FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of components and classification of financial assets and liabilities measured at fair value

The following fair value hierarchy table presents the components and classification of the Company’s financial assets and liabilities measured at fair value on a recurring basis:

	March 31, 2021								December 31, 2020
(in millions)	Carrying Value		Level 1		Level 2		Level 3		Carrying Value		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	148	$	107	$	41	$	—	$	41	$	8	$	33	$	—
Restricted cash	$	1,214	$	1,214	$	—	$	—	$	1,211	$	1,211	$	—	$	—
Foreign currency exchange contracts	$	—	$	—	$	—	$	—	$	3	$	—	$	3	$	—
Liabilities:
Acquisition-related contingent consideration	$	313	$	—	$	—	$	313	$	328	$	—	$	—	$	328
Cross-currency swaps	$	35	$	—	$	35	$	—	$	70	$	—	$	70	$	—
Foreign currency exchange contracts	$	11	$	—	$	11	$	—	$	11	$	—	$	11	$	—

Schedule of effect of hedging instruments on financial statements

The following table presents the effect of hedging instruments on the Consolidated Statements of Comprehensive Loss and the Consolidated Statements of Operations for the three months ended March 31, 2021 and 2020:

	Three Months Ended March 31,
(in millions)	2021		2020
Gain recognized in Other comprehensive loss	$	41	$	73
Gain excluded from assessment of hedge effectiveness	$	6	$	6
Location of gain of excluded component	Interest Expense

Schedule of reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3)

The following table presents a reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2021 and 2020:

	Three Months Ended March 31,
(in millions)	2021				2020
Balance, beginning of period			$	328			$	316
Adjustments to Acquisition-related contingent consideration:
Accretion for the time value of money	$	5			$	6
Fair value adjustments due to changes in estimates of other future payments	(14)				7
Acquisition-related contingent consideration			(9)				13
Payments			(6)				(17)
Balance, end of period			313				312
Current portion included in Accrued and other current liabilities			111				44
Non-current portion			$	202			$	268

Schedule of assets and liabilities measured at fair value on a non-recurring basis

The following table presents the components and classification of the Company’s financial assets and liabilities measured at fair value on a non-recurring basis:

	March 31, 2021								December 31, 2020
(in millions)	Carrying Value		Level 1		Level 2		Level 3		Carrying Value		Level 1		Level 2		Level 3
Other non-current assets:
Non-current assets held for sale	$	186	$	—	$	—	$	186	$	245	$	—	$	—	$	245