Other Fair Value Information

The carrying amounts and estimated fair values of our principal financial instruments that are not recognized at fair value on a recurring basis are as follows (in thousands):



	December 31, 2015				December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value

Other Assets:
Notes and loans receivable (a)	$	488,690	$	490,208	$	213,174	$	217,171

Financial Liabilities:
Short-term borrowings (b)	310,659		310,659		12,000		12,000
Long-term debt (b)	7,407,594		7,299,405		8,527,929		8,806,700


(a)	Notes and loans receivable: The fair values are primarily measured using Level 2 and 3 inputs principally based on discounted future cash flows using market interest rates for similar instruments.


(b)	Short-term borrowings and long-term debt: The fair values of short term borrowings are estimated to be the carrying amount. The fair values of non-variable rate debt are estimated using quoted prices and estimated rates that would be available for debt with similar terms. The fair value of variable rate debt is estimated to be the carrying amount.