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Financial Instruments and Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of fair value, assets and liabilities measured on recurring basis

The Company's assets and liabilities measured or disclosed at fair value were as follows:

						Fair value measurements at September 30, 2021 using
(in millions)			Total			Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)
Current assets:
Cash equivalents			$	150		150			—			—
Financial instrument asset (note 5)			92			—			92			—
Current liabilities:
Debt (note 5)			549			—			549			—
Interest rate swap arrangements (note 5)			2			—			2			—
Long-term liabilities:
Debt (note 5)			4,699			749			3,950			—

						Fair value measurements at December 31, 2020 using
(in millions)			Total			Quoted prices in active markets for identical assets (Level 1)			Significant other observable inputs (Level 2)			Significant unobservable inputs (Level 3)
Current assets:
Cash equivalents			$	240		240			—			—
Financial instrument asset (note 5)			23						23			—
Current liabilities:
Debt (note 5)			393			—			393			—
Long-term liabilities:
Debt (note 5)			4,705			743			3,962			—
Interest rate swap arrangements (note 5)			3			—			3			—

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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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