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Fair Values of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Carrying Amounts and Fair Values of Financial Instruments

The carrying amounts, including fair value adjustments previously recognized in acquisition purchase accounting and a fair value adjustment related to the Company’s interest rate swap fair value hedge (which is classified as Level 2 in the fair value hierarchy), and fair values of the financial instruments were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrying

 

 

December 31, 2016

 

 

 

Amount

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Preferred stock with mandatory redemption

     requirements

 

$

12

 

 

$

 

 

$

 

 

$

15

 

 

$

15

 

Long-term debt (excluding capital lease

     obligations)

 

 

6,320

 

 

 

3,876

 

 

 

1,363

 

 

 

1,805

 

 

 

7,044

 

 

 

 

 

Carrying

 

 

December 31, 2015

 

 

 

Amount

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Preferred stock with mandatory redemption

     requirements

 

$

13

 

 

$

 

 

$

 

 

$

18

 

 

$

18

 

Long-term debt (excluding capital lease

     obligations)

 

 

5,914

 

 

 

3,397

 

 

 

1,419

 

 

 

1,941

 

 

 

6,757

 

 

Fair Value Measurements of Assets and Liabilities on Recurring Basis

Recurring Fair Value Measurements

The following table presents assets and liabilities measured and recorded at fair value on a recurring basis and their level within the fair value hierarchy as of December 31, 2016 and 2015, respectively:

 

 

 

 

 

December 31, 2016

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted funds

 

 

 

$

24

 

 

$

 

 

$

 

 

$

24

 

Rabbi trust investments

 

 

 

 

12

 

 

 

 

 

 

 

 

 

12

 

Deposits

 

 

 

 

3

 

 

 

 

 

 

 

 

 

3

 

Mark-to-market derivative asset

 

 

 

 

 

 

 

28

 

 

 

 

 

 

28

 

Other investments

 

 

 

 

1

 

 

 

 

 

 

 

 

 

1

 

Total assets

 

 

 

 

40

 

 

 

28

 

 

 

 

 

 

68

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation obligation

 

 

 

 

13

 

 

 

 

 

 

 

 

 

13

 

Mark-to-market derivative liability

 

 

 

 

 

 

 

 

 

 

 

 

 

-

 

Total liabilities

 

 

 

 

13

 

 

 

 

 

 

 

 

 

13

 

Total net assets (liabilities)

 

 

 

$

27

 

 

$

28

 

 

$

 

 

$

55

 

 

 

 

 

 

December 31, 2015

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted funds

 

 

 

$

27

 

 

$

 

 

$

 

 

$

27

 

Rabbi trust investments

 

 

 

 

12

 

 

 

 

 

 

 

 

 

12

 

Deposits

 

 

 

 

1

 

 

 

 

 

 

 

1

 

Mark-to-market derivative asset

 

 

 

 

 

 

2

 

 

 

 

 

2

 

Other investments

 

 

 

 

4

 

 

 

 

 

 

 

4

 

Total assets

 

 

 

 

44

 

 

 

2

 

 

 

 

 

46

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation obligation

 

 

 

 

11

 

 

 

 

 

 

 

11

 

Mark-to-market derivative liability

 

 

 

 

 

 

1

 

 

 

 

 

1

 

Total liabilities

 

 

 

 

11

 

 

 

1

 

 

 

 

 

12

 

Total net assets (liabilities)

 

 

 

$

33

 

 

$

1

 

 

$

 

 

$

34