Assets and liabilities of the Company are measured at fair value on a recurring basis as of September 30, 2024 and are summarized as follows:
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Fair Value Measurements at Reporting Date Using |
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Description |
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September 30, 2024 |
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|
Quoted Prices in
Active Markets for
Identical Assets
(Level 1) |
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Significant
Other
Observable
Inputs
(Level 2) |
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Significant
Unobservable
Inputs
(Level 3) |
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Assets: |
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Cash equivalents: |
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Money market funds |
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$ |
415 |
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$ |
415 |
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$ |
— |
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$ |
— |
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Time deposits |
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7 |
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— |
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7 |
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— |
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Equity securities |
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1 |
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1 |
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— |
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— |
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Available-for-sale securities: |
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Group insurance contracts |
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6 |
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— |
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6 |
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— |
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Derivatives |
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Foreign exchange forward contracts |
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3 |
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— |
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3 |
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— |
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Interest rate swaps - current |
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8 |
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— |
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8 |
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— |
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Interest rate swaps - non-current |
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8 |
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— |
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8 |
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— |
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Pension and deferred compensation plan assets |
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20 |
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— |
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|
20 |
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— |
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Total assets |
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$ |
468 |
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$ |
416 |
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$ |
52 |
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$ |
— |
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Liabilities: |
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Derivatives |
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Foreign exchange forward contracts-current |
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$ |
4 |
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$ |
— |
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$ |
4 |
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$ |
— |
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Interest rate swaps - current |
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11 |
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— |
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|
11 |
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|
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— |
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Total liabilities |
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$ |
15 |
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|
$ |
— |
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$ |
15 |
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|
$ |
— |
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Reported as follows: |
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Assets: |
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Cash and cash equivalents(1) |
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$ |
422 |
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$ |
415 |
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$ |
7 |
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$ |
— |
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Other current assets |
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11 |
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— |
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11 |
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— |
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Total current assets |
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$ |
433 |
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$ |
415 |
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$ |
18 |
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$ |
— |
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Other assets |
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$ |
35 |
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$ |
1 |
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$ |
34 |
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$ |
— |
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Liabilities: |
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|
|
|
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Other current liabilities |
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$ |
15 |
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|
$ |
— |
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$ |
15 |
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|
$ |
— |
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(1) The cash and cash equivalents amount presented in the table above does not include cash of $439 as of September 30, 2024. Assets and liabilities of the Company are measured at fair value on a recurring basis as of December 31, 2023 and are summarized as follows:
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|
|
|
|
|
|
|
|
|
|
Fair Value Measurements at Reporting Date Using |
|
Description |
|
December 31, 2023 |
|
|
Quoted Prices in
Active Markets for
Identical Assets
(Level 1) |
|
|
Significant
Other
Observable
Inputs
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
Assets: |
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Cash equivalents: |
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|
|
|
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|
|
|
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Money market funds |
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$ |
356 |
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|
$ |
356 |
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|
$ |
— |
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|
$ |
— |
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Time deposits |
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|
12 |
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— |
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12 |
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— |
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Available-for-sale securities: |
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|
|
|
|
|
|
|
|
|
|
|
Group insurance contracts |
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|
6 |
|
|
|
— |
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|
|
6 |
|
|
|
— |
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Derivatives |
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|
|
|
|
|
|
|
|
|
|
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Foreign exchange forward contracts |
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|
2 |
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|
— |
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|
2 |
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|
— |
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Interest rate caps - current |
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|
3 |
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— |
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|
3 |
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— |
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Interest rate swaps - non-current |
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|
41 |
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|
|
— |
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|
41 |
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|
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— |
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Pension and deferred compensation plan assets |
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|
19 |
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|
|
— |
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|
19 |
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|
|
— |
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Total assets |
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$ |
439 |
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|
$ |
356 |
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|
$ |
83 |
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|
$ |
— |
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Liabilities: |
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|
|
|
|
|
|
|
|
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Derivatives |
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|
|
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Foreign exchange forward contracts |
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$ |
5 |
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|
$ |
— |
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$ |
5 |
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|
$ |
— |
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Total liabilities |
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$ |
5 |
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|
$ |
— |
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|
$ |
5 |
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|
$ |
— |
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Reported as follows: |
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Assets: |
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|
|
|
|
|
|
|
|
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|
Cash and cash equivalents (1) |
|
$ |
368 |
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|
$ |
356 |
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|
$ |
12 |
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|
$ |
— |
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Other current assets |
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|
5 |
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|
|
— |
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|
5 |
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— |
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Total current assets |
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$ |
373 |
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$ |
356 |
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|
$ |
17 |
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|
$ |
— |
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Other assets |
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$ |
66 |
|
|
$ |
— |
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|
$ |
66 |
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|
$ |
— |
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Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
Other current liabilities |
|
$ |
5 |
|
|
$ |
— |
|
|
$ |
5 |
|
|
$ |
— |
|
(1) The cash and cash equivalents amount presented in the table above does not include cash of $507 as of December 31, 2023.
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