FAIR VALUE MEASUREMENT (Tables)

9 Months Ended

Sep. 30, 2021

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

Assets

Interest rate swaps	$	3	$	—	$	3	$	—

Cross currency basis swaps	3		—		3		—
Foreign exchange forward contracts	25		—		25		—
Long-term debt	2		—		2		—
Total assets	$	33	$	—	$	33	$	—

Liabilities
Interest rate swaps	$	5	$	—	$	5	$	—

Cross currency basis swaps	14		—		14		—
Foreign exchange forward contracts	4		—		4		—

Contingent considerations on acquisitions	11		—		—		11
Total liabilities	$	34	$	—	$	23	$	11



	December 31, 2020
(in millions)	Total		Level 1		Level 2		Level 3

Assets




Foreign exchange forward contracts	$	10	$	—	$	10	$	—

Total assets	$	10	$	—	$	10	$	—

Liabilities


Cross currency basis swaps	$	20	$	—	$	20	$	—
Foreign exchange forward contracts	15		—		15		—

Contingent considerations on acquisitions	5		—		—		5

Total liabilities	$	40	$	—	$	35	$	5