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FAIR VALUE MEASUREMENT (Tables) | 12 Months Ended
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Dec. 31, 2020
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets and Liabilities that are Recorded at Fair Value and Classified Based on the Lowest Level of Input | The Company’s financial assets and liabilities set forth by level within the fair value hierarchy that were accounted for at fair value on a recurring basis were as follows:
|  | Year Ended December 31, 2020
(in millions) |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |
Foreign exchange forward contracts |  | $ | 10 |  |  | $ | — |  |  | $ | 10 |  |  | $ | — |
Total assets |  | $ | 10 |  |  | $ | — |  |  | $ | 10 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |
Cross currency interest rate swaps |  | $ | 20 |  |  | $ | — |  |  | $ | 20 |  |  | $ | — |
Foreign exchange forward contracts |  | 15 |  |  | — |  |  | 15 |  |  | — |
Contingent considerations on acquisitions |  | 5 |  |  | — |  |  | — |  |  | 5 |
Total liabilities |  | $ | 40 |  |  | $ | — |  |  | $ | 35 |  |  | $ | 5 |
|  | Year Ended December 31, 2019
(in millions) |  | Total |  | Level 1 |  | Level 2 |  | Level 3
Assets |  |  |  |  |  |  |  |
Cross currency interest rate swaps |  | $ | 7 |  |  | $ | — |  |  | $ | 7 |  |  | $ | — |
Foreign exchange forward contracts |  | 40 |  |  | — |  |  | 40 |  |  | — |
Total assets |  | $ | 47 |  |  | $ | — |  |  | $ | 47 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |
Interest rate swaps |  | $ | 11 |  |  | $ | — |  |  | $ | 11 |  |  | $ | — |
Foreign exchange forward contracts |  | 4 |  |  | — |  |  | 4 |  |  | — |
Contingent considerations on acquisitions |  | 9 |  |  | — |  |  | — |  |  | 9 |
Total liabilities |  | $ | 24 |  |  | $ | — |  |  | $ | 15 |  |  | $ | 9 |
Schedule of Reconciliation of the Company's Assets Measured at Fair Value on a Recurring Basis Using Unobservable Inputs (Level 3) | The following table presents a reconciliation of the Company’s Level 3 holdings measured at fair value on a recurring basis using unobservable inputs:
(in millions) |  | Level 3 |  |  |  |
Balance, December 31, 2018 |  | $ | 9 |  |  |  |  |
Unrealized gain: |  |  |  |  |  |
Reported in Other expense (income), net |  | 2 |  |  |  |  |
Payments |  | (2) |  |  |  |  |
Effect of exchange rate changes |  | — |  |  |  |  |
Balance, December 31, 2019 |  | $ | 9 |  |  |  |  |
Unrealized gain: |  |  |  |  |  |
Reported in Other expense (income), net |  | — |  |  |  |  |
Payments |  | (4) |  |  |  |  |
Effect of exchange rate changes |  | — |  |  |  |  |
Balance, December 31, 2020 |  | $ | 5 |  |  |  |  |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 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 (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2003/role/disclosureRef -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://www.xbrl.org/2003/role/disclosureRef -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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