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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2015
Fair Value Disclosures [Abstract]  
Fair Value Derivative Instrument
Net liabilities measured at fair value on a recurring basis are summarized below (in millions):
 
March 31, 2015
Level 2
 
December 31, 2014 Level 2
Commodity Swaps*
$
17.4

 
$
21.7

Total
$
17.4

 
$
21.7

 
__________________________________________________
*                 The fair value of derivative contracts included in assets or liabilities for risk management activities represents the amount at which the instruments could be exchanged in a current arms-length transaction adjusted for credit risk of the Partnership and/or the counterparty as required under FASB ASC 820.
Fair Value Financial Instrument
Considerable judgment is required to develop the estimates of fair value; thus, the estimates provided below are not necessarily indicative of the amount the Partnership could realize upon the sale or refinancing of such financial instruments (in millions):
 
March 31, 2015
 
December 31, 2014
 
Carrying
Value
 
Fair
Value
 
Carrying Value
 
Fair
Value
Long-term debt
$
2,493.7

 
$
2,571.2

 
$
2,022.5

 
$
2,026.1

Obligations under capital leases
$
19.3

 
$
18.7

 
$
20.3

 
$
19.8