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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

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, 2020
Supplemental executive retirement plan assets	$	22.3			$	—			$	—			$	22.3
Total financial assets	22.3				—				—				22.3
Derivatives, net	—				(1.0		)		—				(1.0		)
Total financial liabilities	$	—			$	(1.0	)		$	—			$	(1.0	)
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

Schedule Of Carrying Values And Estimated Fair Values Of Debt Instruments

The carrying values and estimated fair values of our debt instruments were as follows (in millions):

	June 30, 2020								December 31, 2019
	Carrying Value				Estimated Fair Value				Carrying Value				Estimated Fair Value
6.875% Senior notes due 2020	$	123.4			$	9.7			$	124.8			$	117.3
4.70% Senior notes due 2021	100.5				7.1				113.2				95.5
4.875% Senior notes due 2022	603.3				69.2				599.2				460.5
3.00% Exchangeable senior notes due 2024(1)	716.2				124.0				699.0				607.4
4.50% Senior notes due 2024	302.1				26.3				302.0				167.2
4.75% Senior notes due 2024	280.8				33.5				276.5				201.4
8.00% Senior notes due 2024	295.4				19.4				295.7				181.7
5.20% Senior notes due 2025	331.9				28.1				331.7				186.7
7.375% Senior notes due 2025	331.4				37.2				329.2				218.6
7.75% Senior notes due 2026	988.2				82.6				987.1				575.1
7.20% Debentures due 2027	111.7				15.7				111.7				70.0
7.875% Senior notes due 2040	372.3				22.1				373.3				153.5
5.40% Senior notes due 2042	263.7				42.3				262.8				194.4
5.75% Senior notes due 2044	974.4				76.4				973.3				450.0
5.85% Senior notes due 2044	269.5				44.6				268.8				194.8
Amounts borrowed under credit facility(2)	545.5				551.0				—				—
Total debt	$	6,610.3			$	1,189.2			$	6,048.3			$	3,874.1
Less: current maturities	2,518.1				794.6				124.8				117.3
Total long-term debt	$	4,092.2			$	394.6			$	5,923.5			$	3,756.8

⁽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 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 $839.9 million and $838.3 million as of June 30, 2020 and December 31, 2019, respectively.

⁽²⁾  Total outstanding borrowings under our credit facility are $551.0 million and are recorded net of $5.5 million of unamortized deferred financing cost on our condensed consolidated balance sheet. In addition, we have $37.8 million in letters of credit issued under our credit facility, leaving $1.0 billion of undrawn borrowing capacity at June 30, 2020.

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611

Reference 2: 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=117815213&loc=d3e19207-110258

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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