Assets and Liabilities Measured at Fair Value (Tables)

12 Months Ended

Dec. 31, 2021

Assets and Liabilities Measured at Fair Value

Schedule of assets and liabilities measured at fair value

	December 31, 2021				December 31, 2020
			Quoted prices	Significant		Quoted prices	Significant
			in active	other		in active	other
			markets for	observable		markets for	observable
			identical assets	inputs		identical assets	inputs
Description	Total		(Level 1)	(Level 2)	Total	(Level 1)	(Level 2)
	amounts in millions
Cash equivalents	$	118	118	—	1,368	1,368	—
Indemnification obligation	$	324	—	324	345	—	345
Exchangeable senior debentures	$	1,428	—	1,428	1,472	—	1,472

Schedule of realized and unrealized gains (losses) on financial instruments

	Years ended December 31,
	2021		2020	2019
	amounts in millions
Indemnification obligation	$	21	(9)	—
Exchangeable senior debentures (1)		46	(74)	—
Other		—	—	1
	$	67	(83)	1

(1) The Company has elected to account for its exchangeable senior debentures using the fair value option. Changes in the fair value of the exchangeable senior debentures recognized in the consolidated statements of operations are primarily due to market factors driven by changes in the fair value of the underlying shares into which debt is exchangeable. The Company isolates the portion of the unrealized gain (loss) attributable to the change in the instrument specific credit risk and recognizes such amount in other comprehensive income. The change in the fair value of the exchangeable senior debentures attributable to changes in the instrument specific credit risk before tax was a loss of $2 million and a gain of $9 million for the years ended December 31, 2021 and 2020, respectively. The cumulative change was a gain of $7 million as of December 31, 2021.