Fair Value of Financial Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair value of financial assets and liabilities

The following table represents assets and liabilities measured at fair value on a recurring basis. The basis for the measurement at fair value in all cases is Level 2 – Significant Other Observable Inputs. 

	September 30, 2020		December 31, 2019
Assets
Foreign exchange contracts - forwards	$	7	$	2
Interest rate swaps	—		1
Deferred compensation investments in mutual funds	18		19
Total	$	25	$	22
Liabilities
Foreign exchange contracts - forwards	$	3	$	8
Deferred compensation plan liabilities	17		18
Total	$	20	$	26

Estimated fair values of financial assets and liabilities not measured at fair value on a recurring basis

The estimated fair values of our other financial assets and liabilities were as follows:

	September 30, 2020				December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	3,242	$	3,242	$	2,740	$	2,740
Accounts receivable, net	895		895		1,236		1,236
Short-term debt and current portion of long-term debt	1,218		1,240		1,049		1,054
Long-term debt	3,836		3,899		3,233		3,331