Financial Instruments and Fair Value Measurements - (Tables)

3 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Summary of Financial Instruments by Significant Categories and Fair Value Measurement on a Recurring Basis

The following table summarizes our financial instruments by significant categories and fair value measurement on a recurring basis as of March 31, 2020 and December 31, 2019.

(in millions)	Level 1		Level 2		Total
March 31, 2020
Cash equivalents:
Money market mutual funds	$	328	$	—	328
Total cash equivalents	328		—		328
Investments:
Asset-backed securities	—		30		30
Corporate bonds	—		95		95
U.S. government agencies and government-sponsored agencies	—		7		7
U.S. treasuries	—		55		55
Other debt securities	—		8		8
Total investments	—		195		195
Restricted cash equivalents:
Money market mutual funds	90		—		90
Certificate of deposit	—		1		1
Commercial paper	14		—		14
Total restricted cash equivalents	104		1		105
Restricted investments:
Corporate bonds	—		31		31
U.S. government agencies and government-sponsored agencies	—		18		18
U.S. treasuries	—		189		189
Certificate of deposit	—		1		1
Total restricted investments	—		239		239
Total cash equivalents and investments and restricted cash equivalents and investments	$	432	$	435	$	867

(in millions)	Level 1		Level 2		Total
December 31, 2019
Cash equivalents
Money market mutual funds	$	89	$	—	$	89
U.S. treasuries	—		3		3
Total cash equivalents	89		3		92
Investments
Asset-backed securities	—		30		30
Corporate bonds	—		96		96
U.S. government agencies and government-sponsored agencies	—		5		5
U.S. treasuries	—		53		53
Other debt securities	—		10		10
Total investments	—		194		194
Restricted cash equivalents:
Money market mutual funds	42		—		42
U.S. treasuries	—		12		12
Certificate of deposit	—		2		2
Commercial paper	14		—		14
Total restricted cash equivalents	56		14		70
Restricted investments:
Corporate bonds	—		28		28
U.S. government agencies and government-sponsored agencies	—		9		9
U.S. treasuries	—		110		110
Certificate of deposit	—		1		1
Total restricted investments	—		148		148
Total investments and restricted cash equivalents and investments	$	145	$	359	$	504

Schedule of Cash Flow Hedging Instruments

The following table summarizes the fair value of our derivative instruments at March 31, 2020:

					Fair Market Value
					March 31, 2020				December 31, 2019
(in millions)	Hedge type	Final settlement date	Notional amount		Other current assets		Accounts payable and other current liabilities		Other current assets		Accounts payable and other current liabilities
Derivatives designated as hedging instruments
Collar - LIBOR	Cash flow	May 2022	$	213	$	—	$	1	$	—	$	—

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table summarizes the fair value of our derivative instruments at March 31, 2020:

					Fair Market Value
					March 31, 2020				December 31, 2019
(in millions)	Hedge type	Final settlement date	Notional amount		Other current assets		Accounts payable and other current liabilities		Other current assets		Accounts payable and other current liabilities
Derivatives designated as hedging instruments
Collar - LIBOR	Cash flow	May 2022	$	213	$	—	$	1	$	—	$	—