Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Estimated Fair Value of Financial Instruments, by Balance Sheet Grouping

The fair value of financial instruments has been estimated by the Company using available market information as of September 30, 2022 and December 31, 2021, and valuation methodologies considered appropriate. The estimates presented in the table below are not necessarily indicative of amounts the Company could realize in a current market exchange (in millions):

	September 30, 2022				December 31, 2021
	Carrying		Estimated Fair		Carrying		Estimated Fair
	Amount		Value		Amount		Value
Assets:
Cash and cash equivalents	$	300	$	300	$	507	$	507
Investments in equity securities		104		104		144		144
Available-for-sale debt securities		172		172		178		178
Trading securities		12		12		13		13
Liabilities:
6⅝% Senior Secured Notes due 2025		—		—		1,434		1,517
8% Senior Secured Notes due 2026		2,082		1,827		2,078		2,210
8% Senior Secured Notes due 2027		693		556		692		758
5⅝% Senior Secured Notes due 2027		1,829		1,469		1,819		2,011
6⅞% Senior Notes due 2028		749		359		759		758
6% Senior Secured Notes due 2029		864		661		860		966
5¼% Senior Secured Notes due 2030		1,446		1,067		—		—
4¾% Senior Secured Notes due 2031		1,053		710		1,090		1,108
6⅞% Junior-Priority Secured Notes due 2029		1,536		828		1,625		1,823
6⅛% Junior-Priority Secured Notes due 2030		1,255		642		1,352		1,431
ABL Facility and other debt		31		31		32		32