Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Effect of derivative financial instruments

The table below presents the effect of our derivative financial instruments on the Condensed Consolidated Income Statements and Statements of Comprehensive Income:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in millions)	2019			2018			2019			2018
Cash Flow Hedges
Foreign Exchange Contracts
Amount of (loss) recognized in OCI (a)	$	(5	)	$	—		$	(14	)	$	(9	)
Amount of (gain) loss reclassified from OCI into revenue (a)	2			1			4			(1		)
Amount of loss reclassified from OCI into cost of revenue (a)	1			2			3			2
Net Investment Hedges
Cross Currency Swaps
Amount of gain (loss) recognized in OCI (a)	$	31		$	(5	)	$	30		$	8
Amount of income recognized in Interest Expense	4			—			$	11		$	—
Foreign Currency Denominated Debt
Amount of gain (loss) recognized in OCI (a)	$	22		$	(8	)	$	23		$	11

(a)

Effective portion

Fair values of foreign exchange contracts

The fair values of our foreign exchange contracts currently included in our hedging program designated as hedging instruments were as follows:

(in millions)	September 30, 2019			December 31, 2018
Derivatives designated as hedging instruments
Assets
Cash Flow Hedges
Other current assets	$	—		$	3
Net Investment Hedges
Other non-current assets	$	7		$	—
Liabilities
Cash Flow Hedges
Other current liabilities	$	(5	)	$	(1	)
Net Investment Hedges
Other non-current accrued liabilities	$	(19	)	$	(46	)