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FINANCIAL INSTRUMENTS AND RELATED FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
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Dec. 31, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Summary of Activity Relating to Securitization Arrangement | The following is a summary of the activity relating to the securitization arrangement.
as of and for the years ended December 31 (in millions) |  | 2017 |  |  | 2016 |  |  | 2015 |
Sold receivables at beginning of year |  | $ | 68 |  |  | $ | 81 |  |  | $ | 104 |
Proceeds from sales of receivables |  |  | 270 |  |  |  | 348 |  |  |  | 361 |
Cash collections (remitted to the owners of the receivables) |  |  | (270 | ) |  |  | (367 | ) |  |  | (384 | )
Effect of currency exchange rate changes |  |  | 3 |  |  |  | 6 |  |  |  | — |
Sold receivables at end of year |  | $ | 71 |  |  | $ | 68 |  |  | $ | 81 |
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | The following table summarizes the bases used to measure financial assets and liabilities that are carried at fair value on a recurring basis in the consolidated balance sheets.
|  |  |  |  |  | Basis of fair value measurement |
(in millions) |  | Balance as of December 31, 2017 |  |  | Quoted prices in active markets for identical assets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency hedges |  | $ | 15 |  |  | $ | — |  |  | $ | 15 |  |  | $ | — |
Interest rate hedges |  |  | 4 |  |  |  | — |  |  |  | 4 |  |  |  | — |
Available-for-sale securities |  |  | 8 |  |  |  | 8 |  |  |  | — |  |  |  | — |
Total assets |  | $ | 27 |  |  | $ | 8 |  |  | $ | 19 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency hedges |  | $ | 4 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |
Contingent payments related to acquisitions |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | 9 |
Total liabilities |  | $ | 13 |  |  | $ | — |  |  | $ | 4 |  |  | $ | 9 |
|  |  |  |  |  | Basis of fair value measurement |
(in millions) |  | Balance as of December 31, 2016 |  |  | Quoted prices in active markets for identical assets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency hedges |  | $ | 23 |  |  | $ | — |  |  | $ | 23 |  |  | $ | — |
Interest rate hedges |  |  | 7 |  |  |  | — |  |  |  | 7 |  |  |  | — |
Available-for-sale securities |  |  | 9 |  |  |  | 9 |  |  |  | — |  |  |  | — |
Total assets |  | $ | 39 |  |  | $ | 9 |  |  | $ | 30 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency hedges |  | $ | 3 |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |
Contingent payments related to acquisitions |  |  | 19 |  |  |  | — |  |  |  | — |  |  |  | 19 |
Total liabilities |  | $ | 22 |  |  | $ | — |  |  | $ | 3 |  |  | $ | 19 |
Reconciliation of Fair Value Measurements that Use Significant Unobservable Inputs | The following table is a reconciliation of the fair value measurements that use significant unobservable inputs (Level 3), which consist of contingent payments related to acquisitions.
(in millions) |  | Contingent payments |
Fair value as of December 31, 2015 |  | $ | 20 |
Additions |  |  | — |
Payments |  |  | (1 | )
Net gains recognized in earnings |  |  | — |
Fair value as of December 31, 2016 |  |  | 19 |
Additions |  |  | — |
Payments |  |  | (9 | )
Net gains recognized in earnings |  |  | (1 | )
Fair value as of December 31, 2017 |  | $ | 9 |
Investments in Available-For-Sale Equity Securities | The following table provides information relating to the company’s investments in available-for-sale equity securities.
(in millions) |  | Amortized cost |  |  | Unrealized gains |  |  | Unrealized losses |  |  | Fair value |
December 31, 2017 |  | $ | 8 |  |  | $ | — |  |  | $ | — |  |  | $ | 8 |
December 31, 2016 |  | $ | 13 |  |  | $ | — |  |  | $ | 4 |  |  | $ | 9 |
Book Values and Fair Values of Financial Instruments | the following table provides the values recognized in the consolidated balance sheets and the approximate fair values.
|  | Book values |  |  | Approximate fair values |
as of December 31 (in millions) |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | $ | 43 |  |  | $ | 31 |  |  | $ | 43 |  |  | $ | 31 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current maturities of long-term debt and lease obligations |  |  | 3 |  |  |  | 3 |  |  |  | 3 |  |  |  | 3 |
Long-term debt and lease obligations |  |  | 3,509 |  |  |  | 2,779 |  |  |  | 3,595 |  |  |  | 2,756 |
Summarization of Bases Used to Measure Fair Value of Financial Instruments | The following table summarizes the bases used to measure the approximate fair value of the financial instruments as of December 31, 2017 and 2016.
|  |  |  |  |  | Basis of fair value measurement |
(in millions) |  | Balance as of December 31, 2017 |  |  | Quoted prices in active markets for identical assets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | $ | 43 |  |  | $ | — |  |  | $ | — |  |  | $ | 43 |
Total assets |  | $ | 43 |  |  | $ | — |  |  | $ | — |  |  | $ | 43 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current maturities of long-term debt and lease obligations |  |  | 3 |  |  |  | — |  |  |  | 3 |  |  |  | — |
Long-term debt and lease obligations |  |  | 3,595 |  |  |  | — |  |  |  | 3,595 |  |  |  | — |
Total liabilities |  | $ | 3,598 |  |  | $ | — |  |  | $ | 3,598 |  |  | $ | — |
|  |  |  |  |  | Basis of fair value measurement |
(in millions) |  | Balance as of December 31, 2016 |  |  | Quoted prices in active markets for identical assets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | $ | 31 |  |  | $ | — |  |  | $ | — |  |  | $ | 31 |
Total assets |  | $ | 31 |  |  | $ | — |  |  | $ | — |  |  | $ | 31 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current maturities of long-term debt and lease obligations |  |  | 3 |  |  |  | — |  |  |  | 3 |  |  |  | — |
Long-term debt and lease obligations |  |  | 2,756 |  |  |  | — |  |  |  | 2,756 |  |  |  | — |
Total liabilities |  | $ | 2,759 |  |  | $ | — |  |  | $ | 2,759 |  |  | $ | — |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 + Details
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