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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Fair value of assets measured on recurring basis
Our financial instruments measured at fair value on a recurring basis at December 31, 2020, were as follows:
TotalLevel 1Level 2Level 3
 (In millions)
Corporate debt securities$1,256 $— $1,256 $— 
Mortgage-backed securities392 — 392 — 
Asset-backed securities132 — 132 — 
Municipal securities68 — 68 — 
U.S. Treasury notes27 — 27 — 
Total assets$1,875 $— $1,875 $— 
Contingent consideration liabilities$46 $— $— $46 
Total liabilities$46 $— $— $46 
Our financial instruments measured at fair value on a recurring basis at December 31, 2019, were as follows:
TotalLevel 1Level 2Level 3
 (In millions)
Corporate debt securities$1,178 $— $1,178 $— 
Mortgage-backed securities420 — 420 — 
Asset-backed securities127 — 127 — 
Municipal securities
78 — 78 — 
U.S. Treasury notes86 — 86 — 
Government-sponsored enterprise securities (“GSEs”)49 — 49 — 
Certificate of deposit1 — 1 — 
Other7 — 7 — 
Subtotal1,946 — 1,946 — 
Call option derivative asset29 — — 29 
Total assets$1,975 $— $1,946 $29 
Conversion option derivative liability$29 $— $— $29 
Total liabilities$29 $— $— $29 
Fair value, by balance sheet grouping
The following table summarizes the fair values and the presentation of our derivative financial instruments in the accompanying consolidated balance sheets:
December 31,
Balance Sheet Location20202019
 (In millions)
Derivative asset:
Call OptionCurrent assets: Prepaid expenses and other current assets$— $29 
Derivative liability:
Conversion OptionCurrent liabilities: Accounts payable, accrued liabilities and other$— $29 
Fair value measurements of senior notes
 December 31, 2020December 31, 2019
 Carrying
Amount		Fair Value Carrying
Amount		Fair Value
 (In millions)
4.375% Notes
$789 $843 $— $— 
5.375% Notes
697 742 696 745 
3.875% Notes
641 691 — — 
4.875% Notes (1)
— — 327 340 
Term Loan Facility (1)
— — 220 220 
1.125% Convertible Notes (1)
— — 12 42 
Total$2,127 $2,276 $1,255 $1,347 
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(1)     For more information on debt repayments, refer to Note 11, “Debt.”