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Fair Value of Financial Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2019

Fair Value Disclosures [Abstract]

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 is Level 2. 

(in millions)		March 31, 2019				December 31, 2018
Assets:
Foreign exchange contract - forward		$	3			$	3
Total Assets		$	3			$	3
Liabilities:
Foreign exchange contracts - forwards		$	1			$	1
Total Liabilities		$	1			$	1

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:

	March 31, 2019						December 31, 2018
(in millions)	Carrying Amount			Fair Value			Carrying Amount			Fair Value
Assets:
Assets held for sale	—			—			15			15
Liabilities:
Long-term debt	1,496			1,478			1,512			1,463
Liabilities held for sale	—			—			40			40

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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