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Derivative Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Outstanding Foreign Currency Forward Contracts

Forward currency contracts consist of (in millions):

 

 

 

Currency Denomination

 

Currency

 

December 31, 2019

 

 

December 31, 2018

 

South Korean Won

 

KRW

 

 

17,600

 

 

KRW

 

 

—

 

Norwegian Krone

 

NOK

 

 

5,377

 

 

NOK

 

 

5,229

 

Russian Ruble

 

RUB

 

 

1,012

 

 

RUB

 

 

—

 

U.S. Dollar

 

USD

 

 

686

 

 

USD

 

 

631

 

Euro

 

EUR

 

 

188

 

 

EUR

 

 

172

 

South African Rand

 

ZAR

 

 

124

 

 

ZAR

 

 

124

 

Mexican Peso

 

MXN

 

 

115

 

 

MXN

 

 

204

 

Singapore Dollar

 

SGD

 

 

42

 

 

SGD

 

 

—

 

Japanese Yen

 

JPY

 

 

36

 

 

JPY

 

 

121

 

Danish Krone

 

DKK

 

 

21

 

 

DKK

 

 

35

 

British Pound Sterling

 

GBP

 

 

20

 

 

GBP

 

 

12

 

Canadian Dollar

 

CAD

 

 

3

 

 

CAD

 

 

—

 
Derivative Instruments and their Balance Sheet Classifications

The Company has the following fair values of its derivative instruments and their balance sheet classifications (in millions):

 

 

 

Fair Values of Derivative Instruments

(In millions)

 

 

 

Asset Derivatives

 

 

Liability Derivatives

 

 

 

 

 

Fair Value

 

 

 

 

Fair Value

 

 

 

Balance Sheet

 

December 31,

 

 

Balance Sheet

 

December 31,

 

 

 

Location

 

2019

 

 

2018

 

 

Location

 

2019

 

 

2018

 

Derivatives designated as hedging

   instruments under ASC Topic 815

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

Prepaid and other current assets

 

$

5

 

 

$

2

 

 

Accrued liabilities

 

$

18

 

 

$

17

 

Foreign exchange contracts

 

Other Assets

 

 

4

 

 

 

—

 

 

Other Liabilities

 

 

2

 

 

 

11

 

Total derivatives designated as hedging

   instruments under ASC Topic 815

 

 

 

$

9

 

 

$

2

 

 

 

 

$

20

 

 

$

28

 

Derivatives not designated as hedging

   instruments under ASC Topic 815

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign exchange contracts

 

Prepaid and other current assets

 

$

8

 

 

$

4

 

 

Accrued liabilities

 

$

6

 

 

$

6

 

Foreign exchange contracts

 

Other Assets

 

 

1

 

 

 

—

 

 

Other Liabilities

 

 

—

 

 

 

2

 

Total derivatives not designated

   as hedging instruments under ASC

   Topic 815

 

 

 

$

9

 

 

$

4

 

 

 

 

$

6

 

 

$

8

 

Total derivatives

 

 

 

$

18

 

 

$

6

 

 

 

 

$

26

 

 

$

36