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FAIR VALUE MEASUREMENTS (Tables)
9 Months Ended
Sep. 30, 2021
Fair Value Disclosures [Abstract]  
Schedule of the Fair Value of Assets and Liabilities Measured on a Recurring Basis
The following tables summarize the basis used to measure certain assets and liabilities at fair value on a recurring basis:
Basis of Fair Value Measurements on a Recurring Basis at September 30, 2021
Significant Other Observable Inputs
(Level 2)
In millions
Assets at fair value:
Cash equivalents and restricted cash equivalents 1
$537 
Derivatives relating to: 2
Net investment hedge 51 
Foreign currency contracts 3
Total assets at fair value$595 
Liabilities at fair value:
Long-term debt including debt due within one year 4
$12,831 
Derivatives relating to: 2
Net investment hedge — 
Foreign currency contracts 3
21 
Total liabilities at fair value$12,852 
1. Treasury bills, time deposits, and money market funds included in "Cash and cash equivalents" and money market funds included in "Other current assets" in the interim Condensed Consolidated Balance Sheets and held at amortized cost, which approximates fair value.
2. See Note 21 for the classification of derivatives in the interim Condensed Consolidated Balance Sheets.
3. Asset and liability derivatives subject to an enforceable master netting arrangement with the same counterparty are presented on a net basis in the interim Condensed Consolidated Balance Sheets. The offsetting counterparty and cash collateral netting amounts for foreign currency contracts were $7 million for both assets and liabilities as of September 30, 2021.
4. Fair value is based on quoted market prices for the same or similar issues, or on current rates offered to the company for debt of the same remaining maturities and terms.

Basis of Fair Value Measurements on a Recurring Basis at December 31, 2020
Significant Other Observable Inputs
(Level 2)
In millions
Assets at fair value:
Cash equivalents and restricted cash equivalents 1
$7,328 
Derivatives relating to: 2
Foreign currency contracts 3
13 
Total assets at fair value$7,341 
Liabilities at fair value:
Long-term debt including debt due within one year 4
$18,337 
Derivatives relating to: 2
Foreign currency contracts 3
22 
Total liabilities at fair value$18,359 
1. Treasury bills, time deposits, and money market funds included in "Cash and cash equivalents" and money market funds included in "Other current assets" in the interim Condensed Consolidated Balance Sheets and held at amortized cost, which approximates fair value.
2. See Note 21 for the classification of derivatives in the interim Condensed Consolidated Balance Sheets.
3. Asset and liability derivatives subject to an enforceable master netting arrangement with the same counterparty are presented on a net basis in the interim Condensed Consolidated Balance Sheets. The offsetting counterparty and cash collateral netting amounts were $9 million for both assets and liabilities as of December 31, 2020.
4. Fair value is based on quoted market prices for the same or similar issues, or on current rates offered to the company for debt of the same remaining maturities and terms.