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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2020
Fair Value Disclosures [Abstract]  
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis
Financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2020 are classified using the fair value hierarchy in the table below:
 
Total
 
Level 1
 
Level 2
 
(In millions)
Assets
 
 
 
 
 
Cash equivalents:
 
 
 
 
 
Money market funds
$
458

 
$
458

 
$
—

Term deposits
107

 
—

 
107

Derivatives:
 
 
 
 
 
Foreign currency forward contracts
12

 
—

 
12

Investments:
 
 
 
 
 
Term deposits
422

 
—

 
422

Marketable equity securities
69

 
69

 
—

Total assets
$
1,068

 
$
527

 
$
541

Financial assets measured at fair value on a recurring basis as of December 31, 2019 are classified using the fair value hierarchy in the table below:
 
Total
 
Level 1
 
Level 2
 
(In millions)
Assets
 
 
 
 
 
Cash equivalents:
 
 
 
 
 
Money market funds
$
36

 
$
36

 
$
—

Term deposits
865

 
—

 
865

U.S. treasury securities
10

 
10

 
—

Investments:
 
 
 
 
 
Term deposits
526

 
—

 
526

Marketable equity securities
129

 
129

 
—

Total assets
$
1,566

 
$
175

 
$
1,391

 
 
 
 
 
 
Liabilities
 
 
 
 
 
Derivatives:
 
 
 
 
 
Foreign currency forward contracts
$
8

 
$
—

 
$
8