Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of fair value of liabilities measured on a recurring basis

The table below presents the fair values for the Company’s interest rate swaps and long-term debt as well as the input levels used to determine these fair values as of December 31, 2012 and 2011:



					Fair Value Measurement Using
	Total Carrying Value in Consolidated Balance Sheet				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)
	December 31, 2012		December 31, 2011		December 31, 2012		December 31, 2011		December 31, 2012		December 31, 2011
	(dollars in millions)
Liabilities Recorded at Fair Value in the Financial Statements:
Derivatives:
Interest Rate Swap Liabilities (included in other non-current liabilities)	$	56	$	90	$	—	$	—	$	56	$	90
Total Derivative Liabilities Recorded at Fair Value in the Financial Statements	$	56	$	90	$	—	$	—	$	56	$	90
Liabilities Not Recorded at Fair Value in the Financial Statements:
Long-term Debt, including the current portion:
Term Loans	$	2,603	$	2,567	$	2,631	$	2,518	$	—	$	—
Senior Notes	5,185		4,716		5,712		4,822		—		—
Convertible Notes	846		939		286		247		748		834
Commercial Mortgage	—		65		—		—		—		73
Capital Leases and Other	98		163		—		—		98		163
Total Long-term Debt, including the current portion:	$	8,732	$	8,450	$	8,629	$	7,587	$	846	$	1,070

The Company does not have any assets or liabilities measured using significant unobservable inputs (Level 3).

- Definition

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ References+ Details