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Financial Instruments and Fair Value Measurements - (Tables)

9 Months Ended

Sep. 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 September 30, 2019 and December 31, 2018.

(in millions)	Level 1			Level 2			Total
September 30, 2019
Cash equivalents:
Money market mutual funds	$	51		$	—		51
U.S. treasuries	—			4			4
Total cash equivalents	51			4			55
Investments:
Asset-backed securities	—			30			30
Corporate bonds	—			98			98
U.S. government agencies and government-sponsored agencies	—			5			5
U.S. treasuries	—			54			54
Other debt securities	—			7			7
Total investments	—			194			194
Restricted cash equivalents:
Money market mutual funds	43			—			43
Commercial paper	18			—			18
Total restricted cash equivalents	61			—			61
Restricted investments:
U.S. treasuries	—			—			—
Exchange traded fund	1			—			1
Certificate of deposit	—			—			—
Total restricted investments	1			—			1
Total unrestricted and restricted cash equivalents and investments	$	113		$	198		$	311

(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 September 30, 2019:

	September 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 September 30, 2019:

	September 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		$	—		$	—

X

- 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

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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

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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

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