Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Fair Value Measurements on a Recurring Basis

The following tables summarize our financial instruments by significant categories and fair value measurement on a recurring basis as of December 31, 2019 and 2018:

(in millions)	Level 1		Level 2		Total
December 31, 2019
Cash equivalents:
Money market mutual funds	$	89	$	—	$	89
U.S. treasuries	—		3		3
Total cash equivalents	89		3		92
Investments:
Asset-backed securities	—		30		30
Corporate bonds	—		96		96
U.S. government agencies and government-sponsored agencies	—		5		5
U.S. treasuries	—		53		53
Other debt securities	—		10		10
Total investments	—		194		194
Restricted cash equivalents:
Money market mutual funds	42		—		42
U.S. treasuries	—		12		12
Certificate of deposit	—		2		2
Commercial paper	14		—		14
Total restricted cash equivalents	56		14		70
Restricted investments:
Corporate bonds	—		28		28
U.S. government agencies and government-sponsored agencies	—		9		9
U.S. treasuries	—		110		110
Certificate of deposit	—		1		1
Total restricted investments	—		148		148
Total investments and restricted cash equivalents and investments	$	145	$	359	$	504

(in millions)	Level 1		Level 2		Total
December 31, 2018
Cash equivalents:
Money market mutual funds	$	4	$	—	$	4
U.S. treasuries	—		1		1
Total cash equivalents	4		1		5
Investments:
Asset-backed securities	—		33		33
Corporate bonds	—		99		99
U.S. government agencies and government-sponsored agencies	—		7		7
U.S. treasuries	—		41		41
Other debt securities	—		9		9
Total investments	—		189		189
Restricted cash equivalents:
Money market mutual funds	48		—		48
Commercial paper	20		—		20
Total restricted cash equivalents	68		—		68
Restricted investments:					—
U.S. treasuries	—		5		5
Exchange traded fund	1		—		1
Certificate of deposit	—		2		2
Total restricted investments	1		7		8
Total investments and restricted cash equivalents and investments	$	73	$	197	$	270

Schedule of Cash Flow Hedging Instruments

The following table summarizes the fair value of our derivative instrument at December 31, 2019:

	December 31, 2019
					Fair Market Value
(in millions)	Hedge type	Final settlement date	Notional amount		Other current assets		Accounts payable and other current liabilities
Derivatives designated as hedging instruments
Collar - LIBOR	Cash flow	May 2022	$	213	$	—	$	—