Fair Value of Financial Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2017

Fair Value Disclosures [Abstract]

Fair value of financial assets and liabilities

The following table represents assets and liabilities measured at fair value on a recurring basis. The basis for the measurement at fair value in all cases is Level 2 – Significant Other Observable Inputs.

(in millions)	June 30, 2017		December 31, 2016
Assets:
Foreign exchange contracts - forwards	$	3	$	1
Deferred compensation investments in cash surrender life insurance	105		99
Deferred compensation investments in mutual funds	9		10
Total	$	117	$	110
Liabilities:
Foreign exchange contracts - forwards	$	1	$	3
Deferred compensation plan liabilities	118		113
Total	$	119	$	116

Estimated fair values of financial assets and liabilities not measured at fair value on a recurring basis

The estimated fair values of our other financial assets and liabilities not measured at fair value on a recurring basis were as follows:

	June 30, 2017				December 31, 2016
(in millions)	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Cash and cash equivalents	$	309	$	309	$	390	$	390
Restricted cash - related party	18		18		18		18
Accounts receivable, net	1,374		1,374		1,286		1,286
Short-term debt	59		59		28		28
Long-term debt	2,071		2,165		1,913		1,933