As of December 31, 2021 and 2020, we had foreign currency forward contracts with total notional values of $833 million and $583 million, respectively, which are not designated as hedging instruments. Our foreign currency contracts are classified within Level 2 as the valuation inputs are based on quoted prices and market observable data of similar instruments in active markets, such as currency spot and forward rates. The fair value of these outstanding derivative contracts was as follows (in millions):


	Consolidated Balance Sheet Location	December 31, 2021		December 31, 2020
Derivative Assets:
Foreign currency derivative contracts	Prepaid expenses and other current assets	$	2	$	8
Derivative Liabilities
Foreign currency derivative contracts	Accrued expenses and other current liabilities	$	3	$	10