Active
Markets
(Level 1)		   Significant
Other
Observable
Inputs
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		  

Financial Assets:

                              

Deferred compensation trust assets

   Long-term marketable securities   $ 9   $ 9   $ —   $ —  

Investments in marketable securities

   Marketable securities and Long-term marketable securities     134     45     89     —  

Fuel swap contracts:

                              

Current

   Prepaid expenses and other assets     2     —     —     2  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total financial assets

       $ 145   $ 54   $ 89   $ 2  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Financial Liabilities:

                              

Interest rate swap contracts

   Other accrued liabilities(1)   $ 7   $ —   $ 7   $ —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total financial liabilities

       $ 7   $ —   $ 7   $ —  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

        
Schedule of reconciliation of the beginning and ending fair values of financial instruments valued using significant unobservable inputs (Level 3) on a recurring basis

 

 

 

 

 

 

 

 

 

 

Fuel Swap

 

 

Contract

 

 

Assets

(In millions)

 

(Liabilities)

Balance as of December 31, 2013

 

$
1 

Total gains (realized and unrealized)

 

 

 

Included in earnings

 

 

 —

Included in accumulated other comprehensive income

 

 
(2)

Settlements, net

 

 

 —

Balance as of September 30, 2014

 

$
(1)

 

 

 

 

Balance as of December 31, 2012

 

$
2 

Total gains (realized and unrealized)

 

 

 

Included in earnings

 

 
1 

Included in accumulated other comprehensive income

 

 
(2)

Settlements, net

 

 
(1)

Balance as of September 30, 2013

 

$

 —

 

:

(In millions)
  Fuel Swap
Contract
(Liabilities)
Assets		  

Balance as of December 31, 2011

   $ (1 )

Total gains (losses) (realized and unrealized):

        

Included in earnings

     2  

Included in accumulated other comprehensive income

     3  

Settlements, net

     (2 )
​ ​ ​ ​ ​

Balance as of December 31, 2012

     2  

Total gains (realized and unrealized):

        

Included in earnings

     1  

Included in accumulated other comprehensive income

     (1 )

Settlements, net

     (1 )
​ ​ ​ ​ ​

Balance as of December 31, 2013

   $ 1  
​ ​ ​ ​ ​
​ ​ ​ ​ ​
​ ​ ​ ​ ​
Schedule of Level 3 financial instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value

 

Valuation

 

 

 

 

 

Weighted

 

 

(in millions)

 

Technique

 

Unobservable Input

 

Range

 

Average

As of September 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

Fuel swap contracts

 

$
(1)

 

Discounted Cash Flows

 

Forward Unleaded Price per Gallon(1)

 

$3.14 - $3.99

 

$
3.61 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

Fuel swap contracts

 

$
1 

 

Discounted Cash Flows

 

Forward Unleaded Price per Gallon(1)

 

$3.20 - $3.87

 

$
3.60 

___________________________________

 

(1)

Forward prices per gallon were derived from third-party market data providers. A decrease in the forward price would result in a decrease in the fair value of the fuel swap contracts.

 

 

Item
  Fair Value as of
December 31, 2013
(in millions)		   Valuation Technique   Unobservable Input   Range   Weighted
Average		  

Fuel swap contracts

   $ 1   Discounted Cash Flows   Forward Unleaded Price per Gallon(1)   $3.20 - $3.87   $ 3.60  


 

Item
  Fair Value as of
December 31, 2012
(in millions)		   Valuation Technique   Unobservable Input   Range   Weighted
Average		  

Fuel swap contracts

   $ 2   Discounted Cash Flows   Forward Unleaded Price per Gallon(1)   $3.36 - $3.73   $ 3.55  

 

             Forward Diesel Price per Gallon(1)   $3.88 - $3.96   $ 3.90  
(1)
Forward price per gallon for unleaded and diesel were derived from third-party market data providers. A decrease in the forward price would result in a decrease in the fair value of the fuel swap contracts.

        
Schedule of effect of derivative instruments on the condensed consolidated statements of operations and comprehensive (loss) income and accumulated other comprehensive income (loss) on the condensed consolidated statements of financial position

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective Portion

 

 

 

 

Effective Portion

 

of Gain (Loss)

 

 

 

 

of (Loss) Gain

 

Reclassified from

 

 

 

 

Recognized in

 

Accumulated Other

 

 

(In millions)

 

Accumulated Other

 

Comprehensive

 

 

Derivatives designated as Cash Flow

 

Comprehensive

 

Income

 

 

Hedge Relationships

 

Income

 

Into Earnings

 

Location of Gain (Loss) included in Earnings

Nine Months Ended September 30, 2014:

 

 

 

 

 

 

 

 

Fuel swap contracts

 

$
(2)

 

$

 —

 

Cost of services rendered and products sold

 

 

 

 

 

 

 

 

 

Nine Months Ended September 30, 2013:

 

 

 

 

 

 

 

 

Fuel swap contracts

 

$
(2)

 

$
1 

 

Cost of services rendered and products sold

Interest rate swap contracts

 

$
5 

 

$
(5)

 

Interest expense

 

 

 

 
   Effective Portion of
Gain Recognized in
Accumulated Other
Comprehensive
Income (Loss)		   Effective Portion of Gain
(Loss) Reclassified from
Accumulated Other
Comprehensive Income
(Loss) into Earnings		    
(In millions)
Derivatives designated
as Cash Flow Hedge Relationships
  Location of Gain (Loss) included in
Earnings
  Year ended December 31, 2013

Fuel swap contracts

   $ (1 ) $ 1   Cost of services rendered and products sold

Interest rate swap contracts

   $ 5   $ (5 ) Interest expense


 

 
   Effective Portion of
Gain Recognized in
Accumulated Other
Comprehensive
Income (Loss)		   Effective Portion of Gain
(Loss) Reclassified from
Accumulated Other
Comprehensive Income
(Loss) into Income		    
 
   Location of (Loss) Gain included in
Income
Derivatives designated as Cash Flow
Hedge Relationships
  Year ended December 31, 2012

Fuel swap contracts

   $ 3   $ 2   Cost of services rendered and products sold

Interest rate swap contracts

   $ 17   $ (22 ) Interest expense