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Fair Value Measurements (Tables) | 9 Months Ended
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Sep. 30, 2021
Fair Value Disclosures [Abstract] |
Schedule of cash and cash equivalents and other investments reconciliation from adjusted cost to fair value | Our cash and cash equivalents and other investments consist of the following:
| September 30, 2021
| Cost Basis |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
| (in millions)
Cash | $ | 52 |  |  | $ | — |  |  | $ | — |  |  | $ | 52 |
Cash equivalents: |  |  |  |  |  |  |
U.S. and Canadian government obligations | 649 |  |  | — |  |  | — |  |  | 649 |
Other debt securities | 56 |  |  | — |  |  | — |  |  | 56 |
Total cash and cash equivalents | $ | 757 |  |  | $ | — |  |  | $ | — |  |  | $ | 757 |
Nonqualified employee benefit trusts | 17 |  |  | 3 |  |  | — |  |  | 20 |
| December 31, 2020
| Cost Basis |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
| (in millions)
Cash | $ | 108 |  |  | $ | — |  |  | $ | — |  |  | $ | 108 |
Cash equivalents: |  |  |  |  |  |  |
U.S. and Canadian government obligations | 552 |  |  | — |  |  | — |  |  | 552 |
Other debt securities | 23 |  |  | — |  |  | — |  |  | 23 |
Total cash and cash equivalents | $ | 683 |  |  | $ | — |  |  | $ | — |  |  | $ | 683 |
Nonqualified employee benefit trusts | 16 |  |  | 3 |  |  | — |  |  | 19 |
Schedule of assets and liabilities measured at fair value on a recurring basis | The following tables present assets and liabilities included in our consolidated balance sheets as of September 30, 2021 and December 31, 2020 that are recognized at fair value on a recurring basis, and indicate the fair value hierarchy utilized to determine such fair value:
| September 30, 2021
| Total Fair Value |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
| (in millions)
Cash equivalents | $ | 705 |  |  | $ | 705 |  |  | $ | — |  |  | $ | — |
Nonqualified employee benefit trusts | 20 |  |  | 20 |  |  | — |  |  | — |
Derivative assets | 15 |  |  | — |  |  | 15 |  |  | — |
Derivative liabilities | (3) |  |  | — |  |  | (3) |  |  | — |
Embedded derivative liability | (20) |  |  | — |  |  | (20) |  |  | — |
| December 31, 2020
| Total Fair Value |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
| (in millions)
Cash equivalents | $ | 575 |  |  | $ | 575 |  |  | $ | — |  |  | $ | — |
Nonqualified employee benefit trusts | 19 |  |  | 19 |  |  | — |  |  | — |
Derivative assets | 1 |  |  | — |  |  | 1 |  |  | — |
Derivative liabilities | (7) |  |  | — |  |  | (7) |  |  | — |
Embedded derivative liability | (18) |  |  | — |  |  | (18) |  |  | — |
Schedule of carrying amounts and estimated fair values of financial instruments | The carrying amount and estimated fair value of our financial instruments are as follows:
| September 30, 2021 |  | December 31, 2020
| Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
| (in millions)
Long-term debt, including current maturities | $ | 3,465 |  |  | $ | 4,165 |  |  | $ | 3,961 |  |  | $ | 4,731 |

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- Definition Tabular disclosure of investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -URI http://asc.fasb.org/topic&trid=2197064 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 321 -URI http://asc.fasb.org/topic&trid=75115024 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + 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 http://asc.fasb.org/extlink&oid=123874694&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 http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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