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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Fair Value of Certain Financial Instrument and Hierarchy Level Used to Estimate Fair Values

The fair value of certain financial instruments and the hierarchy level we used to estimate fair values are shown below:

 

 

 

 

 

 

 

September 30, 2017

 

 

December 31, 2016

 

 

 

Hierarchy

Level

 

 

Carrying

Amount

 

 

Fair Value

 

 

Carrying

Amount

 

 

Fair Value

 

 

 

 

 

 

 

(in millions)

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SF CMBS Loan

 

 

3

 

 

$

725

 

 

$

724

 

 

$

725

 

 

$

725

 

HHV CMBS Loan

 

 

3

 

 

 

1,275

 

 

 

1,260

 

 

 

1,275

 

 

 

1,275

 

Term Loan

 

 

3

 

 

 

750

 

 

 

747

 

 

 

750

 

 

 

750

 

Mortgage loans

 

 

3

 

 

 

207

 

 

 

204

 

 

 

207

 

 

 

208

 

Unsecured notes

 

 

1

 

 

 

55

 

 

 

55

 

 

 

55

 

 

 

57