Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value, Assets And Liabilities Measured On Recurring Basis

The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs. The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy.

	September 30, 2021			December 31, 2020
	Total	Level 1	Level 2	Total	Level 1	Level 2
Assets
Money market funds	$1,551	$1,551		$2,230	$2,230
Available-for-sale debt investments:
Commercial paper	266		$266	149		$149
Corporate notes	230		230	333		333
U.S. government agencies	1		1	114		114
Other equity investments	11	11		54	54
Derivatives	107		107	76		76
Total assets	$2,166	$1,562	$604	$2,956	$2,284	$672
Liabilities
Derivatives	($36)		($36)	($69)		($69)
Total liabilities	($36)		($36)	($69)		($69)

Fair Value, Assets Measured On Nonrecurring Basis Using Unobservable Inputs

Certain assets have been measured at fair value on a nonrecurring basis. The following table presents the nonrecurring losses recognized for the nine months ended September 30 due to long-lived asset impairment and the fair value and asset classification of the related assets as of the impairment date:

	2021				2020
	Total	Level 2	Level 3	Total Losses	Total	Level 2	Level 3	Total Losses
Customer financing assets	$17		$17	($12)	$100		$100	($22)
Investments	—			(8)	51		51	(62)
Property, plant and equipment	103	$103		(45)	81		81	(75)
Other Assets and Acquired intangible assets	—			(7)	199		199	(158)
Total	$120	$103	$17	($72)	$431	—	$431	($317)

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques

For Level 3 assets that were measured at fair value on a nonrecurring basis during the year ended September 30, 2021, the following table presents the fair value of those assets as of the measurement date, valuation techniques and related unobservable inputs of those assets.

	Fair Value	Valuation Technique(s)	Unobservable Input	Range Median or Average
Customer financing assets	$17	Market approach	Aircraft value publications	$16 - $24(1) Median $19
			Aircraft condition adjustments	($5) - $3(2) Net ($2)

(1)The range represents the sum of the highest and lowest values for all aircraft subject to fair value measurement, according to the third party aircraft valuation publications that we use in our valuation process.

(2)The negative amount represents the sum, for all aircraft subject to fair value measurement, of all downward adjustments based on consideration of individual aircraft attributes and condition. The positive amount represents the sum of all such upward adjustments.

Fair Values And Related Carrying Values Of Financial Instruments

The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the Condensed Consolidated Statements of Financial Position were as follows:

	September 30, 2021
	Carrying Amount	Total Fair Value	Level 1	Level 2	Level 3
Assets
Notes receivable, net	$414	$493		$493
Liabilities
Debt, excluding finance lease obligations	(62,238)	(70,107)		(70,107)

	December 31, 2020
	Carrying Amount	Total Fair Value	Level 1	Level 2	Level 3
Assets
Notes receivable, net	$420	$488		$488
Liabilities
Debt, excluding finance lease obligations	(63,380)	(72,357)		(72,342)	($15)