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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 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 as of December 31, 2019 and 2018 (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 December 31, 2019
 

 
 

 
 

 
 

Supplemental executive retirement plan assets
$
26.0

 
$
—

 
$
—

 
$
26.0

Derivatives, net
—

 
5.4

 
—

 
5.4

Total financial assets
$
26.0

 
$
5.4

 
$
—

 
$
31.4

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 debt instruments as of December 31, 2019 and 2018 were as follows (in millions):
 
 
December 31, 2019
 
December 31, 2018
 
 
Carrying
Value
 
Estimated
  Fair
Value
 
Carrying
Value
 
Estimated
  Fair
Value
6.875% Senior notes due 2020
 
$
124.8

 
$
117.3

 
$
127.5

 
$
121.6

4.70% Senior notes due 2021
 
113.2

 
95.5

 
112.7

 
101.8

4.875% Senior notes due 2022 (2)
 
599.2

 
460.5

 
—

 
—

3.00% Exchangeable senior notes due 2024 (1)
 
699.0

 
607.4

 
666.8

 
575.5

4.50% Senior notes due 2024
 
302.0

 
167.2

 
619.8

 
405.2

4.75% Senior notes due 2024 (2)
 
276.5

 
201.4

 
—

 
—

8.00% Senior notes due 2024
 
295.7

 
181.7

 
337.0

 
273.7

5.20% Senior notes due 2025
 
331.7

 
186.7

 
664.4

 
443.9

7.375% Senior notes due 2025 (2)
 
329.2

 
218.6

 
—

 
—

7.75% Senior notes due 2026
 
987.1

 
575.1

 
985.0

 
725.5

7.20% Debentures due 2027
 
111.7

 
70.0

 
149.3

 
109.1

7.875% Senior notes due 2040
 
373.3

 
153.5

 
375.0

 
223.2

5.40% Senior notes due 2042 (2)
 
262.8

 
194.4

 
—

 
—

5.75% Senior notes due 2044
 
973.3

 
450.0

 
972.9

 
566.3

5.85% Senior notes due 2044 (2)
 
268.8

 
194.8

 
—

 
—

Total debt
 
$
6,048.3

 
$
3,874.1

 
$
5,010.4

 
$
3,545.8

     Less: current maturities
 
124.8

 
—

 
—

 
—

Total long-term debt
 
$
5,923.5

 
$
3,874.1

 
$
5,010.4

 
$
3,545.8



(1) 
Our 2024 Convertible Notes were issued with a conversion feature. The 2024 Convertible Notes were separated into their liability and equity components on our 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 $838.3 million and $836.3 million as of December 31, 2019 and 2018, respectively. See "Note 7 - Debt" for additional information on this issuance.

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