Derivatives and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summarization for Foreign Currency Forward Purchase and Sale Contracts

The following table summarizes by position the notional amounts for foreign currency forward contracts at December 31, 2020, all of which mature in the next twelve months (amounts in millions):

	Notional Amount
Long positions	$	180
Short positions	$	(176)

Schedule of Derivative Instruments

The following table is a summary of the carrying value of derivative and non-derivative instruments designated as hedges at December 31, 2020 and 2019:

		December 31
	Balance sheets classification	2020		2019
Commodity price hedge contracts designated as cash flow hedges	Prepayments and other current assets	$	3	$	—
Foreign currency borrowings designated as net investment hedges	Long-term debt	$	420	$	850

The following table represents the amount of gain (loss) recognized in accumulated other comprehensive income (loss) before any reclassifications into net income (loss) of derivative and non-derivative instruments designated as hedges for the years ended December 31, 2020, 2019 and 2018:

	Year Ended December 31
	2020		2019		2018
Commodity price hedge contracts designated as cash flow hedges	$	4	$	1	$	—
Foreign currency borrowings designated as net investment hedges	$	(74)	$	20	$	(3)