NOTE 7.Fair Values of Financial Instruments

 

The fair value of our long-term debt, estimated using inputs that incorporate certain active market quotations for similar, but not identical, assets based upon trading activity among lenders as well as other indirect inputs, was $1,134.5 million and $1,102.0 million at March 31, 2015 and December 31, 2014, respectively, and is classified within Level 2 of the valuation hierarchy.

 

Our cash equivalents primarily consist of U.S. Treasury and demand deposit money market accounts.  The carrying values of our cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of their short-term nature.