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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2019
Fair Value Measurements |
Fair Value of Assets and Liabilities Measured on Recurring Basis | Our assets and liabilities that are measured at fair value on a recurring basis include the following (in millions):
|  | March 31, |  | December 31,
|  | 2019 |  | 2018
Fair Value Measurements Using: |  |  |  |  |  |
Quoted prices in active markets (Level 1): |  |  |  |  |  |
Money market funds |  | $ | 163 |  | $ | 70
|  |  | 163 |  |  | 70
Significant other observable inputs (Level 2): |  |  |  |  |  |
Available-for-sale securities |  |  | 258 |  |  | 288
|  |  | 258 |  |  | 288
Significant unobservable inputs (Level 3): |  |  |  |  |  |
Redeemable preferred stock (a) |  |  | 46 |  |  | 66
|  |  | 46 |  |  | 66
Total Assets |  | $ | 467 |  | $ | 424
| (a) |  | When available, Level 3 investments have been measured based on third-party investors’ recent or pending transactions in these securities, which are considered the best evidence of fair value. When this evidence is not available, we use other valuation techniques as appropriate and available. These valuation methodologies may include transactions in similar instruments, discounted cash flow techniques, third-party appraisals or industry multiples and public company comparable transactions. In the first quarter of 2019, we redeemed our preferred stock received in conjunction with the 2014 sale of our Puerto Rico operations for $17 million. At the time of redemption, the value of redeemable preferred stock was $20 million, resulting in a $3 million loss on investment.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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