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Fair Value Measurements
 12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements:
Our financial assets and liabilities that are measured at fair value on a recurring basis are as follows (in millions):
  Fair Value Measurements at Reporting Date Using
As of December 31, 2021Fair ValueQuoted Prices in Active Markets for Identical Assets
(Level 1)		Significant Other Observable Inputs
(Level 2)		Significant Unobservable Inputs
(Level 3)
Valuation Technique (1)
Other long-term assets:     
Equity securities$82.2 $4.1 $78.1 $— M
Redeemable noncontrolling interests42.2 — — 42.2 I
As of December 31, 2020     
Other long-term assets:     
Equity securities$72.6 $— $72.6 $— M
Redeemable noncontrolling interests31.6 — — 31.6 I
(1)The three valuation techniques are: market approach (M), cost approach (C), and income approach (I).
In addition, there are assets and liabilities that are not required to be measured at fair value on a recurring basis. However, these assets may be recorded at fair value as a result of impairment charges or other adjustments made to the carrying value of the applicable assets.
As a result of our consolidation of certain joint venture entities and the remeasurement of our previously held equity interest at fair value, we recorded gains of $3.2 million, $2.2 million, and $19.2 million as part of Other income during the years ended December 31, 2021, 2020, and 2019, respectively. We determined the fair value of our previously held equity interest using the income approach valuation technique. The income approach included the use of the hospital's or agency’s projected operating results and cash flows discounted using a rate that reflects market participant assumptions for the hospital or agency. The projected operating results use management's best estimates of economic and market conditions over the forecasted period including assumptions for pricing and volume, operating expenses, and capital expenditures. See Note 2, Business Combinations and Note 9, Investments in and Advances to Nonconsolidated Affiliates for additional information.
As discussed in Note 1, Summary of Significant Accounting Policies, “Fair Value Measurements,” the carrying value equals fair value for our financial instruments that are not included in the table below and are classified as current in our consolidated balance sheets. The carrying amounts and estimated fair values for our other financial instruments are presented in the following table (in millions):
 As of December 31, 2021As of December 31, 2020
 Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
Long-term debt:    
Advances under revolving credit facility$200.0 $200.0 $— $— 
Term loan facilities238.5 239.6 251.6 253.1 
5.125% Senior Notes due 2023
99.6 100.2 298.1 302.6 
5.75% Senior Notes due 2025
347.0 357.9 346.3 361.4 
4.50% Senior Notes due 2028
786.8 823.0 785.0 840.0 
4.75% Senior Notes due 2030
784.7 824.0 783.2 856.0 
4.625% Senior Notes due 2031
393.7 407.0 393.2 424.9 
Other notes payable49.6 49.6 39.8 39.8 
Financial commitments:    
Letters of credit— 38.2 — 36.7 
Fair values for our long-term debt and financial commitments are determined using inputs, including quoted prices in nonactive markets, that are observable either directly or indirectly, or Level 2 inputs within the fair value hierarchy. See Note 1, Summary of Significant Accounting Policies, “Fair Value Measurements” and “Redeemable Noncontrolling Interests.”