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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2019
Fair Value Disclosures [Abstract] |
Assets and liabilities measured at fair value |
|  |  | Basis of fair value measurements |  |
| Balance at December 31, 2019 |  | Quoted prices in active markets for identical items (Level 1) |  | Significant other observable inputs (Level 2) |  | Significant unobservable inputs (Level 3) |  | Valuation technique
(in millions) |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Net investment hedge contracts | $ | 3 |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | A
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | A
Net investment hedge contracts | $ | 8 |  |  | $ | — |  |  | $ | 8 |  |  | $ | — |  |  | A
|  |  | Basis of fair value measurements |  |
(in millions) | Balance at December 31, 2018 |  | Quoted prices in active markets for identical items (Level 1) |  | Significant other observable inputs (Level 2) |  | Significant unobservable inputs (Level 3) |  | Valuation technique
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts | $ | 3 |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | A
Other long-term receivables (insurance settlement agreement note receivable) | $ | 34 |  |  | $ | — |  |  | $ | 34 |  |  | $ | — |  |  | C
Net investment hedge contracts | $ | 12 |  |  | $ | — |  |  | $ | 12 |  |  | $ | — |  |  | A
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | A
Fair value defined benefit plan assets measured at recurring and non-recurring basis |
|  |  | Basis of fair value measurements
(in millions) | Balance at December 31, 2019 |  | Quoted prices in active markets for identical items (Level 1) |  | Significant other observable inputs (Level 2) |  | Significant unobservable inputs (Level 3) (a) |  | Valuation technique |  | Assets measured at NAV (b)
U.S. Plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income securities | $ | 88 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | — |  | 88 |
Equity securities | 59 |  |  | 8 |  |  | — |  |  | — |  |  | A |  | 51 |
Real estate and other | 29 |  |  | 15 |  |  | — |  |  | — |  |  | A |  | 14 |
| $ | 176 |  |  | $ | 23 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 153 |
Non-U.S. Plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income securities | $ | 168 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | — |  | 168 |
Equity securities | 185 |  |  | 111 |  |  | — |  |  | — |  |  | A |  | 74 |
Insurance contract and other | 152 |  |  | — |  |  | — |  |  | 110 |  |  | C |  | 42 |
| $ | 505 |  |  | $ | 111 |  |  | $ | — |  |  | $ | 110 |  |  |  |  | $ | 284 |
|  |  | Basis of fair value measurements
(in millions) | Balance at December 31, 2018 |  | Quoted prices in active markets for identical items (Level 1) |  | Significant other observable inputs (Level 2) |  | Significant unobservable inputs (Level 3) |  | Valuation technique |  | Assets measured at NAV (b)
U.S. Plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income securities | $ | 122 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | A |  | 121 |
Equity securities | 71 |  |  | 11 |  |  | — |  |  | — |  |  | A |  | 60 |
Real estate and other | 23 |  |  | 18 |  |  | — |  |  | — |  |  | A |  | 5 |
| $ | 216 |  |  | $ | 30 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 186 |
Non-U.S. Plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income securities | $ | 239 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | — |  | 239 |
Equity securities | 163 |  |  | 93 |  |  | — |  |  | — |  |  | A |  | 70 |
Other | 36 |  |  | — |  |  | — |  |  | — |  |  | — |  | 36 |
| $ | 438 |  |  | $ | 93 |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | 345 |
________________
(a) | In 2019, the BW Plan, a defined benefit plan in the United Kingdom, purchased an insurance contract that guarantees payment of specified pension liabilities. The Company measures the fair value of the insurance asset by projecting expected future cash flows from the contract and discounting them to present value based on current market rates, including an assessment for non-performance risk of the insurance company. The assumptions used to project expected future cash flows are based on actuarial estimates and are unobservable; therefore, the contract is categorized within Level 3 of the hierarchy.
(b) | Certain assets that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. These amounts represent investments in commingled and managed funds which have underlying assets in fixed income securities, equity securities, and other assets.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation | The reconciliation of Level 3 defined benefit plans assets was as follows:
|  | Fair Value Measurements
(in millions) |  | Using Significant Unobservable Inputs (Level 3)
Balance at December 31, 2018 |  | $ | — |
Purchase of insurance contract |  | 106 |
Unrealized gains on assets still held at the reporting date |  | 2 |
Translation adjustment |  | 2 |
Balance at December 31, 2019 |  | $ | 110 |

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 + Details
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- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=118257860&loc=d3e4179-114921 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2439-114920 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2410-114920 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e2417-114920 + Details
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