XML 46 R30.htm IDEA: XBRL DOCUMENT v3.3.1.900
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2016
Fair Value Measurements [Abstract]  
Carrying Amount And Estimated Fair Values Of Financial Instruments



 

 

 

 

 

 

 

 

 

 

 



March 31, 2016

 

December 31, 2015



Carrying

 

Fair

 

Carrying

 

Fair



Amount

 

Value

 

Amount

 

Value



(in millions)

Cash and cash equivalents

$

1,597 

 

$

1,597 

 

$

15 

 

$

15 

Credit facility

 

1,852 

 

 

1,852 

 

 

116 

 

 

116 

Term loan facility

 

748 

 

 

748 

 

 

747 

 

 

747 

Senior notes

 

3,843 

 

 

2,729 

 

 

3,842 

 

 

2,651 

Derivative instruments, net

 

(23)

 

 

(23)

 

 

(2)

 

 

(2)



Summary Of Assets And Liabilities Measured At Fair Value On Recurring Basis



 

 

 

 

 

 

 

 

 

 

 

 



 

March 31, 2016



 

Fair Value Measurements Using:

 

 

 



 

Quoted Prices

 

Significant

 

Significant

 

 

 



 

in Active

 

Other

 

Unobservable

 

 



 

Markets

 

Observable Inputs

 

Inputs

 

Assets (Liabilities)



 

(Level 1)

 

(Level 2)

 

(Level 3)

 

at Fair Value

Fixed price swap assets

 

$

–  

 

$

20 

 

$

–  

 

$

20 

Purchased put option assets

 

 

–  

 

 

–  

 

 

15 

 

 

15 

Interest rate swap liabilities

 

 

–  

 

 

(8)

 

 

–  

 

 

(8)

Sold call option liabilities

 

 

–  

 

 

–  

 

 

(50)

 

 

(50)

Total

 

$

–  

 

$

12 

 

$

(35)

 

$

(23)



 

 

 



 

December 31, 2015



 

Fair Value Measurements Using:

 

 

 



 

Quoted Prices

 

Significant

 

Significant

 

 

 



 

in Active

 

Other

 

Unobservable

 

 

 



 

Markets

 

Observable Inputs

 

Inputs

 

Assets (Liabilities)



 

(Level 1)

 

(Level 2)

 

(Level 3)

 

at Fair Value

Basis swap assets

 

$

–  

 

$

–  

 

$

 

$

Interest rate swap liabilities

 

 

–  

 

 

(5)

 

 

–  

 

 

(5)

Total

 

$

–  

 

$

(5)

 

$

 

$

(2)



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



 

March 31,



 

2016

 

2015



 

(in millions)

Balance at beginning of period

 

$

 

$

(8)

Total gains (losses):

 

 

   

 

 

 

Included in earnings

 

 

(34)

 

 

(6)

Purchases, issuances, and settlements:

 

 

   

 

 

   

Settlements

 

 

(4)

 

 

Transfers into/out of Level 3

 

 

–  

 

 

–  

Balance at end of period

 

$

(35)

 

$

(8)

Change in losses included in earnings relating to derivatives still held as of March 31

 

$

(38)

 

$

–