Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Estimated carrying values and fair values

The estimated carrying amounts and fair values of the Company’s recorded financial instruments not carried at fair market value are as follows:



	As of September 30, 2015				As of December 31, 2014
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
(In millions)
Assets:
Notes receivable, including current portion	$	18	$	18	$	21	$	21
Liabilities:
Long-term debt, including current portion	$	4,509	$	4,406	$	4,787	$	4,873

Schedule of Fair Value, Assets and Liabilities [Table Text Block]

The Company records its derivative assets and liabilities at fair market value on its consolidated balance sheet. The following table presents assets and liabilities measured and recorded at fair value on the Company's consolidated balance sheets on a recurring basis and their level within the fair value hierarchy:



	As of September 30, 2015				As of December 31, 2014
	Fair Value ^(a)		Fair Value ^(a)		Fair Value ^(b)
(In millions)	Level 1		Level 2		Level 2
Derivative assets:
Commodity contracts	$	—	$	3	$	—
Interest rate contracts	—		—		2
Total assets	—		3		2
Derivative liabilities:
Commodity contracts	1		2		3
Interest rate contracts	—		113		114
Total liabilities	$	1	$	115	$	117

^(a) There were no assets or liabilities classified as Level 3 as of September 30, 2015.

^(b) There were no assets or liabilities classified as Level 1 or Level 3 as of December 31, 2014.