Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Quantitative Disclosures of Derivative Instruments Including Estimated Fair Values

The following tables present the required quantitative disclosures for our derivative instruments, including their estimated fair values (all estimated using Level 2 inputs) and their location on our condensed consolidated balance sheets (in millions):

	Gain or (Loss) Recognized in Other Comprehensive Income (Loss)
	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Derivatives designated as cash flow hedges(1)
Interest rate swaps	$	(22)	$	(35)	$	(370)	$	(156)
Forward-currency contracts	$	(2)	$	1	$	3	$	(3)
Derivatives designated as net investment hedges
Cross-currency rate swaps	$	(238)	$	180	$	51	$	25

(1)We did not exclude any components from the cash flow hedge relationships presented in this table.

	Location of Gain or (Loss) Reclassified from AOCI into Earnings	Gain or (Loss) Reclassified from AOCI into Earnings
		Three Months Ended September 30,				Nine Months Ended September 30,
		2020		2019		2020		2019
Derivatives designated as cash flow hedges
Interest rate swaps	Interest expense, net	$	(30)	$	(7)	$	(71)	$	(14)
Forward-currency contracts	Cost of sales	$	—	$	—	$	2	$	4
	Location of Gain or (Loss) Recognized in Earnings	Gain or (Loss) Recognized in Earnings (Amount Excluded from Effectiveness Testing)
		Three Months Ended September 30,				Nine Months Ended September 30,
		2020		2019		2020		2019
Derivatives designated as net investment hedges
Cross-currency rate swaps	Interest expense, net	$	15	$	16	$	56	$	53

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

	Fair Value as of
	September 30, 2020		December 31, 2019		Balance Sheet Location
Assets:
Derivatives designated as cash flow hedges
Interest rate	$	—	$	7	Other assets, net
Derivatives designated as net investment hedges
Foreign currency	18		22		Other assets, net
Total assets at fair value	$	18	$	29
Liabilities:
Derivatives designated as cash flow hedges
Interest rate	$	490	$	175	Other liabilities, net
Foreign currency	1		2		Other accrued liabilities
Derivatives designated as net investment hedges
Foreign currency	102		166		Other liabilities, net
Total liabilities at fair value	$	593	$	343