Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023 and December 31, 2022, 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):

	March 31, 2023				December 31, 2022
	Carrying		Estimated Fair		Carrying		Estimated Fair
	Amount		Value		Amount		Value
Assets:
Cash and cash equivalents	$	144	$	144	$	118	$	118
Investments in equity securities		78		78		107		107
Available-for-sale debt securities		180		180		179		179
Trading securities		5		5		5		5
Liabilities:
8% Senior Secured Notes due 2026		2,084		2,032		2,083		1,917
8% Senior Secured Notes due 2027		694		678		693		631
5⅝% Senior Secured Notes due 2027		1,836		1,672		1,833		1,633
6⅞% Senior Notes due 2028		749		474		749		389
6% Senior Secured Notes due 2029		866		759		865		751
5¼% Senior Secured Notes due 2030		1,450		1,200		1,448		1,166
4¾% Senior Secured Notes due 2031		1,054		787		1,053		766
6⅞% Junior-Priority Secured Notes due 2029		1,285		864		1,282		720
6⅛% Junior-Priority Secured Notes due 2030		1,165		750		1,164		615
ABL Facility and other debt		174		174		85		85