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Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2012
Carrying Amounts and Estimated Fair Values of Company's Financial Instruments

The carrying amounts and estimated fair values of the Company’s financial instruments are presented in the table below.

 

    December 31, 2012     December 31, 2011  
    Carrying
Amount		     Estimated
Fair Value		     Carrying
Amount		     Estimated
Fair Value		  
    (in millions)  

Senior Notes(1)

     2,940        3,301        2,938        2,940   

Senior Subordinated Notes(1)

     —        —        498        513   

CODES(1)

     689        697        689        658   

Foreign currency forward contracts(2)

     5        5        1        1   

 

(1) 

The Company measures the fair value of its long-term debt using Level 2 inputs based primarily on current market yields for its existing debt traded in the secondary market.
(2) 

The Company measures the fair values of foreign currency forward contracts based on forward exchange rates. See Note 14 for additional disclosures regarding the notional amounts and fair values of foreign currency forward contracts.