XML 34 R29.htm IDEA: XBRL DOCUMENT v2.4.0.8
Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2014
Fair Value Measurements [Abstract]  
Carrying Amount And Estimated Fair Values Of Financial Instruments

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2014

 

December 31, 2013

 

Carrying

 

Fair

 

Carrying

 

Fair

 

Amount

 

Value

 

Amount

 

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

(in millions)

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

$

20 

 

$

20 

 

$

23 

 

$

23 

Credit facility

$

139 

 

$

139 

 

$

283 

 

$

283 

Senior notes

$

1,668 

 

$

1,957 

 

$

1,668 

 

$

1,796 

Derivative instruments

$

78 

 

$

78 

 

$

39 

 

$

39 

 

Summary Assets And Liabilities Measured At Fair Value On Recurring Basis

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2014

 

 

 

(in millions)

 

 

Fair Value Measurements Using:

 

 

 

 

 

Quoted Prices

 

Significant

 

 

 

 

 

 

 

 

in Active

 

Other

 

Significant

 

 

 

 

 

Markets

 

Observable Inputs

 

Unobservable Inputs

 

Assets (Liabilities)

 

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

at Fair Value

Derivative assets

 

$

–  

 

$

128 

 

$

18 

 

$

146 

Derivative liabilities

 

 

–  

 

 

(4)

 

 

(64)

 

 

(68)

Total

 

$

–  

 

$

124 

 

$

(46)

 

$

78 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2013

 

 

 

(in millions)

 

 

Fair Value Measurements Using:

 

 

 

 

 

Quoted Prices

 

Significant

 

 

 

 

 

 

 

 

in Active

 

Other

 

Significant

 

 

 

 

 

Markets

 

Observable Inputs

 

Unobservable Inputs

 

Assets (Liabilities)

 

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

at Fair Value

Derivative assets

 

$

–  

 

$

66 

 

$

13 

 

$

79 

Derivative liabilities

 

 

–  

 

 

(8)

 

 

(32)

 

 

(40)

Total

 

$

–  

 

$

58 

 

$

(19)

 

$

39 

 

Reconciliations For Change In Net Fair Value Of Derivative Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs (Level 3)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended

 

For the nine months ended

 

 

September 30,

 

September 30,

 

 

2014

 

2013

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(in millions)

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

(55)

 

$

(28)

 

$

(19)

 

$

–  

Total gains (losses):

 

 

   

 

 

 

 

 

 

 

 

 

Included in earnings

 

 

18 

 

 

 

 

(27)

 

 

(22)

Included in other comprehensive income

 

 

–  

 

 

–  

 

 

–  

 

 

–  

Purchases, issuances, and settlements:

 

 

   

 

 

   

 

 

   

 

 

   

Purchases

 

 

–  

 

 

–  

 

 

–  

 

 

–  

Issuances

 

 

–  

 

 

–  

 

 

–  

 

 

–  

Settlements

 

 

(9)

 

 

(2)

 

 

–  

 

 

(3)

Transfers into/out of Level 3

 

 

–  

 

 

–  

 

 

–  

 

 

–  

Balance at end of period

 

$

(46)

 

$

(25)

 

$

(46)

 

$

(25)

Change in gains (losses) included in earnings relating to derivatives still held as of September 30

 

$

 

$

 

$

(27)

 

$

(25)