Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2021 and December 31, 2020:

	Identical Assets (Level 1)				Observable Inputs (Level 2)				Unobservable Inputs (Level 3)				Total
(In millions)	06/30/21		12/31/20		06/30/21		12/31/20		06/30/21		12/31/20		06/30/21		12/31/20
Assets:
Financial instruments owned:
Exchange traded equity securities(a)	$	63	$	59	$	—	$	—	$	—	$	—	$	63	$	59
Mutual funds(a)	186		186		—		—		—		—		186		186
Money market funds(b)	75		587		—		—		—		—		75		587
Other equity investment(a)	—		—		8		8		—		—		8		8
Contingent purchase consideration assets(c)	—		—		—		—		6		68		6		68
Total assets measured at fair value	$	324	$	832	$	8	$	8	$	6	$	68	$	338	$	908
Fiduciary Assets:
U.S. treasury bills	$	—	$	150	$	—	$	—	$	—	$	—	$	—	$	150
Money market funds	243		173		—		—		—		—		243		173
Total fiduciary assets measured at fair value	$	243	$	323	$	—	$	—	$	—	$	—	$	243	$	323
Liabilities:
Contingent purchase consideration liability(d)	$	—	$	—	$	—	$	—	$	340	$	243	$	340	$	243
Total liabilities measured at fair value	$	—	$	—	$	—	$	—	$	340	$	243	$	340	$	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 following table sets forth a summary of the changes in fair value of the Company’s Level 3 liabilities for the three and six month periods ended June 30, 2021 and 2020:

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2021		2020		2021		2020
Balance at beginning of period	$	233	$	239	$	243	$	225
Net additions	97		66		97		96
Payments	(6)		(65)		(17)		(78)
Revaluation impact	16		(11)		17		(10)
Other (a)	—		4		—		—
Balance at June 30,	$	340	$	233	$	340	$	233

(a) Primarily reflects the impact of foreign exchange.