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Financial instruments (Tables)
 6 Months Ended
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
)