Fair Value Measurements

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

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.