Other Fair Value Information
The carrying amounts and estimated fair values of our principal financial instruments that are not recognized at fair value on a recurring basis are as follows (in thousands): | | | | | | | | | | | | | | | | | | September 30, 2015 | | December 31, 2014 | | Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | Other Assets: | | | | | | | | Notes and loans receivable (a) | $ | 322,374 |
| | $ | 325,809 |
| | $ | 213,174 |
| | $ | 217,171 |
| | | | | | | | | Financial Liabilities: | |
| | |
| | |
| | |
| Short-term borrowings (b) | 12,000 |
| | 12,000 |
| | 12,000 |
| | 12,000 |
| Long-term debt (b) | 7,856,749 |
| | 7,735,906 |
| | 8,527,929 |
| | 8,806,700 |
|
| | (a) | Notes and loans receivable: The fair values are primarily measured using Level 2 and 3 inputs principally based on discounted future cash flows using market interest rates for similar instruments. |
| | (b) | Short-term borrowings and long-term debt: The fair values of short-term borrowings are estimated to be the carrying amount. The fair values of non-variable rate debt are estimated using quoted prices and estimated rates that would be available for debt with similar terms. The fair value of variable rate debt is estimated to be the carrying amount. |
|