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Derivative Instruments (Tables)
 9 Months Ended
Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of fair value of outstanding derivative instruments
The fair values of our outstanding derivative instruments as of September 30, 2019 and December 31, 2018 were as follows (in millions):
 
Balance Sheet Location
 
September 30,
2019
 
December 31,
2018
Derivative Assets:
 
 
 
 
 
Foreign exchange contracts designated as cash flow hedges
Other Current Assets
 
$
73

 
$
72

Foreign exchange contracts designated as net investment hedges
Other Current Assets
 
3

 
—

Foreign exchange contracts not designated as hedging instruments
Other Current Assets
 
7

 
38

Warrant
Other Assets
 
204

 
148

Foreign exchange contracts designated as cash flow hedges
Other Assets
 
24

 
4

Interest rate contracts designated as fair value hedges
Other Assets
 
—

 
—

Total derivative assets
 
 
$
311

 
$
262

 
 
 
 
 
 
Derivative Liabilities:
 
 
 
 
 
Foreign exchange contracts designated as cash flow hedges
Other Current Liabilities
 
$
—

 
$
—

Foreign exchange contracts designated as net investment hedges
Other Current Liabilities
 
—

 
1

Interest rate contracts designated as fair value hedges
Other Current Liabilities
 
—

 
7

Foreign exchange contracts not designated as hedging instruments
Other Current Liabilities
 
15

 
30

Interest rate contracts designated as fair value hedges
Other Liabilities
 
—

 
10

Total derivative liabilities
 
 
$
15

 
$
48

 
 
 
 
 
 
Total fair value of derivative instruments
 
 
$
296

 
$
214


Impact of derivative contracts on accumulated other comprehensive income
The following tables present the activity of derivative instruments designated as cash flow hedges as of September 30, 2019 and December 31, 2018, and the impact of these derivative contracts on AOCI for the nine months ended September 30, 2019 and 2018 (in millions): 
 
December 31, 2018
 
Amount of Gain (Loss)
Recognized in Other
Comprehensive 
Income
 
Amount of Gain (Loss)
Reclassified From
AOCI to Earnings
 
September 30, 2019
Foreign exchange contracts designated as cash flow hedges
$
68

 
$
58

 
$
53

 
$
73


 
December 31, 2017
 
Amount of Gain (Loss)
Recognized in Other
Comprehensive 
Income
 
Amount of Gain (Loss)
Reclassified From
AOCI to Earnings
 
September 30, 2018
Foreign exchange contracts designated as cash flow hedges
$
(57
)
 
$
54

 
$
(37
)
 
$
34


Recognized gains or losses related to derivative instruments
The following table provides a summary of the total gain (loss) recognized in the condensed consolidated statement of income from our foreign exchange derivative contracts by location (in millions): 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2019

2018
 
2019
 
2018
Foreign exchange contracts designated as cash flow hedges recognized in net revenues
$
19

 
$
12

 
$
52

 
$
(37
)
Foreign exchange contracts designated as cash flow hedges recognized in cost of net revenues
—

 
—

 
1

 
—

Foreign exchange contracts not designated as hedging instruments recognized in interest and other, net
17

 
2

 
(1
)
 
4

Total gain (loss) recognized from foreign exchange derivative contracts in the condensed consolidated statement of income
$
36

 
$
14

 
$
52

 
$
(33
)

The following table provides a summary of the total gain (loss) recognized in the condensed consolidated statement of income from our interest rate derivative contracts by location (in millions): 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2019
 
2018
 
2019
 
2018
Gain (loss) from interest rate contracts designated as fair value hedges recognized in interest and other, net
$
(5
)
 
$
(4
)
 
$
34

 
$
(43
)
Gain (loss) from hedged items attributable to hedged risk recognized in interest and other, net
5

 
4

 
(34
)
 
43

Total gain (loss) recognized from interest rate derivative contracts in the condensed consolidated statement of income
$
—

 
$
—

 
$
—

 
$
—


The following table provides a summary of the total gain (loss) recognized in the condensed consolidated statement of income due to changes in the fair value of the warrant (in millions): 
 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2019
 
2018
 
2019
 
2018
Gain (loss) attributable to changes in the fair value of warrant recognized in interest and other, net
$
(49
)
 
$
126

 
$
56

 
$
232


Notional amounts of outstanding derivatives The following table provides the notional amounts of our outstanding derivatives as of September 30, 2019 and December 31, 2018 (in millions):
 
September 30,
2019
 
December 31,
2018
Foreign exchange contracts designated as cash flow hedges
$
1,968

 
$
1,510

Foreign exchange contracts designated as net investment hedges
150

 
804

Foreign exchange contracts not designated as hedging instruments
2,027

 
3,517

Interest rate contracts designated as fair value hedges
—

 
2,400

Total
$
4,145

 
$
8,231