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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2020
Fair Value Disclosures [Abstract] |
Assets and Liabilities at Fair Value | The following table presents information about assets and liabilities recorded at fair value on the Consolidated Balance Sheet at December 31:
|  | Total Carrying Value in the Consolidated Balance Sheet |  |  | Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
(In millions) |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments |  | $ | 11 |  |  | $ | 11 |  |  | $ | 11 |  |  | $ | 11 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Foreign Exchange Contracts |  |  | 1 |  |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 11 |  |  |  | — |  |  |  | — |
Total Assets at Fair Value |  | $ | 12 |  |  | $ | 22 |  |  | $ | 11 |  |  | $ | 11 |  |  | $ | 1 |  |  | $ | 11 |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign Exchange Contracts |  | $ | 34 |  |  | $ | 19 |  |  | $ | — |  |  | $ | — |  |  | $ | 34 |  |  | $ | 19 |  |  | $ | — |  |  | $ | — |
Total Liabilities at Fair Value |  | $ | 34 |  |  | $ | 19 |  |  | $ | — |  |  | $ | — |  |  | $ | 34 |  |  | $ | 19 |  |  | $ | — |  |  | $ | — |
Supplemental Fair Value Information | The following table presents supplemental fair value information about long term fixed rate and variable rate debt, excluding finance leases, at December 31:
|  | December 31, |  |  | December 31, |
(In millions) |  | 2020 |  |  | 2019 |
Fixed Rate Debt(1): |  |  |  |  |  |  |  |
Carrying amount — liability |  | $ | 4,094 |  |  | $ | 3,434 |
Fair value — liability |  |  | 4,283 |  |  |  | 3,558 |
Variable Rate Debt(1): |  |  |  |  |  |  |  |
Carrying amount — liability |  | $ | 1,240 |  |  | $ | 1,632 |
Fair value — liability |  |  | 1,197 |  |  |  | 1,632 |
(1) | Excludes Notes Payable and Overdrafts of $406 million and $348 million at December 31, 2020 and 2019, respectively, of which $227 million and $143 million, respectively, are at fixed rates and $179 million and $205 million, respectively, are at variable rates. The carrying value of Notes Payable and Overdrafts approximates fair value due to the short term nature of the facilities.

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