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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2023
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on a Recurring Basis | 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 June 30, 2023 | Fair Value |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Valuation Technique (1)
Equity securities (2) | $ | 114.3 |  |  | $ | 3.8 |  |  | $ | 110.5 |  |  | $ | — |  |  | M
Redeemable noncontrolling interests | 39.3 |  |  | — |  |  | — |  |  | 39.3 |  |  | I
As of December 31, 2022 |  |  |  |  |  |  |  |  |
Equity securities (2) | $ | 110.0 |  |  | $ | 3.7 |  |  | $ | 106.3 |  |  | $ | — |  |  | M
Redeemable noncontrolling interests | 35.6 |  |  | — |  |  | — |  |  | 35.6 |  |  | I
(1) The three valuation techniques are: market approach (M), cost approach (C), and income approach (I). (2) As of June 30, 2023, $33.0 million are included in Other current assets and $81.3 million are included in Other long-term assets in the condensed consolidated balance sheet. As of December 31, 2022, $30.9 million are included in Other current assets and $79.1 million are included in Other long-term assets in the condensed consolidated balance sheet.
Schedule of Carrying Amounts and Estimated Fair Values, Financial Instruments | The carrying amounts and estimated fair values for all of our other financial instruments are presented in the following table (in millions):
| As of June 30, 2023 |  | As of December 31, 2022
| Carrying Amount |  | Estimated Fair Value |  | Carrying Amount |  | Estimated Fair Value
Long-term debt: |  |  |  |  |  |  |
Advances under revolving credit facility | $ | — |  |  | $ | — |  |  | $ | 55.0 |  |  | $ | 55.0 |
5.75% Senior Notes due 2025 | 348.1 |  |  | 347.4 |  |  | 347.7 |  |  | 347.7 |
4.50% Senior Notes due 2028 | 783.4 |  |  | 745.5 |  |  | 781.8 |  |  | 726.7 |
4.75% Senior Notes due 2030 | 780.2 |  |  | 733.3 |  |  | 779.0 |  |  | 703.7 |
4.625% Senior Notes due 2031 | 391.0 |  |  | 356.0 |  |  | 390.6 |  |  | 342.2 |
Other notes payable | 67.4 |  |  | 67.4 |  |  | 53.1 |  |  | 53.1 |
Financial commitments: |  |  |  |  |  |  |
Letters of credit | — |  |  | 33.9 |  |  | — |  |  | 32.7 |

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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. + References No definition available. + Details
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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://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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