XML 27 R26.htm IDEA: XBRL DOCUMENT

Fair Value Measurements

3 Months Ended

Mar. 31, 2020

FAIR VALUE MEASUREMENTS

The following tables summarize the basis used to measure certain assets and liabilities at fair value on a recurring basis:



March 31, 2020	Significant Other Observable Inputs (Level 2)
(In millions)	Significant Other Observable Inputs (Level 2)
Assets at fair value:
Cash equivalents and restricted cash equivalents¹	$	1,536
Marketable securities	10
Derivatives relating to:²
Foreign currency	266
Total assets at fair value	$	1,812
Liabilities at fair value:
Derivatives relating to:²
Foreign currency	108
Total liabilities at fair value	$	108



December 31, 2019	Significant Other Observable Inputs (Level 2)
(In millions)	Significant Other Observable Inputs (Level 2)
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



March 31, 2019	Significant Other Observable Inputs (Level 2)
(In millions)	Significant Other Observable Inputs (Level 2)
Assets at fair value:
Cash equivalents and restricted cash equivalents¹	$	1,055
Marketable securities	5
Derivatives relating to:²
Foreign currency	45
Total assets at fair value	$	1,105
Liabilities at fair value:
Derivatives relating to:²
Foreign currency	10
Total liabilities at fair value	$	10


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.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details