Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Investments All Other Investments [Abstract]

Schedule of Cash, Cash Equivalents, Restricted Cash and Marketable Securities

The following tables show our cash, cash equivalents, restricted cash, short-term and long-term available-for-sale marketable debt securities, by major security type, that are measured at fair value on a recurring basis and were categorized using the fair value hierarchy, as well as their classification on our unaudited condensed consolidated balance sheets, as of the periods presented (in millions):

	September 30, 2019
	Amortized Cost		Fair Value (2)		Cash, Cash Equivalents and Restricted Cash		Short-Term Marketable Securities		Long-Term Marketable Securities
Cash and restricted cash (1)	$	828	$	828	$	828	$	—	$	—
Level 1:
Money market funds		10		10		10		—		—
Level 2:
Commercial paper		95		95		—		95		—
Total	$	933	$	933	$	838	$	95	$	—

	December 31, 2018
	Amortized Cost		Fair Value (2)		Cash, Cash Equivalents and Restricted Cash		Short-Term Marketable Securities		Long-Term Marketable Securities
Cash and restricted cash (1)	$	522	$	522	$	522	$	—	$	—
Level 1:
Money market funds		128		128		128		—		—
Level 2:
Commercial paper		20		20		5		15		—
Total	$	670	$	670	$	655	$	15	$	—

(1) As of September 30, 2019 and December 31, 2018, our restricted cash, which primarily consists of escrowed security deposits, was not material and is included in other long-term assets on our unaudited condensed consolidated balance sheets.

(2) As of September 30, 2019 and December 31, 2018, any unrealized gains or losses related to our marketable securities were not material.

Notional Principal Amounts of Outstanding Derivative Instruments

The following table shows the notional principal amounts of our outstanding derivative instruments as of the periods presented:

	September 30, 2019		December 31, 2018
	(in millions)
Foreign currency exchange - forward contracts (1) (2)	$	35	$	13

(1) Our derivative contracts address foreign currency exchange fluctuations for the Euro versus the U.S. dollar. The Company had five outstanding derivative contracts as of September 30, 2019 and two outstanding derivative contracts as of December 31, 2018.

(2) The fair value of our outstanding derivatives as of September 30, 2019 was not material and is included in prepaid expenses and other current assets on our unaudited condensed consolidated balance sheets. The fair value of our outstanding derivatives as of December 31, 2018 was not material and is included in accrued expenses and other current liabilities on our unaudited condensed consolidated balance sheets.