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Financial instruments (Tables) | 6 Months Ended
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Jun. 30, 2020
Financial Instruments [Abstract] |
Disclosure of fair value measurement of assets | Financial assets
|  | Long-term financial investments measured at FVOCI |  | Financial investments measured at FVPL
($ millions) |  | 2020 |  | 2019 |  |  | 2020 |  | 2019 |
Balance as of January 1 |  | 31 |  | 19 |  |  | 61 |  | 98 |
Additions |  | — |  | 8 |  |  | — |  | 1 |
Cash receipts and payments |  | — |  | — |  |  | — |  | — |
(Losses) recognized in consolidated statements of comprehensive (loss)/income |  | (10 | ) | (7 | ) |  | — |  | — |
Gain/(losses) in consolidated income statements |  | — |  | — |  |  | 3 |  | 3 |
Amortization |  | — |  | — |  |  | (23 | ) | (29 | )
Reclassification |  | — |  | 2 |  |  | — |  | — |
Balance as of June 30 |  | 21 |  | 22 |  |  | 41 |  | 73 |
The below tables summarize financial assets and liabilities measured at fair value on a recurring basis or at amortized cost or cost as of June 30, 2020 and December 31, 2019.
| June 30, 2020
($ millions) | Level 1 |  | Level 2 |  | Level 3 |  | Valued at amortized cost or cost(3) |  | Total |
Non-current financial assets |  |  |  |  |
Long-term financial investments measured at FVOCI | — |  | — |  | 21 |  | — |  | 21 |
Long-term financial investments measured at FVPL | — |  | — |  | 27 |  | — |  | 27 |
Long-term receivables from customers | — |  | — |  | — |  | 107 |  | 107 |
Deferred compensation assets(1) | 118 |  | — |  | — |  | — |  | 118 |
Non-current minimum lease payments from finance lease agreements | — |  | — |  | — |  | 59 |  | 59 |
Long-term loans, advances, and security deposits | — |  | — |  | — |  | 19 |  | 19 |
Total non-current financial assets | 118 |  | — |  | 48 |  | 185 |  | 351 |
Current financial assets |  |  |  |  |
Money market funds | 795 |  | — |  | — |  | — |  | 795 |
Current portion of long-term financial investments measured at FVPL(2) | — |  | — |  | 14 |  | — |  | 14 |
Current portion of long-term receivables from customers(2) | — |  | — |  | — |  | 116 |  | 116 |
Current portion of minimum lease payments from finance lease agreements(2) | — |  | — |  | — |  | 41 |  | 41 |
Other receivables, security deposits and current assets(2) | — |  | — |  | — |  | 127 |  | 127 |
VAT receivables(2) | — |  | — |  | — |  | 48 |  | 48 |
Derivative financial instruments(2) | — |  | 2 |  | — |  | — |  | 2 |
Total current financial assets | 795 |  | 2 |  | 14 |  | 332 |  | 1,143 |
Total financial assets at fair value and amortized cost or cost | 913 |  | 2 |  | 62 |  | 517 |  | 1,494 |
Financial liabilities |  |  |  |  |
Contingent consideration liabilities | — |  | — |  | (192 | ) | — |  | (192 | )
Non-current financial debt | — |  | — |  | — |  | (3,909 | ) | (3,909 | )
Current financial debt | — |  | — |  | — |  | (234 | ) | (234 | )
Derivative financial instruments | — |  | (1 | ) | — |  | — |  | (1 | )
Total financial liabilities at fair value and amortized cost | — |  | (1 | ) | (192 | ) | (4,143 | ) | (4,336 | )
(1) | Recorded in Other non-current assets.
(2) | Recorded in Other current assets.
(3) | Carrying amount is a reasonable approximation of fair value, with the exception of Series 2026, 2029, 2030, and 2049 notes recorded in Non-current financial debt with a fair value of $2,921 million and a carrying value of $2,724 million as of June 30, 2020. The fair value of notes was determined using level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
| December 31, 2019
($ millions) | Level 1 |  | Level 2 |  | Level 3 |  | Valued at amortized cost or cost(3) |  | Total |
Non-current financial assets |  |  |  |  |
Long-term financial investments measured at FVOCI | — |  | — |  | 31 |  | — |  | 31 |
Long-term financial investments measured at FVPL | — |  | — |  | 28 |  | — |  | 28 |
Long-term receivables from customers | — |  | — |  | — |  | 136 |  | 136 |
Deferred compensation assets(1) | 122 |  | — |  | — |  | — |  | 122 |
Non-current minimum lease payments from finance lease agreements | — |  | — |  | — |  | 78 |  | 78 |
Long-term loans, advances, and security deposits | — |  | — |  | — |  | 34 |  | 34 |
Total non-current financial assets | 122 |  | — |  | 59 |  | 248 |  | 429 |
Current financial assets |  |  |  |  |
Money market funds | 120 |  | — |  | — |  | — |  | 120 |
Current portion of long-term financial investments measured at FVPL(2) | — |  | — |  | 33 |  | — |  | 33 |
Current portion of long-term receivables from customers(2) | — |  | — |  | — |  | 122 |  | 122 |
Current portion of minimum lease payments from finance lease agreements(2) | — |  | — |  | — |  | 46 |  | 46 |
Other receivables, security deposits and current assets(2) | — |  | — |  | — |  | 147 |  | 147 |
VAT receivables(2) | — |  | — |  | — |  | 64 |  | 64 |
Derivative financial instruments(2) | — |  | 1 |  | — |  | — |  | 1 |
Total current financial assets | 120 |  | 1 |  | 33 |  | 379 |  | 533 |
Total financial assets at fair value and amortized cost or cost | 242 |  | 1 |  | 92 |  | 627 |  | 962 |
Financial liabilities |  |  |  |  |
Contingent consideration liabilities | — |  | — |  | (243 | ) | — |  | (243 | )
Non-current financial debt | — |  | — |  | — |  | (3,218 | ) | (3,218 | )
Current financial debt | — |  | — |  | — |  | (245 | ) | (245 | )
Derivative financial instruments | — |  | (16 | ) | — |  | — |  | (16 | )
Total financial liabilities at fair value and amortized cost | — |  | (16 | ) | (243 | ) | (3,463 | ) | (3,722 | )
(1) | Recorded in Other non-current assets.
(2) | Recorded in Other current assets.
(3) Carrying amount is a reasonable approximation of fair value, with the exception of Series 2026, 2029, and 2049 notes recorded in Non-current financial debt with a fair value of $2,049 million and a carrying value of $1,979 million as of December 31, 2019. The fair value of notes was determined using level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
Disclosure of fair value measurement of liabilities | The below tables summarize financial assets and liabilities measured at fair value on a recurring basis or at amortized cost or cost as of June 30, 2020 and December 31, 2019.
| June 30, 2020
($ millions) | Level 1 |  | Level 2 |  | Level 3 |  | Valued at amortized cost or cost(3) |  | Total |
Non-current financial assets |  |  |  |  |
Long-term financial investments measured at FVOCI | — |  | — |  | 21 |  | — |  | 21 |
Long-term financial investments measured at FVPL | — |  | — |  | 27 |  | — |  | 27 |
Long-term receivables from customers | — |  | — |  | — |  | 107 |  | 107 |
Deferred compensation assets(1) | 118 |  | — |  | — |  | — |  | 118 |
Non-current minimum lease payments from finance lease agreements | — |  | — |  | — |  | 59 |  | 59 |
Long-term loans, advances, and security deposits | — |  | — |  | — |  | 19 |  | 19 |
Total non-current financial assets | 118 |  | — |  | 48 |  | 185 |  | 351 |
Current financial assets |  |  |  |  |
Money market funds | 795 |  | — |  | — |  | — |  | 795 |
Current portion of long-term financial investments measured at FVPL(2) | — |  | — |  | 14 |  | — |  | 14 |
Current portion of long-term receivables from customers(2) | — |  | — |  | — |  | 116 |  | 116 |
Current portion of minimum lease payments from finance lease agreements(2) | — |  | — |  | — |  | 41 |  | 41 |
Other receivables, security deposits and current assets(2) | — |  | — |  | — |  | 127 |  | 127 |
VAT receivables(2) | — |  | — |  | — |  | 48 |  | 48 |
Derivative financial instruments(2) | — |  | 2 |  | — |  | — |  | 2 |
Total current financial assets | 795 |  | 2 |  | 14 |  | 332 |  | 1,143 |
Total financial assets at fair value and amortized cost or cost | 913 |  | 2 |  | 62 |  | 517 |  | 1,494 |
Financial liabilities |  |  |  |  |
Contingent consideration liabilities | — |  | — |  | (192 | ) | — |  | (192 | )
Non-current financial debt | — |  | — |  | — |  | (3,909 | ) | (3,909 | )
Current financial debt | — |  | — |  | — |  | (234 | ) | (234 | )
Derivative financial instruments | — |  | (1 | ) | — |  | — |  | (1 | )
Total financial liabilities at fair value and amortized cost | — |  | (1 | ) | (192 | ) | (4,143 | ) | (4,336 | )
(1) | Recorded in Other non-current assets.
(2) | Recorded in Other current assets.
(3) | Carrying amount is a reasonable approximation of fair value, with the exception of Series 2026, 2029, 2030, and 2049 notes recorded in Non-current financial debt with a fair value of $2,921 million and a carrying value of $2,724 million as of June 30, 2020. The fair value of notes was determined using level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes.
| December 31, 2019
($ millions) | Level 1 |  | Level 2 |  | Level 3 |  | Valued at amortized cost or cost(3) |  | Total |
Non-current financial assets |  |  |  |  |
Long-term financial investments measured at FVOCI | — |  | — |  | 31 |  | — |  | 31 |
Long-term financial investments measured at FVPL | — |  | — |  | 28 |  | — |  | 28 |
Long-term receivables from customers | — |  | — |  | — |  | 136 |  | 136 |
Deferred compensation assets(1) | 122 |  | — |  | — |  | — |  | 122 |
Non-current minimum lease payments from finance lease agreements | — |  | — |  | — |  | 78 |  | 78 |
Long-term loans, advances, and security deposits | — |  | — |  | — |  | 34 |  | 34 |
Total non-current financial assets | 122 |  | — |  | 59 |  | 248 |  | 429 |
Current financial assets |  |  |  |  |
Money market funds | 120 |  | — |  | — |  | — |  | 120 |
Current portion of long-term financial investments measured at FVPL(2) | — |  | — |  | 33 |  | — |  | 33 |
Current portion of long-term receivables from customers(2) | — |  | — |  | — |  | 122 |  | 122 |
Current portion of minimum lease payments from finance lease agreements(2) | — |  | — |  | — |  | 46 |  | 46 |
Other receivables, security deposits and current assets(2) | — |  | — |  | — |  | 147 |  | 147 |
VAT receivables(2) | — |  | — |  | — |  | 64 |  | 64 |
Derivative financial instruments(2) | — |  | 1 |  | — |  | — |  | 1 |
Total current financial assets | 120 |  | 1 |  | 33 |  | 379 |  | 533 |
Total financial assets at fair value and amortized cost or cost | 242 |  | 1 |  | 92 |  | 627 |  | 962 |
Financial liabilities |  |  |  |  |
Contingent consideration liabilities | — |  | — |  | (243 | ) | — |  | (243 | )
Non-current financial debt | — |  | — |  | — |  | (3,218 | ) | (3,218 | )
Current financial debt | — |  | — |  | — |  | (245 | ) | (245 | )
Derivative financial instruments | — |  | (16 | ) | — |  | — |  | (16 | )
Total financial liabilities at fair value and amortized cost | — |  | (16 | ) | (243 | ) | (3,463 | ) | (3,722 | )
(1) | Recorded in Other non-current assets.
(2) | Recorded in Other current assets.
(3) Carrying amount is a reasonable approximation of fair value, with the exception of Series 2026, 2029, and 2049 notes recorded in Non-current financial debt with a fair value of $2,049 million and a carrying value of $1,979 million as of December 31, 2019. The fair value of notes was determined using level 2 inputs. The notes were valued using the quoted market price for such notes, which have low trading volumes. Financial liabilities
| Contingent consideration liabilities
($ millions) | 2020 |  | 2019 |
Balance as of January 1 | (243 | ) | (162 | )
Additions | — |  | (135 | )
Accretion for passage of time | (9 | ) | (9 | )
Adjustments for changes in assumptions | 40 |  | 13 |
Payments | 20 |  | — |
Balance as of June 30 | (192 | ) | (293 | )

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