Fair Value Measurements

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

FAIR VALUE MEASUREMENTS

The following tables summarize the basis used to measure certain assets and liabilities at fair value on a recurring basis:

March 31, 2021	Significant Other Observable Inputs
(In millions)	Level 1		Level 2
Assets at fair value:
Marketable securities	$	—	$	49
Debt securities:
U.S. treasuries1	65		—
Derivatives relating to:2
Foreign currency	—		90
Total assets at fair value	$	65	$	139
Liabilities at fair value:
Derivatives relating to:2
Foreign currency	—		62
Total liabilities at fair value	$	—	$	62

December 31, 2020	Significant Other Observable Inputs
(In millions)	Level 1		Level 2
Assets at fair value:
Marketable securities	$	—	$	43
Debt securities:
U.S. treasuries1	226		—
Derivatives relating to:2
Foreign currency	—		55
Total assets at fair value	$	226	$	98
Liabilities at fair value:
Derivatives relating to:2
Foreign currency	—		135
Total liabilities at fair value	$	—	$	135

March 31, 2020	Significant Other Observable Inputs (Level 2)
(In millions)
Assets at fair value:
Marketable securities	$	10
Derivatives relating to:2
Foreign currency	266
Total assets at fair value	$	276
Liabilities at fair value:
Derivatives relating to:2
Foreign currency	108
Total liabilities at fair value	$	108

1.    The company's investments in debt securities, which are available-for-sale, are included in "marketable securities" in the interim Condensed Consolidated Balance Sheets.

2. See Note 16 - Financial Instruments for the classification of derivatives in the interim Condensed Consolidated Balance Sheets.