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Financial Instruments | 6 Months Ended
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Jun. 30, 2019
Fair Value Disclosures [Abstract] |
Financial Instruments | Note 15 - Financial instruments: The following table summarizes the valuation of our financial instruments recorded on a fair value basis as of December 31, 2018 and June 30, 2019.
|  | Fair Value Measurements |
|  |  |  |  |  | Quoted |  |  | Significant |  |  |  |  |
|  |  |  |  |  | prices in |  |  | other |  |  | Significant |
|  |  |  |  |  | active |  |  | observable |  |  | unobservable |
|  |  |  |  |  | markets |  |  | inputs |  |  | inputs |
|  | Total |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
|  | (In millions) |
Asset: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2018 - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noncurrent marketable securities (See Note 4) |  | $ | 3.4 |  |  | $ | 3.4 |  |  | $ | - |  |  | $ | - |
June 30, 2019 - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noncurrent marketable securities (See Note 4) |  | $ | 5.2 |  |  | $ | 5.2 |  |  | $ | - |  |  | $ | - |
Our earnings and cash flows are subject to fluctuations due to changes in currency exchange rates and interest rates. Our risk management policy allows for the use of derivative financial instruments to prudently manage exposure to currency exchange rates and interest rates. Derivatives that we use are primarily currency forward contracts and interest rate swaps. We have not entered into these contracts for trading or speculative purposes in the past, nor do we currently anticipate entering into such contracts for trading or speculative purposes in the future. The following table presents the financial instruments that are not carried at fair value but which require fair value disclosure:
|  | December 31, 2018 |  |  | June 30, 2019 |
|  | Carrying amount |  |  | Fair value |  |  | Carrying amount |  |  | Fair value |
|  | (In millions) |
Cash, cash equivalents and restricted cash |  | $ | 374.7 |  |  | $ | 374.7 |  |  | $ | 329.5 |  |  | $ | 329.5 |
Long-term debt - Fixed rate Senior Secured Notes |  |  | 452.4 |  |  |  | 412.9 |  |  |  | 449.7 |  |  |  | 454.6 |
Common stockholders' equity |  |  | 839.8 |  |  |  | 1,335.3 |  |  |  | 868.0 |  |  |  | 1,774.2 |
At June 30, 2019, the estimated market price of our Senior Secured Notes was €998 per €1,000 principal amount. The fair value of our Senior Secured Notes is based on quoted market prices; however, these quoted market prices represented Level 2 inputs because the markets in which the Senior Secured Notes trade are not active. The fair value of our common stockholders’ equity is based upon quoted market prices at each balance sheet date, which represent Level 1 inputs.

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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