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FAIR VALUE MEASUREMENT (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of assets and liabilities at fair value

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:

						June 30, 2022
(in millions)						Total						Level 1						Level 2						Level 3
Assets
Cross currency basis swaps						$	26					$	—					$	26					$	—
Foreign exchange forward contracts						55						—						55						—
Long-term debt						25						—						25						—
Total assets						$	106					$	—					$	106					$	—
Liabilities
Interest rate swaps						$	25					$	—					$	25					$	—
Foreign exchange forward contracts						8						—						8						—
Contingent considerations on acquisitions						9						—						—						9
Total liabilities						$	42					$	—					$	33					$	9

						December 31, 2021
(in millions)						Total						Level 1						Level 2						Level 3
Assets
Interest rate swaps						$	5					$	—					$	5					$	—
Long-term debt						4						—						4						—
Cross currency basis swaps						4						—						4						—
Foreign exchange forward contracts						30						—						30						—
Total assets						$	43					$	—					$	43					$	—
Liabilities
Interest rate swaps						$	9					$	—					$	9					$	—
Cross currency basis swaps						7						—						7						—
Foreign exchange forward contracts						4						—						4						—
Contingent considerations on acquisitions						10						—						—						10
Total liabilities						$	30					$	—					$	20					$	10

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- References

No definition available.

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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=123874694&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=123874694&loc=d3e19207-110258

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