Fair Value of Financial Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Fair value of financial assets and liabilities

The following table represents assets and liabilities measured at fair value on a recurring basis. The basis for the measurement at fair value in all cases was Level 2. 

(in millions)	September 30, 2021		December 31, 2020
Assets:
Foreign exchange contract - forward	$	1	$	2
Total Assets	$	1	$	2
Liabilities:
Foreign exchange contracts - forward	$	2	$	—
Total Liabilities	$	2	$	—

Estimated fair values of financial assets and liabilities not measured at fair value on a recurring basis

The estimated fair values of other financial assets and liabilities were as follows:

	September 30, 2021				December 31, 2020
(in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Liabilities:
Long-term debt	$	1,384	$	1,372	$	1,420	$	1,378