FAIR VALUE MEASUREMENTS The following tables summarize the basis used to measure certain assets and liabilities at fair value on a recurring basis: | | | | | | | | September 30, 2020 | | Significant Other Observable Inputs (Level 2) | | (In millions) | Assets at fair value: | | | | Cash equivalents and restricted cash equivalents1 | | $ | 1,986 | | | Marketable securities | | 152 | | | Derivatives relating to:2 | | | | Foreign currency | | 125 | | | Commodity contracts | | 1 | | | Total assets at fair value | | $ | 2,264 | | | Liabilities at fair value: | | | | Derivatives relating to:2 | | | | Foreign currency | | 96 | | | Commodity contracts | | 1 | | | Total liabilities at fair value | | $ | 97 | | |
| | | | | | | | December 31, 2019 | | Significant Other Observable Inputs (Level 2) | | (In millions) | Assets at fair value: | | | | Cash equivalents and restricted cash equivalents1 | | $ | 1,293 | | | Marketable securities | | 5 | | | Derivatives relating to:2 | | | | Foreign currency | | 25 | | | Total assets at fair value | | $ | 1,323 | | | Liabilities at fair value: | | | | Derivatives relating to:2 | | | | Foreign currency | | 43 | | | Total liabilities at fair value | | $ | 43 | | |
| | | | | | | | September 30, 2019 | | Significant Other Observable Inputs (Level 2) | | (In millions) | Assets at fair value: | | | | Cash equivalents and restricted cash equivalents1 | | $ | 1,568 | | | Marketable securities | | 117 | | | Derivatives relating to:2 | | | | | | | | Foreign currency | | 74 | | | Total assets at fair value | | $ | 1,759 | | | Liabilities at fair value: | | | | Derivatives relating to:2 | | | | Foreign currency | | 20 | | | Total liabilities at fair value | | $ | 20 | | |
1. Time deposits included in cash and cash equivalents and money market funds included in other current assets in the interim Condensed Consolidated Balance Sheets are held at amortized cost, which approximates fair value. 2. See Note 17 - Financial Instruments for the classification of derivatives in the interim Condensed Consolidated Balance Sheets. Fair Value Measurements on a Nonrecurring Basis The following table summarizes the bases used to measure certain assets at fair value on a nonrecurring basis:
| | | | | | | | | Basis of Fair Value Measurements on a Nonrecurring Basis at September 30
(In millions) | Significant Other Unobservable Inputs (Level 3) | Total Losses | 2019 | | | Assets at fair value: | | | Developed technology | — | | (1) | | Other intangible assets | — | | (6) | | IPR&D | — | | (47) | |
With the exception of the developed technology, other intangible assets, and IPR&D non-cash impairment charges, there were no other non-recurring fair value adjustments recorded during the three and nine months ended September 30, 2020 and 2019. See Note 5 - Restructuring and Asset Related Charges - Net for further discussion of these fair value measurements.
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