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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Fair Values of Certain Financial Assets and Financial Liabilities

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

 

 

 

March 31, 2023

 

 

December 31, 2022

 

 

 

Carrying
Amount

 

 

Fair Value

 

 

Carrying
Amount

 

 

Fair Value

 

Financial assets

 

 

 

 

 

 

 

 

 

 

 

 

Notes receivable (Level 2)

 

$

485

 

 

$

480

 

 

$

413

 

 

$

404

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

Senior notes (Level 1)

 

 

3,116

 

 

 

2,806

 

 

 

3,115

 

 

 

2,768

 

Credit facility (Level 2)

 

 

986

 

 

 

1,000

 

 

 

994

 

 

 

1,000

 

Mortgage debt (Level 2)

 

 

101

 

 

 

92

 

 

 

102

 

 

 

95