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Fair Value (Tables)

12 Months Ended

Dec. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables present financial assets and liabilities measured and recorded at fair value on our Consolidated Balance Sheets on a recurring basis and their level within the fair value hierarchy as of December 31, 2018 and December 31, 2017:

Recurring Fair Value Measurements December 31, 2018 (in millions)	Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Balance as of December 31, 2018
Assets
Risk management assets	$	—			$	24.0			$	—			$	24.0
Available-for-sale securities	—				138.3				—				138.3
Total	$	—			$	162.3			$	—			$	162.3
Liabilities
Risk management liabilities	$	—			$	51.7			$	—			$	51.7
Total	$	—			$	51.7			$	—			$	51.7

Recurring Fair Value Measurements December 31, 2017 (in millions)	Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Balance as of December 31, 2017
Assets
Risk management assets	$	—			$	21.1			$	—			$	21.1
Available-for-sale securities	—				133.9				—				133.9
Total	$	—			$	155.0			$	—			$	155.0
Liabilities
Risk management liabilities	$	—			$	71.4			$	0.3			$	71.7
Total	$	—			$	71.4			$	0.3			$	71.7

Available-For-Sale Debt Securities

The amortized cost, gross unrealized gains and losses and fair value of available-for-sale securities at December 31, 2018 and 2017 were:

December 31, 2018 (in millions)	Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Available-for-sale securities
U.S. Treasury debt securities	$	23.6			$	0.1			$	(0.1	)		$	23.6
Corporate/Other debt securities	117.7				0.4				(3.4		)		114.7
Total	$	141.3			$	0.5			$	(3.5	)		$	138.3
December 31, 2017 (in millions)	Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Available-for-sale securities
U.S. Treasury debt securities	$	26.9			$	—			$	(0.1	)		$	26.8
Corporate/Other debt securities	106.8				0.9				(0.6		)		107.1
Total	$	133.7			$	0.9			$	(0.7	)		$	133.9

Carrying Amount And Estimated Fair Values Of Financial Instruments

The carrying amount and estimated fair values of these financial instruments were as follows:

At December 31, (in millions)	Carrying Amount 2018				Estimated Fair Value 2018				Carrying Amount 2017				Estimated Fair Value 2017
Long-term debt (including current portion)	$	7,155.4			$	7,228.3			$	7,796.5			$	8,603.4

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- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19190-110258

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