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Fair Value Measurements
 6 Months Ended
Jun. 30, 2025
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):
June 30, 2025December 31, 2024
Carrying Value  Estimated Fair Value  Carrying ValueEstimated Fair Value  
2030 Second Lien Notes (1)
$1,084.3 $1,130.1 $1,082.7 $1,112.7 
Notes Receivable from ARO (2)
$308.5 $379.4 $296.2 $378.3 

(1)The estimated fair value of the 2030 Second Lien Notes (as defined in "Note 8 - Debt") was determined using quoted market prices, which are level 1 inputs.
(2)The estimated fair value of the 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 June 30, 2025 and December 31, 2024.