Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2015

Schedule of fair value of liabilities measured on a recurring basis

The table below presents the fair values for the Company’s long-term debt as well as the input levels used to determine these fair values as of March 31, 2015 and December 31, 2014:



					Fair Value Measurement Using
	Total Carrying Value in Consolidated Balance Sheets				Unadjusted Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)				Significant Other Observable Inputs (Level 2)
(dollars in millions)	March 31, 2015		December 31, 2014		March 31, 2015		December 31, 2014		March 31, 2015		December 31, 2014
Liabilities Not Recorded at Fair Value in the Financial Statements:
Long-term Debt, including the current portion:
Term Loans	$	4,591	$	4,590	$	4,633	$	4,593	$	—	$	—
Senior Notes	6,703		6,203		7,022		6,481		—		—
Convertible Notes	—		333		—		—		—		868
Capital Leases and Other	206		207		—		—		206		207
Total Long-term Debt, including the current portion	$	11,500	$	11,333	$	11,655	$	11,074	$	206	$	1,075

The Company does not have any assets or liabilities where the fair value is measured using significant unobservable inputs (Level 3).

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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