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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Schedule Of Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis
The following fair value hierarchy table categorizes information regarding our financial assets and liabilities measured at fair value on a recurring basis (in millions):
 
Quoted Prices in Active Markets for Identical Assets
(Level 1)
 
Significant Other Observable Inputs
(Level 2)
 
Significant Unobservable Inputs
(Level 3)
 
Total
As of June 30, 2019
 
 
 

 
 

 
 

Supplemental executive retirement plan assets 
$
26.2

 
$
—

 
$
—

 
$
26.2

Total financial assets
$
26.2

 
$
—

 
$
—

 
$
26.2

Derivatives, net
$
—

 
$
(4.3
)
 
$
—

 
$
(4.3
)
Total financial liabilities
$
—

 
$
(4.3
)
 
$
—

 
$
(4.3
)
 
 
 
 
 
 
 
 
As of December 31, 2018
 
 
 

 
 

 
 

Supplemental executive retirement plan assets
$
27.2

 
$
—

 
$
—

 
$
27.2

Total financial assets
$
27.2

 
$
—

 
$
—

 
$
27.2

Derivatives, net 
$
—

 
$
(10.7
)
 
$
—

 
$
(10.7
)
Total financial liabilities
$
—

 
$
(10.7
)
 
$
—

 
$
(10.7
)
Schedule Of Carrying Values And Estimated Fair Values Of Debt Instruments
The carrying values and estimated fair values of our long-term debt instruments were as follows (in millions):
 
June 30,
2019
 
December 31,
2018
 
Carrying Value  
 
Estimated Fair Value  
 
Carrying Value  
 
Estimated Fair Value  
7.875% Senior notes due 2019(2)
$
202.0

 
$
201.9

 
$
—

 
$
—

6.875% Senior notes due 2020
126.2

 
122.4

 
127.5

 
121.6

4.70% Senior notes due 2021
113.0

 
105.8

 
112.7

 
101.8

4.875% Senior notes due 2022(2)
595.0

 
572.6

 
—

 
—

3.00% Exchangeable senior notes due 2024(1)
682.8

 
666.4

 
666.8

 
575.5

4.50% Senior notes due 2024
620.1

 
467.7

 
619.8

 
405.2

4.75% Senior notes due 2024(2)
339.5

 
304.0

 
—

 
—

8.00% Senior notes due 2024
336.5

 
282.2

 
337.0

 
273.7

7.375% Senior notes due 2025(2)
452.5

 
388.3

 
—

 
—

5.20% Senior notes due 2025
664.8

 
494.1

 
664.4

 
443.9

7.75% Senior notes due 2026
986.1

 
750.7

 
985.0

 
725.5

7.20% Debentures due 2027
149.4

 
114.8

 
149.3

 
109.1

7.875% Senior notes due 2040
374.2

 
205.9

 
375.0

 
223.2

5.40% Senior notes due 2042(2)
261.9

 
237.9

 
—

 
—

5.75% Senior notes due 2044
973.4

 
585.9

 
972.9

 
566.3

5.85% Senior notes due 2044(2)
268.0

 
233.8

 
—

 
—

Total debt
$
7,145.4

 
$
5,734.4

 
$
5,010.4

 
$
3,545.8

Less: current maturities
1,125.3

 
921.2

 
—

 
—

Total long-term debt
$
6,020.1


$
4,813.2


$
5,010.4


$
3,545.8



(1)  
Our exchangeable senior notes due 2024 (the "2024 Convertible Notes") were issued with a conversion feature. The 2024 Convertible Notes were separated into their liability and equity components on our condensed consolidated balance sheet. The equity component was initially recorded to additional paid-in capital and as a debt discount that will be amortized to interest expense over the life of the instrument. Excluding the unamortized discount, the carrying value of the 2024 Convertible Notes was $837.4 million and $836.3 million as of June 30, 2019 and December 31, 2018, respectively.

(2) 
These senior notes were assumed by Valaris as a result of the Rowan Transaction.