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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2015
Fair Value Disclosures [Abstract]  
Schedule of financial assets and liabilities and other fair value measurements on a recurring basis
NEP’s financial assets and liabilities and other fair value measurements made on a recurring basis by fair value hierarchy level are as follows:
 
September 30, 2015
 
December 31, 2014
 
Level 1
 
Level 2
 
Total
 
Level 1
 
Level 2
 
Total
 
(millions)
Assets:
 
 
 
 
 
 
 
 
 
 
 
Cash equivalents
$
56

 
$
—

 
$
56

 
$
104

 
$
—

 
$
104

Interest rate swaps
—

 
—

 
—

 
—

 
2

 
2

Total assets
$
56

 
$
—

 
$
56

 
$
104

 
$
2

 
$
106

Liabilities:
 
 
 
 
 
 
 
 
 
 
 
Interest rate swaps
$
—

 
$
16

 
$
16

 
$
—

 
$
11

 
$
11

Total liabilities
$
—

 
$
16

 
$
16

 
$
—

 
$
11

 
$
11
Schedule of other financial instrument, carrying amounts and estimated fair values
The carrying amounts and estimated fair values of other financial instruments, excluding assets and liabilities which are recorded at fair value and disclosed above, are as follows:
 
September 30, 2015
 
December 31, 2014
 
Carrying
Value
 
Fair
Value
 
Carrying
Value
 
Fair
Value
 
(millions)
Notes receivable(a)
$
20

 
$
20

 
$
20

 
$
20

Long-term debt, including current maturities(b)
$
1,910

 
$
2,001

 
$
1,933

 
$
2,008

____________________
(a)
Fair value approximates carrying amount as they bear interest primarily at variable rates and have long-term maturities (Level 2) and are included in other non-current assets on the condensed consolidated balance sheets.
(b)
Fair value is estimated based on the borrowing rates as of each date for similar issues of debt with similar remaining maturities (Level 2).