FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2020

Schedule of components and classification of financial assets and liabilities measured at fair value

The following fair value hierarchy table presents the components and classification of the Company’s financial assets and liabilities measured at fair value on a recurring basis:



	March 31, 2020								December 31, 2019
(in millions)	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	37	$	12	$	25	$	—	$	2,696	$	2,646	$	50	$	—
Restricted cash	$	1,011	$	1,011	$	—	$	—	$	1	$	1	$	—	$	—
Cross-currency swaps	$	55	$	—	$	55	$	—	$	—	$	—	$	—	$	—
Foreign currency exchange contracts	$	1	$	—	$	1	$	—	$	—	$	—	$	—	$	—
Liabilities:
Acquisition-related contingent consideration	$	312	$	—	$	—	$	312	$	316	$	—	$	—	$	316
Cross-currency swaps	$	—	$	—	$	—	$	—	$	13	$	—	$	13	$	—
Foreign currency exchange contracts	$	6	$	—	$	6	$	—	$	—	$	—	$	—	$	—

Schedule of effect of hedging instruments on financial statements

The following table presents the effect of hedging instruments on the Consolidated Statements of Comprehensive Loss and the Consolidated Statements of Operations for the three months ended March 31, 2020:



(in millions)	Gain recognized in Other Comprehensive Loss		Gain excluded from assessment of hedge effectiveness		Location of gain in income of excluded component
Cross-currency swaps	$	73	$	6	Interest expense

Schedule of reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3)

The following table presents a reconciliation of contingent consideration obligations measured on a recurring basis using significant unobservable inputs (Level 3) for the three months ended March 31, 2020 and 2019:



(in millions)	2020					2019
Balance, beginning of period			$	316					$	339
Adjustments to Acquisition-related contingent consideration:
Accretion for the time value of money	$	6				$	6
Fair value adjustments due to changes in estimates of other future payments	7					(27		)
Acquisition-related contingent consideration			13						(21		)
Payments			(17		)				(9		)
Balance, end of period			312						309
Current portion included in Accrued and other current liabilities			44						45
Non-current portion			$	268					$	264

Schedule of assets and liabilities measured at fair value on a non-recurring basis

The following table presents the components and classification of the Company’s financial assets and liabilities measured at fair value on a non-recurring basis:



	March 31, 2020								December 31, 2019
(in millions)	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Other non-current assets:
Non-current assets held for sale	$	—	$	—	$	—	$	—	$	39	$	—	$	—	$	39