Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

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.

	June 30, 2022			December 31, 2021
	Total	Level 1	Level 2	Total	Level 1	Level 2
Assets
Money market funds	$1,573	$1,573		$1,370	$1,370
Available-for-sale debt investments:
Commercial paper	301		$301	225		$225
Corporate notes	178		178	262		262
U.S. government agencies	20		20	1		1
Other equity investments	13	13		20	20
Derivatives	79		79	98		98
Total assets	$2,164	$1,586	$578	$1,976	$1,390	$586
Liabilities
Derivatives	($142)		($142)	($50)		($50)
Total liabilities	($142)		($142)	($50)		($50)

Fair Value, Assets Measured On Nonrecurring Basis Using Unobservable Inputs

Certain assets have been measured at fair value on a nonrecurring basis using significant unobservable inputs (Level 3). The following table presents the nonrecurring losses recognized for the six months ended June 30 due to long-lived asset impairment and the fair value and asset classification of the related assets as of the impairment date:

	2022		2021
	Total	Total Losses	Total	Total Losses
Investments		($31)		($7)
Customer financing assets	$44	(2)	$15	(12)
Property, plant and equipment		(19)	28	(19)
Other Assets and Acquired intangible assets	1	(20)
Total	$45	($72)	$43	($38)

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 period ended June 30, 2022, 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	$44	Market approach	Aircraft value publications	$34 - $43(1) Median $39
			Aircraft condition adjustments	$0 - $5(2) Net $5

(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:

	June 30, 2022
	Carrying Amount	Total Fair Value	Level 1	Level 2	Level 3
Assets
Notes receivable, net	$403	$420		$420
Liabilities
Debt, excluding finance lease obligations	(57,009)	(52,730)		(52,730)

	December 31, 2021
	Carrying Amount	Total Fair Value	Level 1	Level 2	Level 3
Assets
Notes receivable, net	$412	$485		$485
Liabilities
Debt, excluding finance lease obligations	(57,921)	(65,724)		(65,724)