Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis

The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of June 30, 2022:

(in millions)	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	360	$	—	$	—	$	360
Time deposits	—		229		—		229
Commercial paper	—		205		—		205
Short-term investments:
Time deposits	—		40		—		40
Equity investment security	26		—		—		26
Available-for-sale investment securities:
Certificates of deposit and commercial paper	—		448		—		448
Other current assets:
Foreign exchange forward contracts	—		9		—		9
Long-term investments:
Restricted time deposits(1)	—		375		—		375
Accrued expenses and other current liabilities:
Foreign exchange forward and option contracts	—		(21)		—		(21)
Contingent consideration liabilities	—		—		(21)		(21)
Other noncurrent liabilities:
Foreign exchange forward contracts	—		(10)		—		(10)
Contingent consideration liabilities	—		—		(16)		(16)

(1)See Note 6.

The following table summarizes the financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2021:

(in millions)	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	507	$	—	$	—	$	507
Time deposits	—		4		—		4
Commercial paper	—		266		—		266
Short-term investments:
Time deposits	—		554		—		554
Equity investment security	26		—		—		26
Available-for-sale investment securities:
Commercial paper	—		310		—		310
Other current assets:
Foreign exchange forward and option contracts	—		54		—		54
Long-term investments:
Restricted time deposits(1)	—		397		—		397
Other noncurrent assets:
Foreign exchange forward and option contracts	—		15		—		15
Accrued expenses and other current liabilities:
Foreign exchange forward and option contracts	—		(7)		—		(7)
Contingent consideration liabilities	—		—		(14)		(14)
Other noncurrent liabilities:
Contingent consideration liabilities	—		—		(21)		(21)

(1)See Note 6.

Summary of Changes in Level 3 Contingent Consideration Liabilities

The following table summarizes the changes in Level 3 contingent consideration liabilities for the six months ended June 30:

(in millions)	2022		2021
Beginning balance	$	35	$	54
Initial measurement recognized at acquisition	1		8
Change in fair value recognized in SG&A expenses	5		(19)
Payments	(4)		(3)
Ending balance	$	37	$	40