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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

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:

			March 31, 2022
			Cost Basis						Unrealized Gains						Unrealized Losses						Fair Value
			(in millions)
Cash			$	207					$	—					$	—					$	207
Cash equivalents:
U.S. and Canadian government obligations			2,324						—						—						2,324
Other debt securities			86						—						—						86
Total cash and cash equivalents			$	2,617					$	—					$	—					$	2,617
Nonqualified employee benefit trusts			17						2						—						19

			December 31, 2021
			Cost Basis						Unrealized Gains						Unrealized Losses						Fair Value
			(in millions)
Cash			$	121					$	—					$	—					$	121
Cash equivalents:
U.S. and Canadian government obligations			1,452						—						—						1,452
Other debt securities			55						—						—						55
Total cash and cash equivalents			$	1,628					$	—					$	—					$	1,628
Nonqualified employee benefit trusts			17						3						—						20

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 March 31, 2022 and December 31, 2021 that are recognized at fair value on a recurring basis, and indicate the fair value hierarchy utilized to determine such fair value:

			March 31, 2022
			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			$	2,410					$	2,410					$	—					$	—
Nonqualified employee benefit trusts			19						19						—						—
Derivative assets			3						—						3						—
Embedded derivative liability			(15)						—						(15)						—

			December 31, 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			$	1,507					$	1,507					$	—					$	—
Nonqualified employee benefit trusts			20						20						—						—
Derivative assets			16						—						16						—
Derivative liabilities			(47)						—						(47)						—
Embedded derivative liability			(15)						—						(15)						—

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:

			March 31, 2022												December 31, 2021
			Carrying Amount						Fair Value						Carrying Amount						Fair Value
			(in millions)
Long-term debt, including current maturities			$	3,462					$	3,781					$	3,465					$	4,113

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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

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Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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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

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