Table:
|  |  |  | DECEMBER 31, 2019 |  | DECEMBER 31, 2018 |  |
| --- | --- | --- | --- | --- | --- | --- |
|  | CLASSIFICATION | FAIR VALUE METHODOLOGY | CARRYING VALUE | FAIR VALUE | CARRYING VALUE | FAIR VALUE |
| CRTC tangible benefits obligation | Trade payables and other liabilities and other non-current liabilities | Present value of estimated future cash flows discounted using observable market interest rates | 29 | 29 | 61 | 61 |
| CRTC deferral account obligation | Trade payables and other liabilities and other non-current liabilities | Present value of estimated future cash flows discounted using observable market interest rates | 82 | 85 | 108 | 112 |
| Debt securities and other debt | Debt due within one year and long-term debt | Quoted market price of debt | 18,653 | 20,905 | 18,188 | 19,178 |
| Finance leases (1) | Debt due within one year and long-term debt | Present value of future cash flows discounted using observable market interest rates | - | - | 2,097 | 2,304 |
Paragraphs:
FAIR VALUE
Fair value is 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.
Certain fair value estimates are affected by assumptions we make about the amount and timing of future cash flows and discount rates, all of which reflect varying degrees of risk. Income taxes and other expenses that would be incurred on disposition of financial instruments are not reflected in the fair values. As a result, the fair values are not the net amounts that would be realized if these instruments were settled.
The carrying values of our cash and cash equivalents, trade and other receivables, dividends payable, trade payables and accruals, compensation payable, severance and other costs payable, interest payable, notes payable and loans secured by trade receivables approximate fair value as they are short-term.
The following table provides the fair value details of financial instruments measured at amortized cost in the statements of financial position.
(1) Upon adoption of IFRS 16 on January 1, 2019, fair value disclosures are no longer required for leases
Question:
What is the percentage change in fair values for CRTC tangible benefits obligation in 2019?
Answer: (29-61)/61 = -52.46