Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 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 Consolidated Income Statements and Consolidated Statements of Comprehensive Income:

	Year Ended December 31,
(in millions)	2019			2018			2017
Derivatives in Cash Flow Hedges
Foreign Exchange Contracts
Amount of (loss) gain recognized in OCI (a)	$	(14	)	$	(8	)	$	9
Amount of loss (gain) reclassified from OCI into revenue (a)	7			—			(6		)
Amount of loss reclassified from OCI into cost of revenue (a)	5			4			1
Derivatives in Net Investment Hedges
Cross Currency Swaps
Amount of gain (loss) recognized in OCI (a)	$	22		$	22		$	(53	)
Amount income recognized in Interest Expense	16			2			—
Foreign Currency Denominated Debt
Amount of gain (loss) recognized in OCI (a)	$	13		$	27		$	(74	)

(a)

Effective portion

Schedule of Foreign Exchange Contracts, Statement of Financial Position

The fair values of our derivative contracts currently included in our hedging program were as follows:

	December 31,
(in millions)	2019			2018
Derivatives designated as hedging instruments
Assets
Cash Flow Hedges
Other current assets	$	—		$	3
Net Investment Hedges
Other non-current assets	4			—
Liabilities
Cash Flow Hedges
Other current liabilities	—			(1		)
Net Investment Hedges
Other non-current liabilities	(24		)	(46		)

The fair value of our long-term debt, due in 2023, designated as a net investment hedge was $591 million and $599 million as of December 31, 2019 and 2018, respectively.