Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Fair Value Measurements [Abstract]

Major Categories of Financial Assets and Liabilities Measured on a Recurring Basis

			Fair value measurements at reporting date using
			Quoted prices in	Significant other		Significant
			active markets for	observable		unobservable
	June 30,		identical assets	inputs		inputs
	2019		(Level 1)	(Level 2)		(Level 3)
Current assets:
Other current assets (1)	$	94		$	94
Non-current assets:
Other assets (1)(2)	$	96		$	73	$	23
Current liabilities:
Other accrued liabilities (1)	$	67		$	67
Non-current liabilities:
Other liabilities (1)	$	345		$	345

(1)Derivative assets and liabilities include foreign exchange contracts which are measured using observable inputs for similar assets and liabilities.

(2)Other assets include one of the Company’s renewable energy derivative contracts that was measured using unobservable (Level 3) inputs, in the amount of $23 million.

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			Fair value measurements at reporting date using
			Quoted prices in	Significant other		Significant
			active markets for	observable		unobservable
	December 31,		identical assets	inputs		inputs
	2018		(Level 1)	(Level 2)		(Level 3)
Current assets:
Other current assets (1)	$	103		$	103
Non-current assets:
Investments (2)	$	16				$	16
Other assets (1)	$	45		$	45
Current liabilities:
Other accrued liabilities (1)	$	56		$	56
Non-current liabilities:
Other liabilities (1)(3)	$	406		$	386	$	20

(1)Derivative assets and liabilities include foreign exchange contracts which are measured using observable inputs for similar assets and liabilities.

(2)One of the Company’s equity securities was measured using unobservable (Level 3) inputs, in the amount of $16 million.

(3)Other liabilities include contingent consideration that was measured using unobservable (Level 3) inputs, in the amount of $20 million.

For the six months ended June 30, 2019, assets and liabilities that were measured using unobservable (Level 3) inputs resulted in unrealized gains recognized in earnings of $23 million for a renewable energy derivative contract and the reversal of a liability for contingent consideration of $20 million.