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Derivatives and Hedging (Tables)
9 Months Ended
Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Notional and Fair Values of Derivative Instruments
The notional and fair values of derivative instruments are as follows (in millions):
 Notional Amount
Net Amount of Derivative Assets
 Presented in the Statements of Financial Position (1)
Net Amount of Derivative Liabilities
 Presented in the Statements of Financial Position (2)
 September 30,
2021
December 31,
2020
September 30,
2021
December 31,
2020
September 30,
2021
December 31,
2020
Foreign exchange contracts      
Accounted for as hedges$628 $633 $33 $33 $— $— 
Not accounted for as hedges (3)
420 367 — 
Total$1,048 $1,000 $33 $34 $$
(1)Included within Other current assets ($22 million at September 30, 2021 and $11 million at December 31, 2020) or Other non-current assets ($11 million at September 30, 2021 and $23 million at December 31, 2020).
(2)Included within Other current liabilities ($1 million at September 30, 2021 and December 31, 2020).
(3)These contracts typically are for 90-day durations and executed close to the last day of the most recent reporting month, thereby resulting in nominal fair values at the balance sheet date.
Schedule of Derivative Gains (Losses)
The amounts of derivative gains (losses) recognized in the Condensed Consolidated Financial Statements are as follows (in millions):
 Three Months Ended September 30,Nine Months Ended September 30,
 2021202020212020
Gain (loss) recognized in Accumulated other comprehensive loss$(6)$$$(8)

The amounts of derivative gains (losses) reclassified from Accumulated other comprehensive loss to the Condensed Consolidated Statements of Income are as follows (in millions):
Three Months Ended September 30,Nine Months Ended September 30,
2021202020212020
Total revenue$(1)$(3)$(2)$(12)
Compensation and benefits— 
Interest expense— — — (1)
Total$— $(2)$(1)$(13)