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Investments
12 Months Ended
Dec. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Investments Investments
The carrying value of the Company’s investments was $77 million and $45 million as of December 31, 2020 and 2019, respectively, which are included in Other long-term assets on the Consolidated Balances Sheets. During the year ended December 31, 2020, the Company paid $32 million for the purchases of long-term investments, which primarily related to the acquisition of additional shares in an existing investment. In connection with this additional investment, the Company identified an observable price change that resulted in a $7 million gain on its existing investment. During the year ended December 31, 2020, the Company also received cash proceeds of $6 million related to the sale of a long-term investment.

Net gains related to the Company’s investments, which are included within Other, net on the Consolidated Statements of Operations, were $5 million, $3 million, and $10 million during the years ended December 31, 2020, 2019, and 2018, respectively.