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Organization, Description of Business and Basis of Presentation (Tables)
3 Months Ended
Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Accounts Receivable Securitization and Factoring Programs
Information related to the trade receivables sold was as follows:
 
 
Three Months Ended March 31,
(In millions)
 
2020
 
2019
Securitization programs
 
 
 
 
Receivables sold in period
 
$
691

 
$
323

Cash consideration
 
691

 
260

Deferred purchase price
 

 
63

 
 
 
 
 
Factoring programs
 
 
 
 
Receivables sold in period
 
264

 
184

Cash consideration
 
263

 
183


Summary of Carrying Value and Valuation of Financial Instruments Within the Fair-Value Hierarchy
The fair value hierarchy of cash equivalents was as follows:
(In millions)
 
Carrying Value
 
Fair Value
 
Level 1
 
Level 2
March 31, 2020
 
$
733

 
$
733

 
$
733

 
$

December 31, 2019
 
144

 
144

 
127

 
17


The fair value of our debt and classification in the fair value hierarchy was as follows:
(In millions)
 
Fair Value
 
Level 1
 
Level 2
March 31, 2020
 
$
6,052

 
$
2,981

 
$
3,071

December 31, 2019
 
5,580

 
3,190

 
2,390