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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Fair Values of Certain Financial Liabilities and Other Financial Instruments

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

 

 

 

March 31, 2021

 

 

December 31, 2020

 

 

 

Carrying

Amount

 

 

Fair Value

 

 

Carrying

Amount

 

 

Fair Value

 

Financial liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior notes (Level 1)

 

$

3,066

 

 

$

3,212

 

 

$

3,065

 

 

$

3,284

 

Credit facility (Level 2)

 

 

2,469

 

 

 

2,483

 

 

 

2,471

 

 

 

2,483