Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair value of financial assets and liabilities [Table Text Block]

The fair value of financial assets and liabilities at March 31, 2016 and December 31, 2015, 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
	March 31, 2016
	(in millions)
Financial Assets
Commodity derivative instruments – short-term	$	—	$	134.5	$	—	$	(0.1	)	$	134.4
Commodity derivative instruments – long-term	—		20.9		—		(0.1		)	20.8
Total financial assets	$	—	$	155.4	$	—	$	(0.2	)	$	155.2
Financial Liabilities
Commodity derivative instruments – short-term	$	—	$	0.1	$	—	$	(0.1	)	$	—
Commodity derivative instruments – long-term	—		3.5		—		(0.1		)	3.4
Total financial liabilities	$	—	$	3.6	$	—	$	(0.2	)	$	3.4
	December 31, 2015
	(in millions)
Financial Assets
Commodity derivative instruments – short-term	$	—	$	147.8	$	—	$	(1.0	)	$	146.8
Commodity derivative instruments – long-term	—		23.2		—		—			23.2
Total financial assets	$	—	$	171.0	$	—	$	(1.0	)	$	170.0
Financial Liabilities
Commodity derivative instruments – short-term	$	—	$	1.8	$	—	$	(1.0	)	$	0.8
Commodity derivative instruments – long-term	—		4.0		—		—			4.0
Total financial liabilities	$	—	$	5.8	$	—	$	(1.0	)	$	4.8

^[1]

Fair value and related carrying amount of certain financial instruments [Table Text Block]

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
	March 31, 2016				December 31, 2015
	(in millions)
Financial Assets
Cash and cash equivalents	$	616.4	$	616.4	$	376.1	$	376.1
Financial Liabilities
Checks outstanding in excess of cash balances	$	—	$	—	$	29.8	$	29.8
Long-term debt	2,192.9		2,028.9		2,191.5		1,784.6

[1] The Company nets its derivative contract assets and liabilities outstanding with the same counterparty on the Condensed Consolidated Balance Sheets, as the contracts contain netting provisions. Refer to Note 7 – Derivative Contracts, for additional information regarding the Company's derivative contracts.