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Fair Value of Financial Instruments (Tables)
6 Months Ended
Jun. 30, 2011
Fair Value of Financial Instruments  
Schedule of fair value of liabilities measured on a recurring basis

 

 

 

 

 

 

 

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)

 

 

 

June 30,
2011

 

December 31,
2010

 

June 30,
2011

 

December 31,
2010

 

June 30,
2011

 

December 31,
2010

 

 

 

(dollars in millions)

 

Liabilities Recorded at Fair Value in the Financial Statements:

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivatives:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest Rate Swap Liabilities (included in other non-current liabilities)

 

$

100

 

$

108

 

$

 

$

 

$

100

 

$

108

 

Embedded Derivatives in Convertible Debt (included in other non-current liabilities)

 

 

 

 

 

 

 

Total Derivative Liabilities Recorded at Fair Value in the Financial Statements

 

$

100

 

$

108

 

$

 

$

 

$

100

 

$

108

 

Liabilities Not Recorded at Fair Value in the Financial Statements:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-term Debt, including the current portion:

 

 

 

 

 

 

 

 

 

 

 

 

 

Senior Notes

 

$

4,120

 

$

2,885

 

$

4,307

 

$

2,789

 

$

 

$

 

Convertible Notes

 

1,331

 

1,788

 

718

 

697

 

1,419

 

1,189

 

Term Loans

 

1,679

 

1,679

 

1,655

 

1,632

 

 

 

Commercial Mortgage

 

66

 

67

 

 

 

 

79

 

79

 

Capital Leases and Other

 

28

 

29

 

 

 

 

28

 

29

 

Total Long-term Debt, including the current portion:

 

$

7,224

 

$

6,448

 

$

6,680

 

$

5,118

 

$

1,526

 

$

1,297