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Organization, Description of Business and Basis of Presentation (Tables)
9 Months Ended
Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Accounts Receivable Securitization and Factoring Programs
Information related to the trade receivables sold was as follows:
Three Months Ended September 30,Nine Months Ended September 30,
(In millions)2020201920202019
Securitization programs
Receivables sold in period
$750 $790 $2,039 $1,451 
Cash consideration
750 787 2,039 1,316 
Deferred purchase price
— — 135 
Factoring programs
Receivables sold in period
$112 $196 $575 $615 
Cash consideration
112 195 574 612 
Summary of Carrying Value and Valuation of Financial Instruments Within the Fair-Value Hierarchy
The fair value hierarchy of cash equivalents was as follows:
(In millions)Carrying ValueFair ValueLevel 1Level 2
September 30, 2020$1,657 $1,657 $1,657 $— 
December 31, 2019144 144 127 17 
The fair value of our debt and classification in the fair value hierarchy was as follows:
(In millions)Fair ValueLevel 1Level 2
September 30, 2020$6,989 $4,373 $2,616 
December 31, 20195,580 3,190 2,390