Investment In and Advances To Affiliates

3 Months Ended

Mar. 31, 2020

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

INVESTMENTS IN AND ADVANCES TO AFFILIATES

INVESTMENTS IN AND ADVANCES TO AFFILIATES

Summarized Financial Information — The following table summarizes financial information of the Company’s 50%-or-less-owned affiliates that are accounted for using the equity method (in millions):

	Three Months Ended March 31,
50%-or-less-Owned Affiliates	2020			2019
Revenue	$	370		$	214
Operating margin	55			11
Net loss	(11		)	(21		)

OPGC — In December 2019, an other-than-temporary impairment was identified at OPGC primarily due to the estimated market value of the Company's investment and other negative developments impacting future expected cash flows at the investee. A calculation of the fair value of the Company’s investment in OPGC was required to evaluate whether there was a loss in the carrying value of the investment. Based on management’s estimate of fair value of $212 million, the Company had recognized an other-than-temporary impairment of $92 million in December 2019. In March 2020, management’s updated estimate of fair value was $152 million and the Company then recognized an additional other-than-temporary impairment of $43 million in Other non-operating expense due to the current economic slowdown. The OPGC equity method investment is reported in the Eurasia SBU reportable segment.