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Assets and Liabilities Measured at Fair Value (Tables)
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize our assets and liabilities measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, aggregated by the level in the fair value hierarchy within which those measurements fall (dollars in millions):

 

 

 

June 30, 2022

 

 

 

 

 

 

Fair Value Measurements Using

 

 

 

Fair Value

 

 

Quoted Prices in
Active Markets for
Identical Assets
and Liabilities
(Level 1)

 

 

Significant Other
Observable Inputs
(Level 2)

 

 

Significant
Unobservable Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Investments of insurance subsidiaries:

 

 

 

 

 

 

 

 

 

 

 

 

Debt securities

 

$

387

 

 

$

 

 

$

387

 

 

$

 

Money market funds and other

 

 

106

 

 

 

106

 

 

 

 

 

 

 

Investments of insurance subsidiaries

 

 

493

 

 

 

106

 

 

 

387

 

 

 

 

Less amounts classified as current assets

 

 

(114

)

 

 

(102

)

 

 

(12

)

 

 

 

 

 

$

379

 

 

$

4

 

 

$

375

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap (Other current assets)

 

$

1

 

 

$

 

 

$

1

 

 

$

 

 

 

 

 

December 31, 2021

 

 

 

 

 

 

Fair Value Measurements Using

 

 

 

Fair Value

 

 

Quoted Prices in
Active Markets for
Identical Assets
and Liabilities
(Level 1)

 

 

Significant Other
Observable Inputs
(Level 2)

 

 

Significant
Unobservable Inputs
(Level 3)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Investments of insurance subsidiaries:

 

 

 

 

 

 

 

 

 

 

 

 

Debt securities

 

$

416

 

 

$

 

 

$

416

 

 

$

 

Money market funds and other

 

 

125

 

 

 

125

 

 

 

 

 

 

 

Investments of insurance subsidiaries

 

 

541

 

 

 

125

 

 

 

416

 

 

 

 

Less amounts classified as current assets

 

 

(103

)

 

 

(103

)

 

 

 

 

 

 

 

 

$

438

 

 

$

22

 

 

$

416

 

 

$

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap (Other accrued expenses)

 

$

8

 

 

$

 

 

$

8

 

 

$