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Fair Value Measurements
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The carrying values and estimated fair values of certain of our financial instruments were as follows (in millions):
March 31, 2024December 31, 2023
Carrying Value  Estimated Fair Value  Carrying ValueEstimated Fair Value  
Second Lien Notes (1)
$1,080.1 $1,134.0 $1,079.3 $1,126.1 
Long-term notes receivable from ARO (2)
$289.3 $424.0 $282.3 $423.5 

(1)The estimated fair value of the 8.375% Senior Secured Second Lien Notes due 2030 (the "Second Lien Notes") was determined using quoted market prices, which are level 1 inputs.

(2)The estimated fair value of our Notes Receivable from ARO was estimated using an income approach to value the forecasted cash flows attributed to the Notes Receivable from ARO using a discount rate based on a comparable yield with a country-specific risk premium, which are considered to be level 2 inputs.

The estimated fair values of our cash and cash equivalents, restricted cash, accounts receivable and trade payables approximated their carrying values as of March 31, 2024 and December 31, 2023.