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Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Assets and Liabilities

The following table represents assets and liabilities measured at fair value on a recurring basis. The basis for the measurement at fair value in all cases was Level 2. 

(in millions)		December 31, 2018				December 31, 2017
Assets:
Foreign exchange contract - forward		$	3			$	2
Total Assets		$	3			$	2
Liabilities:
Foreign exchange contracts - forwards		$	1			$	1
Deferred compensation plan liabilities(1)		—				99
Total Liabilities		$	1			$	100

___________

(1) In September 2017, the Company terminated the legacy deferred compensation plans (Plans) and the Company Owned Life Insurance (COLI), which held the Plans’ investments. The Company made the payments to Plan participants in 2018.

Schedule of Estimated Fair Values of Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis

The estimated fair values of our other financial assets and liabilities were as follows:

	December 31, 2018								December 31, 2017
(in millions)	Carrying Amount				Fair Value				Carrying Amount				Fair Value
Assets:
Assets held for sale	$	15			$	15			$	757			$	757
Liabilities:
Long-term debt	$	1,512			$	1,463			$	1,979			$	2,070
Liabilities held for sale	$	40			$	40			$	169			$	169

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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