Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Investments All Other Investments [Abstract]

Schedule of Cash Equivalents and Marketable Securities

The following table shows our cash equivalents and marketable securities that are measured at fair value on a recurring basis and were categorized using the fair value hierarchy, as well as their classification on our unaudited condensed consolidated balance sheet as of June 30, 2020 (in millions).

	Amortized Cost		Fair Value (1)		Cash and Cash Equivalents
Level 2:
Term deposits	$	115	$	115	$	115
Total	$	115	$	115	$	115

(1) Unrealized gains or losses related to our cash equivalents were not material.

Notional Principal Amounts of Outstanding Derivative Instruments

The following table shows the notional principal amounts of our outstanding derivative instruments as of the periods presented:

	June 30, 2020		December 31, 2019
	(in millions)
Foreign currency exchange - forward contracts (1) (2)	$	—	$	10

(1) Derivative contracts address foreign currency exchange fluctuations for the Euro versus the U.S. dollar. The Company had no outstanding derivative contracts as of June 30, 2020 and one outstanding derivative contract as of December 31, 2019. These outstanding derivatives are not designated as hedging instruments and have an original maturity period of 90 days or less.

(2) The fair value of our outstanding derivative as of December 31, 2019 was not material.