Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Schedule of cash and cash equivalents and other investments reconciliation from adjusted cost to fair value

Our cash and cash equivalents and other investments consist of the following:

	September 30, 2020
	Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
	(in millions)
Cash	$	100	$	—	$	—	$	100
Cash equivalents:
U.S. and Canadian government obligations	439		—		—		439
Other debt securities	14		—		—		14
Total cash and cash equivalents	$	553	$	—	$	—	$	553
Nonqualified employee benefit trusts	16		3		—		19

	December 31, 2019
	Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
	(in millions)
Cash	$	59	$	—	$	—	$	59
Cash equivalents:
U.S. and Canadian government obligations	211		—		—		211
Other debt securities	17		—		—		17
Total cash and cash equivalents	$	287	$	—	$	—	$	287
Nonqualified employee benefit trusts	17		2		—		19

Schedule of assets and liabilities measured at fair value on a recurring basis

The following tables present assets and liabilities included in our consolidated balance sheets as of September 30, 2020 and December 31, 2019 that are recognized at fair value on a recurring basis, and indicate the fair value hierarchy utilized to determine such fair value:

	September 30, 2020
	Total Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in millions)
Cash equivalents	$	453	$	453	$	—	$	—
Nonqualified employee benefit trusts	19		19		—		—
Embedded derivative liability	(22)		—		(22)		—

	December 31, 2019
	Total Fair Value		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(in millions)
Cash equivalents	$	228	$	228	$	—	$	—
Nonqualified employee benefit trusts	19		19		—		—
Derivative liabilities	(12)		—		(12)		—
Embedded derivative liability	(20)		—		(20)		—

Schedule of carrying amounts and estimated fair values of financial instruments

The carrying amount and estimated fair value of our financial instruments are as follows:

	September 30, 2020				December 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
	(in millions)
Long-term debt	$	3,960	$	4,582	$	3,957	$	4,295