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Derivatives and Hedging (Tables) | 6 Months Ended
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Jun. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Notional and fair values of derivative instruments | The notional and fair values of derivative instruments are as follows (in millions):
| Notional Amount |  | Net Amount of Derivative Assets Presented in the Statements of Financial Position (1) |  | Net Amount of Derivative Liabilities Presented in the Statements of Financial Position (2)
| June 30, 2019 |  | December 31, 2018 |  | June 30, 2019 |  | December 31, 2018 |  | June 30, 2019 |  | December 31, 2018
Foreign exchange contracts: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounted for as hedges | $ | 588 |  |  | $ | 646 |  |  | $ | 14 |  |  | $ | 17 |  |  | $ | 1 |  |  | $ | 2 |
Not accounted for as hedges (3) | 285 |  |  | 269 |  |  | 5 |  |  | 1 |  |  | — |  |  | 6 |
Total | $ | 873 |  |  | $ | 915 |  |  | $ | 19 |  |  | $ | 18 |  |  | $ | 1 |  |  | $ | 8 |
(1) | Included within Other current assets ($8 million at June 30, 2019 and $3 million at December 31, 2018) or Other non-current assets ($11 million at June 30, 2019 and $15 million at December 31, 2018).
(2) | Included within Other current liabilities ($1 million at June 30, 2019 and $5 million at December 31, 2018) or Other non-current liabilities ($3 million at December 31, 2018).
(3) | These contracts typically are for 30 day durations and executed close to the last day of the most recent reporting month, thereby resulting in nominal fair values at the balance sheet date.
Derivative gains (losses) | The amounts of derivative gains (losses) recognized in the Financial Statements are as follows (in millions):
| Three Months Ended June 30 |  | Six Months Ended June 30
| 2019 |  | 2018 |  | 2019 |  | 2018
Loss recognized in Accumulated other comprehensive loss | $ | (12 | ) |  | $ | (25 | ) |  | $ | (8 | ) |  | $ | (11 | )
The amounts of derivative gains (losses) reclassified from Accumulated other comprehensive loss into the Condensed Consolidated Statements of Income are as follows (in millions):
|  | Three Months Ended June 30 |  | Six Months Ended June 30
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Revenue (1) |  | $ | (3 | ) |  | $ | — |  |  | $ | (7 | ) |  | $ | — |
Compensation and benefits |  | — |  |  | — |  |  | — |  |  | 1 |
Other general expenses |  | — |  |  | (1 | ) |  | — |  |  | (2 | )
Interest expense |  | — |  |  | — |  |  | (1 | ) |  | (1 | )
Other income (expense) (1) |  | — |  |  | (1 | ) |  | — |  |  | (4 | )
Total |  | $ | (3 | ) |  | $ | (2 | ) |  | $ | (8 | ) |  | $ | (6 | )
(1) With the adoption of new hedge accounting guidance in the first quarter of 2019, gains (losses) on derivatives accounted for as hedges are recognized in Total revenue in the Company’s Condensed Consolidated Statements of Income rather than Other income (expense). Refer to Note 2 “Accounting Principles and Practices” for additional details.

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