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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2023
Fair Value Disclosures [Abstract] |
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis | The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2023 and December 31, 2022:
| Identical Assets (Level 1) |  | Observable Inputs (Level 2) |  | Unobservable Inputs (Level 3) |  | Total
(In millions) | 03/31/23 |  | 12/31/22 |  | 03/31/23 |  | 12/31/22 |  | 03/31/23 |  | 12/31/22 |  | 03/31/23 |  | 12/31/22
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial instruments owned: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Exchange traded equity securities (a) | $ | 5 |  |  | $ | 6 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 5 |  |  | $ | 6 |
Mutual funds (a) | 162 |  |  | 162 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 162 |  |  | 162 |
Money market funds (b) | 130 |  |  | 146 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 130 |  |  | 146 |
Other equity investment (a) | — |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  | — |  |  | — |  |  | 13 |
Contingent purchase consideration assets (c) | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 3 |
Total assets measured at fair value | $ | 297 |  |  | $ | 314 |  |  | $ | — |  |  | $ | 13 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 297 |  |  | $ | 330 |
Fiduciary Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury bills (d) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Money market funds | 67 |  |  | 201 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 67 |  |  | 201 |
Total fiduciary assets measured at fair value | $ | 67 |  |  | $ | 201 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 67 |  |  | $ | 201 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent purchase consideration liabilities (e) | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 383 |  |  | $ | 377 |  |  | $ | 383 |  |  | $ | 377 |
Total liabilities measured at fair value | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 383 |  |  | $ | 377 |  |  | $ | 383 |  |  | $ | 377 |
(a) Included in other assets in the consolidated balance sheets. (b) Included in cash and cash equivalents in the consolidated balance sheets. (c) Included in other receivables in the consolidated balance sheets. (d) Maturity dates of three months or less. (e) Included in accounts payable and accrued liabilities and other liabilities in the consolidated balance sheets.
Schedule of Changes in Fair Value of Level 3 Liabilities Representing Acquisition Related Contingent Consideration | The following table sets forth a summary of the changes in fair value of the Company’s Level 3 liabilities for the three months ended March 31, 2023 and 2022:
| Three Months Ended March 31, |  |
(In millions) | 2023 |  | 2022 |  |  |
Balance at beginning of period | $ | 377 |  |  | $ | 352 |  |  |  |
Net additions | — |  |  | — |  |  |  |
Payments | (1) |  |  | (4) |  |  |  |
Revaluation impact | 7 |  |  | 10 |  |  |  |
Balance at March 31, | $ | 383 |  |  | $ | 358 |  |  |  |

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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