FAIR VALUE MEASUREMENT (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of Assets and Liabilities at Fair Value

The Company’s financial assets and liabilities set forth by level within the fair value hierarchy that were accounted for at fair value on a recurring basis were as follows:



	September 30, 2022
(in millions)	Total		Level 1		Level 2		Level 3

Assets



Cross currency basis swaps	$	43	$	—	$	43	$	—
Foreign exchange forward contracts	70		—		70		—
Long-term debt	36		—		36		—
Total assets	$	149	$	—	$	149	$	—

Liabilities
Interest rate swaps	$	36	$	—	$	36	$	—


Foreign exchange forward contracts	8		—		8		—

Contingent considerations on acquisitions	4		—		—		4
Total liabilities	$	48	$	—	$	44	$	4



	December 31, 2021
(in millions)	Total		Level 1		Level 2		Level 3

Assets

Interest rate swaps	$	5	$	—	$	5	$	—

Long-term debt	4		—		4		—
Cross currency basis swaps	4		—		4		—
Foreign exchange forward contracts	30		—		30		—

Total assets	$	43	$	—	$	43	$	—

Liabilities
Interest rate swaps	$	9	$	—	$	9	$	—

Cross currency basis swaps	7		—		7		—
Foreign exchange forward contracts	4		—		4		—

Contingent considerations on acquisitions	10		—		—		10

Total liabilities	$	30	$	—	$	20	$	10