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Financial Instruments and Fair Value Measurements - (Tables) | 6 Months Ended
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Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract] |
Summary of Financial Instruments by Significant Categories and Fair Value Measurement on a Recurring Basis | The following table summarizes our financial instruments by significant categories and fair value measurement on a recurring basis as of June 30, 2019 and December 31, 2018.
(in millions) | Level 1 | Level 2 | Total
June 30, 2019 |  |  |
Cash equivalents: |  |  |
Money market mutual funds | $ | 89 |  | $ | — |  | 89 |
Total cash equivalents | 89 |  | — |  | 89 |
Investments: |  |  |
Asset-backed securities | — |  | 35 |  | 35 |
Corporate bonds | — |  | 95 |  | 95 |
U.S. government agencies and government-sponsored agencies | — |  | 5 |  | 5 |
U.S. treasuries | — |  | 54 |  | 54 |
Other debt securities | — |  | 4 |  | 4 |
Total investments | — |  | 193 |  | 193 |
Restricted cash equivalents: |  |  |
Money market mutual funds | 43 |  | — |  | 43 |
Commercial paper | 18 |  | — |  | 18 |
Total restricted cash equivalents | 61 |  | — |  | 61 |
Restricted investments: |  |  |
U.S. treasuries | — |  | 5 |  | 5 |
Exchange traded fund | 1 |  | — |  | 1 |
Certificate of deposit | — |  | — |  | — |
Total restricted investments | 1 |  | 5 |  | 6 |
Total unrestricted and restricted cash equivalents and investments | $ | 151 |  | $ | 198 |  | $ | 349 |
(in millions) | Level 1 | Level 2 | Total
December 31, 2018 |  |  |
Cash equivalents |  |  |
Money market mutual funds | $ | 4 |  | $ | — |  | $ | 4 |
U.S. treasuries | — |  | 1 |  | 1 |
Total cash equivalents | 4 |  | 1 |  | 5 |
Investments |  |  |
Asset-backed securities | — |  | 33 |  | 33 |
Corporate bonds | — |  | 99 |  | 99 |
U.S. government agencies and government-sponsored agencies | — |  | 7 |  | 7 |
U.S. treasuries | — |  | 41 |  | 41 |
Other debt securities | — |  | 9 |  | 9 |
Total investments | — |  | 189 |  | 189 |
Restricted cash equivalents: |  |  |
Money market mutual funds | 48 |  | — |  | 48 |
Commercial paper | 20 |  | — |  | 20 |
Total restricted cash equivalents | 68 |  | — |  | 68 |
Restricted investments: |  |  |
U.S. treasuries | — |  | 5 |  | 5 |
Exchange traded fund | 1 |  | — |  | 1 |
Certificate of deposit | — |  | 2 |  | 2 |
Total restricted investments | 1 |  | 7 |  | 8 |
Total unrestricted and restricted cash equivalents and investments | $ | 73 |  | $ | 197 |  | $ | 270 |
Schedule of Cash Flow Hedging Instruments | The following table summarizes the fair value of our derivative instruments at June 30, 2019:
| June 30, 2019
|  |  |  | Fair Market Value
(in millions) | Hedge type | Final settlement date | Notional amount | Other current assets | Accounts payable and other current liabilities
Derivatives designated as hedging instruments |  |  |  |  |
Collar - LIBOR | Cash flow | May 2022 | $ | 213 |  | $ | — |  | $ | — |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the fair value of our derivative instruments at June 30, 2019:
| June 30, 2019
|  |  |  | Fair Market Value
(in millions) | Hedge type | Final settlement date | Notional amount | Other current assets | Accounts payable and other current liabilities
Derivatives designated as hedging instruments |  |  |  |  |
Collar - LIBOR | Cash flow | May 2022 | $ | 213 |  | $ | — |  | $ | — |
Fair Value | The following table summarizes the fair value of our derivative instruments at June 30, 2019:
| June 30, 2019
|  |  |  | Fair Market Value
(in millions) | Hedge type | Final settlement date | Notional amount | Other current assets | Accounts payable and other current liabilities
Derivatives designated as hedging instruments |  |  |  |  |
Collar - LIBOR | Cash flow | May 2022 | $ | 213 |  | $ | — |  | $ | — |
The pre-tax effect of derivative instruments for the three and six months ended June 30, 2019 is insignificant and we estimate that an insignificant amount of net derivative gains or losses included in other comprehensive income will be reclassified into earnings within the following 12 months. There were no cash flows associated with the derivative for the three months and six months ended June 30, 2019.

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -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 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 + Details
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