FAIR VALUE MEASUREMENT (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities that are Recorded at Fair Value and Classified Based on the Lowest Level of Input

The Company’s financial assets and liabilities set forth by level within the fair value hierarchy that were accounted for at fair value on a recurring basis were as follows:

	Year Ended December 31, 2021
(in millions)	Total		Level 1		Level 2		Level 3
Assets
Interest rate swaps	$	5	$	—	$	5	$	—
Long-term debt	4		—		4		—
Cross currency interest rate swaps	4		—		4		—
Foreign exchange forward contracts	30		—		30		—
Total assets	$	43	$	—	$	43	$	—
Liabilities
Interest rate swaps	$	9	$	—	$	9	$	—
Cross currency basis swaps	7		—		7		—
Foreign exchange forward contracts	4		—		4		—
Contingent considerations on acquisitions	10		—		—		10
Total liabilities	$	30	$	—	$	20	$	10

	Year Ended December 31, 2020
(in millions)	Total		Level 1		Level 2		Level 3
Assets
Foreign exchange forward contracts	$	10	$	—	$	10	$	—
Total assets	$	10	$	—	$	10	$	—
Liabilities
Cross currency interest rate swaps	$	20	$	—	$	20	$	—
Foreign exchange forward contracts	15		—		15		—
Contingent considerations on acquisitions	5		—		—		5
Total liabilities	$	40	$	—	$	35	$	5

Schedule of Reconciliation of the Company's Assets Measured at Fair Value on a Recurring Basis Using Unobservable Inputs (Level 3)

The following table presents a reconciliation of the Company’s Level 3 holdings measured at fair value on a recurring basis using unobservable inputs:

(in millions)	Level 3
Balance, December 31, 2019	$	9
Issuance of new contingent consideration	—
Loss (gain) in Other expense (income), net	—
Payments	(4)
Balance, December 31, 2020	$	5
Issuance of contingent consideration from business acquisition (a)	9
Loss (gain) in Other expense (income), net	—
Payments	(4)
Balance, December 31, 2021	$	10

(a) Refer to Note 6, “Business Combinations” for more information regarding recent acquisitions