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Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS

v3.21.2
FAIR VALUE MEASUREMENTS
9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS
NOTE 9 - FAIR VALUE MEASUREMENTS
The carrying values of certain financial instruments (e.g., Accounts receivable, net, Accounts payable and Other current liabilities) approximate fair value and, therefore, have been excluded from the table below. A summary of the carrying value and fair value of other financial instruments were as follows:
(In Millions)
September 30, 2021 December 31, 2020
Classification
Carrying
Value
Fair Value
Carrying
Value
Fair
Value
Senior Notes Level 1 $ 3,554 $ 4,385 $ 3,802听 $ 4,446听
IRBs due 2024 to 2028 Level 1 94 93 94听 91听
EDC Revolving Facilities - outstanding balance Level 2 55 55 18听 18听
ABL Facility - outstanding balance Level 2 1,673 1,673 1,510听 1,510听
Total $ 5,376 $ 6,206 $ 5,424听 $ 6,065听
The fair value of both current and long-term debt was determined using quoted market prices.