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Financial Instruments and Fair Value Measurements - (Tables) | 9 Months Ended
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Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract] |
Summary of Financial Instruments by Significant Categories and Fair Value Measurement on a Recurring Basis | The following tables summarizes our financial instruments by significant categories and fair value measurement on a recurring basis as of September 30, 2020 and December 31, 2019.
(in millions) | Level 1 | Level 2 | Total
September 30, 2020 |  |  |
Cash equivalents: |  |  |
Money market mutual funds | $ | 7 |  | $ | — |  | 7 |
Total cash equivalents | 7 |  | — |  | 7 |
Investments: |  |  |
Asset-backed securities | — |  | 22 |  | 22 |
Corporate bonds | — |  | 90 |  | 90 |
U.S. government agencies and government-sponsored agencies | — |  | 6 |  | 6 |
U.S. treasuries | — |  | 77 |  | 77 |
Other debt securities | — |  | 7 |  | 7 |
Total investments | — |  | 202 |  | 202 |
Restricted cash equivalents: |  |  |
Money market mutual funds | 84 |  | — |  | 84 |
Commercial paper | 13 |  | — |  | 13 |
Total restricted cash equivalents | 97 |  | — |  | 97 |
Restricted investments: |  |  |
Corporate bonds | — |  | 31 |  | 31 |
U.S. government agencies and government-sponsored agencies | — |  | 14 |  | 14 |
U.S. treasuries | — |  | 213 |  | 213 |
Total restricted investments | — |  | 258 |  | 258 |
Total cash equivalents and investments and restricted cash equivalents and investments | $ | 104 |  | $ | 460 |  | $ | 564 |
(in millions) | Level 1 | Level 2 | Total
December 31, 2019 |  |  |
Cash equivalents |  |  |
Money market mutual funds | $ | 89 |  | $ | — |  | $ | 89 |
U.S. treasuries | — |  | 3 |  | 3 |
Total cash equivalents | 89 |  | 3 |  | 92 |
Investments |  |  |
Asset-backed securities | — |  | 30 |  | 30 |
Corporate bonds | — |  | 96 |  | 96 |
U.S. government agencies and government-sponsored agencies | — |  | 5 |  | 5 |
U.S. treasuries | — |  | 53 |  | 53 |
Other debt securities | — |  | 10 |  | 10 |
Total investments | — |  | 194 |  | 194 |
Restricted cash equivalents: |  |  |
Money market mutual funds | 42 |  | — |  | 42 |
U.S. treasuries | — |  | 12 |  | 12 |
Certificate of deposit | — |  | 2 |  | 2 |
Commercial paper | 14 |  | — |  | 14 |
Total restricted cash equivalents | 56 |  | 14 |  | 70 |
Restricted investments: |  |  |
Corporate bonds | — |  | 28 |  | 28 |
U.S. government agencies and government-sponsored agencies | — |  | 9 |  | 9 |
U.S. treasuries | — |  | 110 |  | 110 |
Certificate of deposit | — |  | 1 |  | 1 |
Total restricted investments | — |  | 148 |  | 148 |
Total investments and restricted cash equivalents and investments | $ | 145 |  | $ | 359 |  | $ | 504 |
Schedule of Cash Flow Hedging Instruments | The following table summarizes the fair value of our derivative instruments at September 30, 2020:
|  |  |  | Fair Market Value |  |  |  |  |  |
|  |  |  | September 30, 2020 |  |  |  | December 31, 2019 |  |
(in millions) | Hedge type | Final settlement date | Notional amount | Other current assets |  | Accounts payable and other current liabilities |  | Other current assets | Accounts payable and other current liabilities |
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |  |  |
Collar - LIBOR | Cash flow | May 2022 | $ | 213 |  | $ | — |  |  | $ | 1 |  |  | $ | — |  | $ | — |  |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following table summarizes the fair value of our derivative instruments at September 30, 2020:
|  |  |  | Fair Market Value |  |  |  |  |  |
|  |  |  | September 30, 2020 |  |  |  | December 31, 2019 |  |
(in millions) | Hedge type | Final settlement date | Notional amount | Other current assets |  | Accounts payable and other current liabilities |  | Other current assets | Accounts payable and other current liabilities |
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |  |  |
Collar - LIBOR | Cash flow | May 2022 | $ | 213 |  | $ | — |  |  | $ | 1 |  |  | $ | — |  | $ | — |  |

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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=121590274&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=121590274&loc=SL5579245-113959 + Details
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