beatandraise : SEC Filings Research with AI

2.0.0.10 false Fair Value Measurements and Financial Instruments 00200 - Disclosure - Fair Value Measurements and Financial Instruments true false false false 1 usd $ false false Percent Standard http://www.xbrl.org/2003/instance pure xbrli 0 Shares Standard http://www.xbrl.org/2003/instance shares xbrli 0 USD Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 2 Notes to Consolidated Financial Statements 0 low_NotesToConsolidatedFinancialStatements low false na duration string Notes to Consolidated Financial Statements Header false false false false false true false false false false false false 1 false false false false 0 0 false false false Notes to Consolidated Financial Statements Header false 3 Fair Value Measurements and Financial Instruments 1 low_FairValueMeasurementsAndFinancialInstrumentsTextBlock low false na duration string This element represents the disclosures related to the fair value measurement of assets and liabilities measured on a... false false false false false false false false false false false terselabel false 1 false false false false 0 0 <div style="font-size:12pt">Note 2: Fair Value Measurements and Financial Instruments - Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The authoritative guidance for fair value measurements establishes a three-level hierarchy, which encourages an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of the hierarchy are defined as follows: <ul><li>Level 1 - inputs to the valuation techniques that are quoted prices in active markets for identical assets or liabilities </li></ul> <ul><li>Level 2 - inputs to the valuation techniques that are other than quoted prices but are observable for the assets or liabilities, either directly or indirectly </li></ul> <ul><li>Level 3 - inputs to the valuation techniques that are unobservable for the assets or liabilities </li></ul> The following tables present the Company’s financial assets measured at fair value on a recurring basis as of April 30, 2010, May 1, 2009, and January 29, 2010, classified by fair value hierarchy: <table style="border-collapse: collapse; margin-top: 20px;"><tr><td height="20" width="208" align="left"> </td><td height="20" width="13" align="left"> </td><td height="20" width="120" align="left"> </td><td height="20" width="13" align="left"> </td><td width="338" align="center" colspan="5" style="border-bottom: 1px solid #000000;" height="20">Fair Value Measurements at Reporting Date Using</td></tr><tr><td width="208" align="left" height="97" rowspan="2"> </td><td height="77" width="13" align="left"> </td><td width="120" align="center" height="97" rowspan="2"> </td><td height="77" width="13" align="center"> </td><td width="104" align="center" rowspan="2" style="border-top: 1px solid #000000;" height="97">Quoted Prices in Active Markets for Identical Assets</td><td height="77" style="border-top: 1px solid #000000;" align="center" width="13"> </td><td width="104" align="center" rowspan="2" style="border-top: 1px solid #000000;" height="97">Significant Other Observable Inputs</td><td height="77" style="border-top: 1px solid #000000;" align="center" width="13"> </td><td width="104" align="center" rowspan="2" style="border-top: 1px solid #000000;" height="97">Significant Unobservable Inputs</td></tr><tr><td height="20" width="13" align="left"> </td><td height="20" width="13" align="center"> </td><td height="20" width="13" align="center"> </td><td height="20" width="13" align="center"> </td></tr><tr><td height="20" style="border-bottom: 1px solid #000000;" align="left" width="208">(In millions)</td><td height="20" style="border-bottom: 1px solid #000000;" align="left" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="120">April 30, 2010</td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="104">(Level 1)</td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="104">(Level 2)</td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="104">(Level 3)</td></tr><tr><td height="20" style="border-top: 1px solid #000000;" align="left" width="208">Available-for-sale securities:</td><td height="20" style="border-top: 1px solid #000000;" align="right" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="120"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="104"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="104"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="104"> </td></tr><tr><td height="20" width="208" align="left">   Municipal Bonds</td><td height="20" width="13" align="right">$</td><td height="20" width="120" align="right"> 276 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> - </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> 276 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> - </td></tr><tr><td height="40" width="208" align="left">   Municipal Variable Rate Demand Obligations</td><td height="40" width="13" align="right"> </td><td height="40" width="120" align="right"> 261 </td><td height="40" width="13" align="right"> </td><td height="40" width="104" align="right"> - </td><td height="40" width="13" align="right"> </td><td height="40" width="104" align="right"> 261 </td><td height="40" width="13" align="right"> </td><td height="40" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">   Money Market Funds</td><td height="20" width="13" align="right"> </td><td height="20" width="120" align="right"> 84 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> 84 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">   Other</td><td height="20" width="13" align="right"> </td><td height="20" width="120" align="right"> 7 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> 2 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> 5 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">Trading securities:</td><td height="20" width="13" align="right"> </td><td height="20" width="120" align="right"> </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> </td></tr><tr><td height="20" width="208" align="left">   Mutual Funds</td><td height="20" width="13" align="left"> </td><td height="20" width="120" align="right"> 47 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> 47 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">Total short-term investments</td><td height="20" width="13" align="right">$</td><td height="20" width="120" align="right"> 675 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> 133 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> 542 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">Available-for-sale securities:</td><td height="20" width="13" align="left"> </td><td height="20" width="120" align="right"> </td><td height="20" width="13" align="left"> </td><td height="20" width="104" align="right"> </td><td height="20" width="13" align="left"> </td><td height="20" width="104" align="right"> </td><td height="20" width="13" align="left"> </td><td height="20" width="104" align="right"> </td></tr><tr><td height="20" width="208" align="left">   Municipal Bonds</td><td height="20" width="13" align="left">$</td><td height="20" width="120" align="right"> 832 </td><td height="20" width="13" align="left">$</td><td height="20" width="104" align="right"> - </td><td height="20" width="13" align="left">$</td><td height="20" width="104" align="right"> 832 </td><td height="20" width="13" align="left">$</td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" style="border-bottom: 1px solid #000000;" align="left" width="208">Total long-term investments</td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="120"> 832 </td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="104"> - </td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="104"> 832 </td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="104"> - </td></tr></table><table style="border-collapse: collapse; margin-top: 20px;"><tr><td height="20" width="208" align="left"> </td><td height="20" width="13" align="left"> </td><td height="20" width="120" align="left"> </td><td height="20" width="13" align="left"> </td><td width="338" align="center" colspan="5" style="border-bottom: 1px solid #000000;" height="20">Fair Value Measurements at Reporting Date Using</td></tr><tr><td width="208" align="left" height="97" rowspan="2"> </td><td height="19" width="13" align="left"> </td><td width="120" align="center" height="97" rowspan="2"> </td><td height="19" width="13" align="center"> </td><td width="104" align="center" rowspan="2" style="border-top: 1px solid #000000;" height="97">Quoted Prices in Active Markets for Identical Assets</td><td height="19" style="border-top: 1px solid #000000;" align="center" width="13"> </td><td width="104" align="center" rowspan="2" style="border-top: 1px solid #000000;" height="97">Significant Other Observable Inputs</td><td height="19" style="border-top: 1px solid #000000;" align="center" width="13"> </td><td width="104" align="center" rowspan="2" style="border-top: 1px solid #000000;" height="97">Significant Unobservable Inputs</td></tr><tr><td height="78" width="13" align="left"> </td><td height="78" width="13" align="center"> </td><td height="78" width="13" align="center"> </td><td height="78" width="13" align="center"> </td></tr><tr><td height="20" style="border-bottom: 1px solid #000000;" align="left" width="208">(In millions)</td><td height="20" style="border-bottom: 1px solid #000000;" align="left" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="120">May 1, 2009</td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="104">(Level 1)</td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="104">(Level 2)</td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="104">(Level 3)</td></tr><tr><td height="20" style="border-top: 1px solid #000000;" align="left" width="208">Available-for-sale securities:</td><td height="20" style="border-top: 1px solid #000000;" align="right" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="120"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="104"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="104"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="104"> </td></tr><tr><td height="20" width="208" align="left">   Municipal Bonds</td><td height="20" width="13" align="right">$</td><td height="20" width="120" align="right"> 346 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> - </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> 346 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">   Money Market Funds</td><td height="20" width="13" align="right"> </td><td height="20" width="120" align="right"> 66 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> 66 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">   Other</td><td height="20" width="13" align="right"> </td><td height="20" width="120" align="right"> 15 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> 2 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> 13 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">Trading securities:</td><td height="20" width="13" align="right"> </td><td height="20" width="120" align="right"> </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> </td></tr><tr><td height="20" width="208" align="left">   Mutual Funds</td><td height="20" width="13" align="left"> </td><td height="20" width="120" align="right"> 33 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> 33 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">Total short-term investments</td><td height="20" width="13" align="right">$</td><td height="20" width="120" align="right"> 460 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> 101 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> 359 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">Available-for-sale securities:</td><td height="20" width="13" align="left"> </td><td height="20" width="120" align="right"> </td><td height="20" width="13" align="left"> </td><td height="20" width="104" align="right"> </td><td height="20" width="13" align="left"> </td><td height="20" width="104" align="right"> </td><td height="20" width="13" align="left"> </td><td height="20" width="104" align="right"> </td></tr><tr><td height="20" width="208" align="left">   Municipal Bonds</td><td height="20" width="13" align="left">$</td><td height="20" width="120" align="right"> 448 </td><td height="20" width="13" align="left">$</td><td height="20" width="104" align="right"> - </td><td height="20" width="13" align="left">$</td><td height="20" width="104" align="right"> 448 </td><td height="20" width="13" align="left">$</td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" style="border-bottom: 1px solid #000000;" align="left" width="208">Total long-term investments</td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="120"> 448 </td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="104"> - </td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="104"> 448 </td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="20" style="border-bottom: 1px solid #000000;" align="right" width="104"> - </td></tr></table><table style="border-collapse: collapse; margin-top: 20px;"><tr><td height="20" width="208" align="left"> </td><td height="20" width="13" align="left"> </td><td height="20" width="120" align="left"> </td><td height="20" width="13" align="left"> </td><td width="338" align="center" colspan="5" style="border-bottom: 1px solid #000000;" height="20">Fair Value Measurements at Reporting Date Using</td></tr><tr><td width="208" align="left" height="104" rowspan="2"> </td><td height="19" width="13" align="left"> </td><td width="120" align="center" height="104" rowspan="2"> </td><td height="19" width="13" align="center"> </td><td width="104" align="center" rowspan="2" style="border-top: 1px solid #000000;" height="104">Quoted Prices in Active Markets for Identical Assets</td><td height="19" style="border-top: 1px solid #000000;" align="center" width="13"> </td><td width="104" align="center" rowspan="2" style="border-top: 1px solid #000000;" height="104">Significant Other Observable Inputs</td><td height="19" style="border-top: 1px solid #000000;" align="center" width="13"> </td><td width="104" align="center" rowspan="2" style="border-top: 1px solid #000000;" height="104">Significant Unobservable Inputs</td></tr><tr><td height="85" width="13" align="left"> </td><td height="85" width="13" align="center"> </td><td height="85" width="13" align="center"> </td><td height="85" width="13" align="center"> </td></tr><tr><td height="20" style="border-bottom: 1px solid #000000;" align="left" width="208">(In millions)</td><td height="20" style="border-bottom: 1px solid #000000;" align="left" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="120">January 29, 2010</td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="104">(Level 1)</td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="104">(Level 2)</td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="104">(Level 3)</td></tr><tr><td height="20" style="border-top: 1px solid #000000;" align="left" width="208">Available-for-sale securities:</td><td height="20" style="border-top: 1px solid #000000;" align="right" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="120"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="104"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="104"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="right" width="104"> </td></tr><tr><td height="20" width="208" align="left">   Municipal Bonds</td><td height="20" width="13" align="right">$</td><td height="20" width="120" align="right"> 303 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> - </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> 303 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">   Money Market Funds</td><td height="20" width="13" align="right"> </td><td height="20" width="120" align="right"> 68 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> 68 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">   Other</td><td height="20" width="13" align="right"> </td><td height="20" width="120" align="right"> 12 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> 2 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> 10 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">Trading securities:</td><td height="20" width="13" align="right"> </td><td height="20" width="120" align="right"> </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> </td></tr><tr><td height="20" width="208" align="left">   Mutual Funds</td><td height="20" width="13" align="left"> </td><td height="20" width="120" align="right"> 42 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> 42 </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td><td height="20" width="13" align="right"> </td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">Total short-term investments</td><td height="20" width="13" align="right">$</td><td height="20" width="120" align="right"> 425 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> 112 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> 313 </td><td height="20" width="13" align="right">$</td><td height="20" width="104" align="right"> - </td></tr><tr><td height="20" width="208" align="left">Available-for-sale securities:</td><td height="20" width="13" align="left"> </td><td height="20" width="120" align="right"> </td><td height="20" width="13" align="left"> </td><td height="20" width="104" align="right"> </td><td height="20" width="13" align="left"> </td><td height="20" width="104" align="right"> </td><td height="20" width="13" align="left"> </td><td height="20" width="104" align="right"> </td></tr><tr><td height="20" width="208" align="left">   Municipal Bonds</td><td height="20" width="13" align="left">$</td><td height="20" width="120" align="right"> 277 </td><td height="20" width="13" align="left">$</td><td height="20" width="104" align="right"> - </td><td height="20" width="13" align="left">$</td><td height="20" width="104" align="right"> 277 </td><td height="20" width="13" align="left">$</td><td height="20" width="104" align="right"> - </td></tr><tr><td height="19" style="border-bottom: 1px solid #000000;" align="left" width="208">Total long-term investments</td><td height="19" style="border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="19" style="border-bottom: 1px solid #000000;" align="right" width="120"> 277 </td><td height="19" style="border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="19" style="border-bottom: 1px solid #000000;" align="right" width="104"> - </td><td height="19" style="border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="19" style="border-bottom: 1px solid #000000;" align="right" width="104"> 277 </td><td height="19" style="border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="19" style="border-bottom: 1px solid #000000;" align="right" width="104"> - </td></tr></table>When available, quoted prices are used to determine fair value. When quoted prices in active markets are available, investments are classified within Level 1 of the fair value hierarchy. When quoted prices in active markets are not available, fair values are determined using pricing models and the inputs to those pricing models are based on observable market inputs. The inputs to the pricing models are typically benchmark yields, reported trades, broker-dealer quotes, issuer spreads and benchmark securities, among others. During the three months ended April 30, 2010 and May 1, 2009, the Company had no significant measurements of assets or liabilities at fair value on a non-recurring basis subsequent to their initial recognition. The Company’s financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, accounts receivable, short-term borrowings, accounts payable, accrued liabilities and long-term debt and are reflected in the financial statements at cost. With the exception of long-term debt, cost approximates fair value for these items due to their short-term nature. Estimated fair values for long-term debt have been determined using available market information, including reported trades, benchmark yields and broker-dealer quotes. Carrying amounts and the related estimated fair value of the Company’s long-term debt, excluding capital leases and other, are as follows: <table style="border-collapse: collapse; margin-top: 20px;"><tr><td height="20" width="320" align="left"> </td><td width="198" align="center" colspan="4" style="border-bottom: 1px solid #000000;" height="20">April 30, 2010</td><td height="20" width="10" align="center"> </td></tr><tr><td height="20" width="320" align="left"> </td><td height="20" style="border-top: 1px solid #000000;" align="left" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="center" width="92">Carrying</td><td height="20" style="border-top: 1px solid #000000;" align="center" width="13"> </td><td height="20" style="border-top: 1px solid #000000;" align="center" width="80">Fair</td><td height="20" width="10" align="center"> </td></tr><tr><td height="20" style="border-bottom: 1px solid #000000;" align="left" width="320">(In millions)</td><td height="20" style="border-bottom: 1px solid #000000;" align="left" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="92">Amount</td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="13"> </td><td height="20" style="border-bottom: 1px solid #000000;" align="center" width="80">Value</td><td height="20" width="10" align="center"> </td></tr><tr><td height="20" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" align="left" width="320">Long-term debt (excluding capital leases and other)</td><td height="20" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="20" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" align="right" width="92">5,712 </td><td height="20" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" align="right" width="13">$</td><td height="20" style="border-top: 1px solid #000000;border-bottom: 1px solid #000000;" align="right" width="80">6,205 </td><td height="20" width="10" align="right"> </td></tr></table></div> Note 2: Fair Value Measurements and Financial Instruments - Fair value is defined as the price that would be received to sell an asset or paid to transfer a false false false This element represents the disclosures related to the fair value measurement of assets and liabilities measured on a recurring or nonrecurring basis and all disclosures regarding the fair value of financial instruments, including financial instruments and financial liabilities, and the measurements of those instruments, assets, and liabilities. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true