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Financial Instruments and Fair Value Measurements - (Tables)

9 Months Ended

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					$	—		$	—

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=121590274&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=121590274&loc=SL5579245-113959

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