Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Accounting Policies [Abstract]

Financial statement Effects of New Accounting Pronouncements

The following tables summarize the impact of the revenue standard on the Company’s consolidated statement of operations for the year ended December 31, 2018 and consolidated balance sheet as of December 31, 2018:

	Year Ended December 31, 2018
	Balances excluding revenue standard		Impact of revenue standard		As reported
	(in millions)
Net Revenue	$	14,471	$	479	$	14,950
Operating Expenses
Advertising and marketing	743		164		907
Income before income taxes	6,889		315		7,204
Income tax expense	1,278		67		1,345
Net Income	5,611		248		5,859

	December 31, 2018
	Balances excluding revenue standard		Impact of revenue standard			As reported
	(in millions)
Assets
Accounts receivable	$	2,214	$	62		$	2,276
Prepaid expenses and other current assets	1,176		256			1,432
Deferred income taxes	666		(96		)	570
Other assets	2,388		915			3,303
Liabilities
Accounts payable	959		(422		)	537
Accrued expenses	4,375		372			4,747
Other current liabilities	1,085		(136		)	949
Other liabilities	1,145		732			1,877
Equity
Retained earnings	26,692		591			27,283

For a more detailed discussion on revenue recognition, refer to Note 3 (Revenue).

Cumulative Effect of the Adopted Accounting Pronouncements

The following table summarizes the cumulative impact of the changes made to the January 1, 2018 consolidated balance sheet for the adoption of the new accounting standards pertaining to revenue recognition and intra-entity asset transfers. The prior periods have not been restated and have been reported under the accounting standards in effect for those periods.

	Balance at December 31, 2017		Impact of revenue standard			Impact of intra-entity asset transfers standard			Balance at January 1, 2018
	(in millions)
Assets
Accounts receivable	$	1,969	$	44		$	—		$	2,013
Prepaid expenses and other current assets	1,040		181			(17		)	1,204
Deferred income taxes	250		(69		)	186			367
Other assets	2,298		690			(352		)	2,636
Liabilities
Accounts payable	933		(495		)	—			438
Accrued expenses	3,931		391			—			4,322
Other current liabilities	792		(44		)	—			748
Other liabilities	1,438		628			—			2,066
Equity
Retained earnings	22,364		366			(183		)	22,547

Property, Plant and Equipment

The useful lives of the Company’s assets are as follows:

Asset Category	Estimated Useful Life
Buildings	30 years
Building equipment	10 - 15 years
Furniture and fixtures and equipment	3 - 5 years
Leasehold improvements	Shorter of life of improvement or lease term
Capital leases	Shorter of life of the asset or lease term

Property, plant and equipment consisted of the following at December 31:

	2018			2017
	(in millions)
Building, building equipment and land	$	481		$	455
Equipment	987			841
Furniture and fixtures	85			81
Leasehold improvements	215			166
Property, plant and equipment	1,768			1,543
Less: accumulated depreciation and amortization	(847		)	(714		)
Property, plant and equipment, net	$	921		$	829