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Fair Value of Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2019
Fair Value Disclosures [Abstract]  
Summary of Fair Value of Financial Assets and (Liabilities)

The following table summarizes the fair value of the Company’s financial assets and (liabilities) as of September 30, 2019 and December 31, 2018 (dollars in millions):

 

 

 

Fair Value Measurements Using

 

 

 

Quoted Prices in Active

Markets for Identical

Assets (Level 1)

 

 

Significant Other

Observable Inputs

(Level 2)

 

 

TOTAL

 

 

 

September 30,

2019

 

 

December 31,

2018

 

 

September 30,

2019

 

 

December 31,

2018

 

 

September 30,

2019

 

 

December 31,

2018

 

Cash equivalents

 

$

10

 

 

$

111

 

 

$

 

 

$

 

 

$

10

 

 

$

111

 

Rabbi trust assets

 

 

11

 

 

 

9

 

 

 

 

 

 

 

 

 

11

 

 

 

9

 

Deferred compensation obligation

 

 

(11

)

 

 

(9

)

 

 

 

 

 

 

 

 

(11

)

 

 

(9

)

Derivative liabilities

 

 

 

 

 

 

 

 

(41

)

 

 

(9

)

 

 

(41

)

 

 

(9

)

Total

 

$

10

 

 

$

111

 

 

$

(41

)

 

$

(9

)

 

$

(31

)

 

$

102