Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of 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 March 31, 2022 are classified using the fair value hierarchy in the table below:

	Total		Level 1		Level 2		Level 3
	(In millions)
Assets
Cash equivalents:
Money market funds	$	3	$	3	$	—	$	—
Mutual funds	22		22		—		—
Term deposits	950		—		950		—
Investments:
Equity investments	930		117		—		813
Total assets	$	1,905	$	142	$	950	$	813
Liabilities
Derivatives:
Cross-currency interest rate swaps	$	3	$	—	$	3	$	—

Financial assets measured at fair value on a recurring basis as of December 31, 2021 are classified using the fair value hierarchy in the table below:

	Total		Level 1		Level 2		Level 3
	(In millions)
Assets
Cash equivalents:
Money market funds	$	47	$	47	$	—	$	—
Mutual funds	23		23		—		—
Term deposits	153		—		153		—
Derivatives:
Foreign currency forward contracts	3		—		3		—
Investments:
Term deposits	200		—		200		—
Equity investments	909		94		—		815
Total assets	$	1,335	$	164	$	356	$	815

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table reconciles, in millions, the beginning and ending balances of our Level 3 equity investment in GBT for which we have elected the fair value option. There were no internal movements to or from Level 3 from Level 1 or 2 during the three months ended March 31, 2022.

Balance as of December 31, 2021	$	815
Upward (downward) adjustment to valuation	(2)
Balance as of March 31, 2022	$	813