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FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis
The following tables summarize our assets and liabilities that are measured at fair value on a recurring basis.
Basis of fair value measurement
(in millions)Balance as of December 31,
2020		Quoted prices
in active
markets for
identical assets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
Assets
Foreign exchange contracts$11 $— $11 $— 
Debt securities13 — 13 — 
Marketable equity securities 17 17 — — 
Total$41 $17 $24 $— 
Liabilities
Foreign exchange contracts$19 $— $19 $— 
Contingent payments related to acquisitions30 — — 30 
Total$49 $— $19 $30 
Basis of fair value measurement
(in millions)Balance as of December 31,
2019		Quoted prices
in active
markets for
identical assets
(Level 1)		Significant
other
observable
inputs
(Level 2)		Significant
unobservable
inputs
(Level 3)
Assets
Foreign exchange contracts$11 $— $11 $— 
Interest rate contracts10 — 10 — 
Marketable equity securities3 3 — — 
Total$24 $3 $21 $— 
Liabilities
Foreign exchange contracts$2 $— $2 $— 
Interest rate contracts52 — 52 — 
Contingent payments related to acquisitions39 — — 39 
Total$93 $— $54 $39 
Reconciliation of Fair Value Measurements that Use Significant Unobservable Inputs The following table is a reconciliation of our recurring fair value measurements that use significant unobservable inputs (Level 3), which consist of contingent payments related to acquisitions.
as of and for the years ended December 31 (in millions)20202019
Fair value at beginning of period$39 $32 
Additions4 18 
Change in fair value recognized in earnings(2)(4)
Payments(11)(7)
Fair value at end of period$30 $39 
Book Values and Fair Values of Financial Instruments For these financial instruments, the following table provides the values recognized in the consolidated balance sheets and the estimated fair values.
Book valuesFair values(a)
as of December 31 (in millions)2020201920202019
Liabilities
Short-term debt$— $226 $— $226 
Current maturities of long-term debt and finance lease obligations406 315 409 315 
Long-term debt and finance lease obligations5,786 4,809 6,471 5,156 
(a)    These fair value amounts are classified as Level 2 within the fair value hierarchy as they are estimated based on observable inputs.