Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present our assets and liabilities measured at fair value on a recurring basis at June 30, 2022 and December 31, 2021:

		Fair Value Measurements on a Recurring Basis at June 30, 2022
	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets:
Available-for-sale securities:
Mutual funds / exchange traded funds	Prepaid and other current assets and other non-current assets	$	7	$	—	$	—	$	7
	Fiduciary assets		131		—		—		131
Derivatives:
Derivative financial instruments (i)	Prepaid and other current assets and other non-current assets	$	—	$	2	$	—	$	2
Liabilities:
Contingent consideration:
Contingent consideration (ii)	Other current liabilities and other non-current liabilities	$	—	$	—	$	56	$	56
Derivatives:
Derivative financial instruments (i)	Other current liabilities and other non-current liabilities	$	—	$	18	$	—	$	18

		Fair Value Measurements on a Recurring Basis at December 31, 2021
	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets:
Available-for-sale securities:
Mutual funds / exchange traded funds	Prepaid and other current assets and other non-current assets	$	9	$	—	$	—	$	9
	Fiduciary assets		152		—		—		152
Certificates of deposit/term deposits	Prepaid and other current assets and other non-current assets		200		—		—		200
Derivatives:
Derivative financial instruments (i)	Prepaid and other current assets and other non-current assets	$	—	$	18	$	—	$	18
Liabilities:
Contingent consideration:
Contingent consideration (ii)	Other current liabilities and other non-current liabilities	$	—	$	—	$	51	$	51
Derivatives:
Derivative financial instruments (i)	Other current liabilities and other non-current liabilities	$	—	$	—	$	—	$	—

(i)See Note 9 — Derivative Financial Instruments for further information on our derivative investments.

(ii)Probability weightings are based on our knowledge of the past and planned performance of the acquired entity to which the contingent consideration applies. The fair value weighted-average discount rates used in our material contingent consideration calculations were 12.00% and 11.92% at June 30, 2022 and December 31, 2021, respectively. The range of these discount rates was 3.53% - 13.80% at June 30, 2022. Using different probability weightings and discount rates could result in an increase or decrease of the contingent consideration payable.

Schedule of Change in Fair Value of Level 3 Liabilities

The following table summarizes the change in fair value of the Level 3 liabilities:

Fair Value Measurements Using Significant Unobservable Inputs (Level 3)	June 30, 2022
Balance at December 31, 2021	$	51
Obligations assumed		22
Payments		(20	)
Realized and unrealized losses (i)		5
Foreign exchange		(2	)
Balance at June 30, 2022	$	56

(i)Realized and unrealized losses include accretion and adjustments to contingent consideration liabilities, which are included within Interest expense and Other operating expenses, respectively, on the condensed consolidated statements of comprehensive income.

Schedule of Liabilities Whose Carrying Values Differ From the Fair Value and are Not Measured on a Recurring Basis

Fair value information about financial instruments not measured at fair value

The following tables present our liabilities not measured at fair value on a recurring basis at June 30, 2022 and December 31, 2021:

	June 30, 2022				December 31, 2021
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Long-term note receivable	$	65	$	63	$	69	$	70
Liabilities:
Current debt	$	—	$	—	$	613	$	616
Long-term debt	$	4,720	$	4,465	$	3,974	$	4,453