Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following fair value hierarchy table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020.

	Identical Assets (Level 1)				Observable Inputs (Level 2)				Unobservable Inputs (Level 3)				Total
(In millions)	03/31/21		12/31/20		03/31/21		12/31/20		03/31/21		12/31/20		03/31/21		12/31/20
Assets:
Financial instruments owned:
Exchange traded equity securities(a)	$	60	$	59	$	—	$	—	$	—	$	—	$	60	$	59
Mutual funds(a)	183		186		—		—		—		—		183		186
Money market funds(b)	65		587		—		—		—		—		65		587
Other equity investment(a)	—		—		8		8		—		—		8		8
Contingent purchase consideration asset(c)	—		—		—		—		66		68		66		68
Total assets measured at fair value	$	308	$	832	$	8	$	8	$	66	$	68	$	382	$	908
Fiduciary Assets:
U.S. Treasury Bills	$	—	$	150	$	—	$	—	$	—	$	—	$	—	$	150
Money market funds	241		173		—		—		—		—		241		173
Total fiduciary assets measured at fair value	$	241	$	323	$	—	$	—	$	—	$	—	$	241	$	323
Liabilities:
Contingent purchase consideration liability(d)	$	—	$	—	$	—	$	—	$	233	$	243	$	233	$	243
Total liabilities measured at fair value	$	—	$	—	$	—	$	—	$	233	$	243	$	233	$	243

(a) Included in other assets in the consolidated balance sheets.

(b) Included in cash and cash equivalents in the consolidated balance sheets.

(c) Included in other receivables in the consolidated balance sheets.

(d) Included in accounts payable and accrued liabilities and other liabilities in the consolidated balance sheets.

Changes in Fair Value of Level 3 Liabilities Representing Acquisition Related Contingent Consideration

The table below sets forth a summary of the changes in fair value of the Company’s Level 3 liabilities for the three month periods ended March 31, 2021 and 2020:

	Three Months Ended March 31,
(In millions)	2021		2020
Balance at beginning of period	$	243	$	225
Net Additions	—		30
Payments	(11)		(13)
Revaluation Impact	1		1
Other (a)	—		(4)
Balance at March 31,	$	233	$	239

(a) Primarily reflects the impact of foreign exchange.