FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

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:

	September 30, 2020								December 31, 2019
(in millions)	Carrying Value		Level 1		Level 2		Level 3		Carrying Value		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	423	$	393	$	30	$	—	$	2,696	$	2,646	$	50	$	—
Restricted cash	$	1,011	$	1,011	$	—	$	—	$	1	$	1	$	—	$	—
Foreign currency exchange contracts	$	1	$	—	$	1	$	—	$	—	$	—	$	—	$	—
Liabilities:
Acquisition-related contingent consideration	$	312	$	—	$	—	$	312	$	316	$	—	$	—	$	316
Cross-currency swaps	$	18	$	—	$	18	$	—	$	13	$	—	$	13	$	—
Foreign currency exchange contracts	$	2	$	—	$	2	$	—	$	—	$	—	$	—	$	—

Schedule of effect of hedging instruments on financial statements

The following table presents the effect of hedging instruments on the Consolidated Statements of Comprehensive Income (Loss) and the Consolidated Statements of Operations for the three and nine months ended September 30, 2020 and 2019:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2020		2019		2020		2019
(Loss) Gain recognized in Other comprehensive income (loss)	$	(54)	$	5	$	1	$	5
Gain excluded from assessment of hedge effectiveness	$	6	$	3	$	17	$	3
Location of gain of excluded component	Interest Expense				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 nine months ended September 30, 2020 and 2019:

	Nine Months Ended September 30,
(in millions)	2020				2019
Balance, beginning of period			$	316			$	339
Adjustments to Acquisition-related contingent consideration:
Accretion for the time value of money	$	17			$	16
Fair value adjustments due to changes in estimates of other future payments	9				(14)
Acquisition-related contingent consideration			26				2
Payments			(30)				(28)
Balance, end of period			312				313
Current portion included in Accrued and other current liabilities			37				46
Non-current portion			$	275			$	267

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:

	September 30, 2020								December 31, 2019
(in millions)	Carrying Value		Level 1		Level 2		Level 3		Carrying Value		Level 1		Level 2		Level 3
Other non-current assets:
Non-current assets held for sale	$	—	$	—	$	—	$	—	$	39	$	—	$	—	$	39