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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Values of Certain Financial Liabilities

The fair value of certain financial liabilities is shown below (in millions):

 

 

 

March 31, 2022

 

 

December 31, 2021

 

 

 

Carrying
Amount

 

 

Fair Value

 

 

Carrying
Amount

 

 

Fair Value

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Senior notes (Level 1)

 

$

3,111

 

 

$

3,056

 

 

$

3,109

 

 

$

3,255

 

Credit facility (Level 2)

 

 

991

 

 

 

1,000

 

 

 

1,673

 

 

 

1,683

 

Mortgage debt (Level 2)

 

 

104

 

 

 

102

 

 

 

104

 

 

 

105