Fair Value
12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Fair Value
Fair Value
The Partnership has certain financial instruments that are not measured at fair value on a recurring basis but nevertheless are recorded at amounts that approximate fair value due to their liquid or short-term nature, including cash and cash equivalents, customer deposits, short-term borrowings and short-term borrowings-affiliated. The Partnership’s long-term debt-affiliated is recorded at historical amounts.
The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate fair value.
Long-term debt-affiliated. The fair values of these securities are estimated based on the quoted market prices for similar issues or on the rates offered for securities of the same remaining maturities. As of December 31, 2015, the fair value approximates carrying value as these securities bear interest at variable rates. These fair value measurements are classified as Level 2 within the fair value hierarchy. For the years ended December 31, 2015 and 2014, there were no changes in the method or significant assumptions used to estimate the fair value of the financial instruments.

The carrying amount and estimated fair values of financial instruments were as follows:
At December 31, (in millions)
Carrying
Amount
2015
 
Estimated
Fair Value
2015
 
Carrying
Amount
2014
 
Estimated
Fair Value
2014
 
 
 
 
 
Predecessor
Current portion of long-term debt-affiliated
$

 
$

 
$
115.9

 
$
120.0

Long-term debt-affiliated
630.9

 
630.9

 
1,472.8

 
1,550.4