Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Summary of Estimated Fair Value and Carrying Amount of Financial Instruments Measured on a Recurring Basis

The following table summarizes the estimated fair value and carrying amount of our financial instruments measured on a recurring basis:

			December 31, 2018						December 31, 2017
	Fair value hierarchy		Carrying amount			Estimated fair value			Carrying amount			Estimated fair value
Assets:
Notes hedges		3		24			24			301			301
Other financial assets		2		32			32			29			29
Derivative instruments-assets		2		6			6			10			10

Liabilities:
Short-term debt		2		(2	)		(2	)		(2	)		(2	)
Short-term debt (bonds)		2		-			-			(749	)		(755	)
Short-term debt (2019 Cash Convertible Senior Notes)		2		(1,105	)		(1,327	)		(1,059	)		(1,418	)
Long-term debt (bonds)		2		(6,222	)		(6,191	)		(4,728	)		(4,879	)
Other long-term debt		2		(25	)		(25	)		(27	)		(27	)
Notes Embedded Conversion Derivative		3		(24	)		(24	)		(301	)		(301	)
Derivative instruments-liabilities		2		(2	)		(2	)		-			-

- 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.

+ References + Details