Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

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
	March 31,
(in millions)	2020		2019
Cash Flow Hedges
Foreign Exchange Contracts
Amount of (loss) recognized in OCI	$	(2)	$	(9)
Amount of loss reclassified from OCI into revenue	2		1
Amount of loss reclassified from OCI into cost of revenue	1		1
Net Investment Hedges
Cross Currency Swaps
Amount of gain recognized in OCI	$	45	$	7
Amount of income recognized in Interest Expense	4		3
Foreign Currency Denominated Debt
Amount of gain recognized in OCI	$	10	$	7

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)	March 31, 2020		December 31, 2019
Derivatives designated as hedging instruments
Assets
Cash Flow Hedges
Other current assets	$	6	$	—
Net Investment Hedges
Other non-current assets	$	29	$	4
Liabilities
Cash Flow Hedges
Other current liabilities	$	(9)	$	—
Net Investment Hedges
Other non-current accrued liabilities	$	(2)	$	(24)