Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value Disclosures [Abstract]

Fair value of financial assets and liabilities

The fair value of financial assets and liabilities at September 30, 2015 and December 31, 2014, is shown in the table below:

	Fair Value Measurements
	Gross Amounts of Assets and Liabilities						Netting Adjustments(1)			Net Amounts Presented on the Condensed Consolidated Balance Sheets
	Level 1		Level 2		Level 3
	(in millions)
	September 30, 2015
Financial Assets
Commodity derivative instruments - short-term	$	—	$	186.4	$	—	$	(2.5	)	$	183.9
Commodity derivative instruments - long-term	—		17.0		—		—			17.0
Total financial assets	$	—	$	203.4	$	—	$	(2.5	)	$	200.9
Financial Liabilities
Commodity derivative instruments - short-term	$	—	$	2.5	$	—	$	(2.5	)	$	—
Commodity derivative instruments - long-term	—		—		—		—			—
Total financial liabilities	$	—	$	2.5	$	—	$	(2.5	)	$	—
	December 31, 2014
Financial Assets
Commodity derivative instruments - short-term	$	—	$	339.3	$	—	$	(0.3	)	$	339.0
Commodity derivative instruments - long-term	—		9.9		—		—			9.9
Total financial assets	$	—	$	349.2	$	—	$	(0.3	)	$	348.9
Financial Liabilities
Commodity derivative instruments - short-term	$	—	$	0.3	$	—	$	(0.3	)	$	—
Total financial liabilities	$	—	$	0.3	$	—	$	(0.3	)	$	—

Fair value and related carrying amount of certain financial instruments

The following table discloses the fair value and related carrying amount of certain financial instruments not disclosed in other Notes accompanying the Condensed Consolidated Financial Statements in this Quarterly Report on Form 10-Q:

	Carrying Amount		Level 1 Fair Value		Carrying Amount		Level 1 Fair Value
	September 30, 2015				December 31, 2014
	(in millions)
Financial assets
Cash and cash equivalents	$	495.8	$	495.8	$	1,160.1	$	1,160.1
Financial liabilities
Checks outstanding in excess of cash balances	$	12.8	$	12.8	$	54.7	$	54.7
Long-term debt	$	2,218.5	$	1,965.5	$	2,218.1	$	2,171.6