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Derivatives Hedges and Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2022
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Summary of Financial Instruments

At June 30, 2022 and December 31, 2021, we did not have any financial instruments with fair values materially different from their carrying amounts (which excludes issuance costs, if applicable) except for our Senior Secured Notes included in the table below. The carrying value of our Senior Secured Notes approximates fair value and is classified as a Level 2 fair value measurement. The fair value of financial instruments is not indicative of the overall fair value of our assets and liabilities since financial instruments do not include all assets, including intangibles and all liabilities.

 

 

June 30, 2022

 

 

December 31, 2021

 

 

 

Carrying

 

 

Estimated

 

 

Carrying

 

 

Estimated

 

 

 

Amount

 

 

Fair Value

 

 

Amount

 

 

Fair Value

 

 

 

(In Millions)

 

Senior Secured Notes (1)

 

$

700

 

 

$

627

 

 

$

500

 

 

$

516

 

 

(1)

Based on a quoted price of 89.50 at June 30, 2022 and 103.25 at December 31, 2021.