Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 2019

The following table presents the fair value of its derivative instruments (in millions):



	Asset (Liability)
		Fair Values as of December 31,
	Balance Sheets Classification	2019			2018
Derivative instruments designated as hedges:
Foreign exchange contracts	Prepaid expenses and other current assets	$	3		$	15
Total derivative instruments designated as hedges		$	3		$	15

Derivative instruments not designated as hedges:
Foreign exchange contracts	Prepaid expenses and other current assets	$	—		$	1
Forward interest rate swaps	Prepaid expenses and other current assets	—			2
Forward interest rate swaps	Other long-term assets	—			3
Forward interest rate swaps	Accrued liabilities	(5		)	—
Forward interest rate swaps	Other long-term liabilities	(8		)	—
Total derivative instruments not designated as hedges		$	(13	)	$	6
Total net derivative (liability) asset		$	(10	)	$	21

The following table presents the net (losses) gains from changes in fair values of derivatives that are not designated as hedges (in millions):



	(Loss) Gain Recognized in Income
		Year Ended December 31,
	Statements of Operations Classification	2019			2018		2017
Derivative instruments not designated as hedges:
Foreign exchange contracts	Foreign exchange loss	$	(3	)	$	1	$	(24	)
Forward interest rate swaps	Interest expense, net	(19		)	8		2
Total (loss) gain recognized in income		$	(22	)	$	9	$	(22	)

The notional values and the net fair value of these outstanding contracts were as follows (in millions):



	December 31,
	2019		2018
Notional balance of outstanding contracts:
British Pound/U.S. Dollar	£	14	£	1
Euro/U.S. Dollar	€	36	€	45
British Pound/Euro	£	—	£	6
Canadian Dollar/U.S. Dollar	C$	1	C$	6
Australian Dollar/U.S. Dollar	A$	42	A$	47
Japanese Yen/U.S. Dollar	¥	264	¥	396
Singapore Dollar/U.S. Dollar	S$	19	S$	7
Mexican Peso/U.S. Dollar	Mex$	115	Mex$	225
Chinese Yuan/U.S. Dollar	¥		¥	71
South African Rand/U.S. Dollar	R	42	R	42
Net fair value of assets of outstanding contracts	$	—	$	1