Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Fair Value of Assets and Liabilities

The fair values of the Company’s financial assets and liabilities by level in the fair value hierarchy as of December 31, 2019 and December 31, 2018 were as follows: 

December 31, 2019	Level 1		Level 2		Total
Assets:
Foreign exchange derivative contracts	$	—	$	4	$	4
Common stock and equivalents	25		—		25
Liabilities:
Foreign exchange derivative contracts	$	—	$	5	$	5

December 31, 2018	Level 1		Level 2		Total
Assets:
Foreign exchange derivative contracts	$	—	$	5	$	5
Available-for-sale securities:
Corporate bonds	1		—		1
Common stock and equivalents	19		—		19
Liabilities:
Foreign exchange derivative contracts	$	—	$	4	$	4

Pension and Postretirement Health Care Plan Assets

The fair values of the various pension and postretirement health care benefits plans’ assets by level in the fair value hierarchy as of December 31, 2019 and 2018 were as follows:

U.S. Pension Benefit Plans

December 31, 2019	Level 1		Level 2		Total
Equities	$	12	$	—	$	12
Commingled funds	1,320		555		1,875
Government fixed income securities	—		529		529
Corporate fixed income securities	—		959		959
Short-term investment funds	179		—		179
Total investment securities	$	1,511	$	2,043	$	3,554
Accrued income receivable					20
Cash					27
Fair value plan assets					$	3,601

December 31, 2018	Level 1		Level 2		Total
Equities	$	10	$	—	$	10
Commingled funds	2,074		—		2,074
Government fixed income securities	13		340		353
Corporate fixed income securities	—		964		964
Short-term investment funds	243		—		243
Total investment securities	$	2,340	$	1,304	$	3,644
Accrued income receivable					16
Cash					13
Fair value plan assets					$	3,673

Non-U.S. Pension Benefit Plans

December 31, 2019	Level 1		Level 2		Total
Equities	$	69	$	—	$	69
Commingled funds	217		181		398
Government fixed income securities	4		899		903
Short-term investment funds	170		—		170
Total investment securities	$	460	$	1,080	$	1,540
Cash					4
Accrued income receivable					48
Insurance contracts					49
Fair value plan assets					$	1,641

December 31, 2018	Level 1		Level 2		Total
Equities	$	140	$	—	$	140
Commingled funds	476		16		492
Government fixed income securities	4		647		651
Short-term investment funds	60		—		60
Total investment securities	$	680	$	663	$	1,343
Cash					3
Accrued income receivable					42
Insurance contracts					50
Fair value plan assets					$	1,438

Postretirement Health Care Benefits Plan 

December 31, 2019	Level 1		Level 2		Total
Commingled funds	$	59	$	25	$	84
Government fixed income securities	—		24		24
Corporate fixed income securities	—		43		43
Short-term investment funds	8		—		8
Total investment securities	$	67	$	92	$	159
Accrued income receivable					$	1
Fair value plan assets					$	160

December 31, 2018	Level 1		Level 2		Total
Commingled funds	74		—		74
Government fixed income securities	—		12		12
Corporate fixed income securities	—		34		34
Short-term investment funds	9		—		9
Total investment securities	$	83	$	46	$	129
Cash					4
Fair value plan assets					$	133