Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis

The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of March 31, 2020:

	Level 1		Level 2		Level 3		Total
	(in millions)
Cash equivalents:
Money market funds	$	1,562	$	—	$	—	$	1,562
Commercial paper	—		1,498		—		1,498
Short-term investments:
Time deposits	—		48		—		48
Equity investment security	27		—		—		27
Other current assets:
Foreign exchange forward contracts	—		13		—		13
Long-term investments:
Time deposits(1)	—		393		—		393
Accrued expenses and other current liabilities:
Foreign exchange forward contracts	—		(42)		—		(42)
Contingent consideration liabilities	—		—		(11)		(11)
Other noncurrent liabilities:
Foreign exchange forward contracts	—		(36)		—		(36)
Contingent consideration liabilities	—		—		(9)		(9)

(1)Balance represents restricted time deposits. See Note 8.

The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2019:

	Level 1		Level 2		Level 3		Total
	(in millions)
Cash equivalents:
Money market funds	$	1,646	$	—	$	—	$	1,646
Short-term investments:
Time deposits(1)	—		466		—		466
Equity investment security	26		—		—		26
Other current assets:
Foreign exchange forward contracts	—		35		—		35
Other noncurrent assets:
Foreign exchange forward contracts	—		8		—		8
Accrued expenses and other current liabilities:
Foreign exchange forward contracts	—		(8)		—		(8)
Contingent consideration liabilities	—		—		(8)		(8)
Other noncurrent liabilities:
Foreign exchange forward contracts	—		(2)		—		(2)
Contingent consideration liabilities	—		—		(30)		(30)

(1)Includes $414 million in restricted time deposits. See Note 8.