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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2018
Fair Value Disclosures [Abstract] |
Fair value of assets measured on recurring basis | Our financial instruments measured at fair value on a recurring basis at December 31, 2018, were as follows:
| Total |  | Level 1 |  | Level 2 |  | Level 3
| (In millions)
Corporate debt securities | $ | 1,123 |  |  | $ | — |  |  | $ | 1,123 |  |  | $ | — |
U.S. Treasury notes | 181 |  |  | — |  |  | 181 |  |  | — |
Government-sponsored enterprise securities (GSEs) | 163 |  |  | — |  |  | 163 |  |  | — |
Municipal securities | 114 |  |  | — |  |  | 114 |  |  | — |
Asset-backed securities | 82 |  |  | — |  |  | 82 |  |  | — |
Certificates of deposit | 14 |  |  | — |  |  | 14 |  |  | — |
Other | 4 |  |  | — |  |  | 4 |  |  | — |
Subtotal - current investments | 1,681 |  |  | — |  |  | 1,681 |  |  | — |
1.125% Call Option derivative asset | 476 |  |  | — |  |  | — |  |  | 476 |
Total assets | $ | 2,157 |  |  | $ | — |  |  | $ | 1,681 |  |  | $ | 476 |
1.125% Conversion Option derivative liability | $ | 476 |  |  | $ | — |  |  | $ | — |  |  | $ | 476 |
Total liabilities | $ | 476 |  |  | $ | — |  |  | $ | — |  |  | $ | 476 |
Our financial instruments measured at fair value on a recurring basis at December 31, 2017, were as follows:
| Total |  | Level 1 |  | Level 2 |  | Level 3
| (In millions)
Corporate debt securities | $ | 1,588 |  |  | $ | — |  |  | $ | 1,588 |  |  | $ | — |
U.S. Treasury notes | 388 |  |  | — |  |  | 388 |  |  | — |
GSEs | 253 |  |  | — |  |  | 253 |  |  | — |
Municipal securities | 141 |  |  | — |  |  | 141 |  |  | — |
Asset-backed securities | 117 |  |  | — |  |  | 117 |  |  | — |
Certificates of deposit | 37 |  |  | — |  |  | 37 |  |  | — |
Subtotal - current investments | 2,524 |  |  | — |  |  | 2,524 |  |  | — |
Corporate debt securities | 101 |  |  | — |  |  | 101 |  |  | — |
U.S. Treasury notes | 68 |  |  | — |  |  | 68 |  |  | — |
Subtotal - current restricted investments | 169 |  |  | — |  |  | 169 |  |  | — |
1.125% Call Option derivative asset | 522 |  |  | — |  |  | — |  |  | 522 |
Total assets | $ | 3,215 |  |  | $ | — |  |  | $ | 2,693 |  |  | $ | 522 |
1.125% Conversion Option derivative liability | $ | 522 |  |  | $ | — |  |  | $ | — |  |  | $ | 522 |
Total liabilities | $ | 522 |  |  | $ | — |  |  | $ | — |  |  | $ | 522 |
Fair value measurements of senior notes |
| December 31, 2018 |  | December 31, 2017
| Carrying |  | Fair Value |  | Carrying |  | Fair Value
| Amount |  |  | Amount |
| (In millions)
5.375% Notes | $ | 694 |  |  | $ | 674 |  |  | $ | 692 |  |  | $ | 730 |
4.875% Notes | 326 |  |  | 301 |  |  | 325 |  |  | 329 |
1.125% Convertible Notes (1),(2) | 240 |  |  | 732 |  |  | 496 |  |  | 1,052 |
Credit Facility (2) | — |  |  | — |  |  | 300 |  |  | 300 |
1.625% Convertible Notes (2) | — |  |  | — |  |  | 157 |  |  | 220 |
| $ | 1,260 |  |  | $ | 1,707 |  |  | $ | 1,970 |  |  | $ | 2,631 |
_______________________________
(1) | The fair value of the 1.125% Conversion Option derivative liability (the embedded cash conversion option), which is included in the fair value amounts presented above, amounted to $476 million and $522 million as of December 31, 2018 and 2017, respectively. See further discussion at Note 11, “Debt,” and Note 12, “Derivatives.”
(2) | For more information on debt repayments in the year ended December 31, 2018, refer to Note 11, “Debt.”

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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=99377789&loc=SL7498348-110258 Reference 4: 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 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets, 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). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 Reference 2: 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 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99377789&loc=d3e19207-110258 + Details
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