XML 64 R47.htm IDEA: XBRL DOCUMENT v3.10.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Company's Assets and Liabilities at Fair Value on Recurring Basis
The following table presents the fair value hierarchy level for each of the Company’s assets and liabilities that are measured and recorded at fair value on a recurring basis.
 
 
December 31, 2018
 
December 31, 2017
Description
 
Level 1(1)
 
Level 2(2)
 
Level 3(3)
 
Level 1(1)
 
Level 2(2)
 
Level 3(3)
 
 
(in millions)
Assets
 
 
 
 
 
 
 
 
 
 
 
 
Cash equivalents
 
$
660

 
$
—

 
$
—

 
$
310

 
$
—

 
$
—

Derivatives (foreign currency forward contracts)
 
—

 
1

 
—

 
—

 
11

 
—

Total assets
 
$
660

 
$
1

 
$
—

 
$
310

 
$
11

 
$
—

 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives (foreign currency forward contracts)
 
$
—

 
$
17

 
$
—

 
$
—

 
$
1

 
$
—

Contingent consideration
 
—

 
—

 
20

 
—

 
—

 
31

Total liabilities
 
$
—

 
$
17

 
$
20

 
$
—

 
$
1

 
$
31

__________________
(1) 
Level 1 is based on quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Cash equivalents are primarily held in registered money market funds, which are valued using quoted market prices.
(2) 
Level 2 is based on pricing inputs other than quoted prices in active markets, which are either directly or indirectly observable. The fair value is determined using a valuation model based on observable market inputs, including quoted foreign currency forward exchange rates and consideration of non-performance risk.
(3) 
Level 3 is based on pricing inputs that are not observable and not corroborated by market data.
Changes to Contingent Consideration Obligations
The table below presents the changes to contingent consideration obligations during the year ended December 31, 2018.
 
December 31, 2018
 
(in millions)
Balance at beginning of period
$
31

Acquisitions and investments
11

Cash payments
(7
)
Changes in fair value of contingent consideration, net
(15
)
Balance at end of period
$
20