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Derivative Instruments (Tables) | 3 Months Ended
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Mar. 28, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Assets and Liabilities | The following table presents the fair value of its derivative instruments (in millions):
| Asset (Liability)
|  |  | Fair Values as of
| Balance Sheet Classification |  | March 28, 2020 |  | December 31, 2019
Derivative instruments designated as hedges: |  |  |  |  |
Foreign exchange contracts | Prepaid expenses and other current assets |  | $ | 6 |  |  | $ | 3 |
Total derivative instruments designated as hedges |  |  | $ | 6 |  |  | $ | 3 |
Derivative instruments not designated as hedges: |  |  |  |  |
Foreign exchange contracts | Accrued liabilities |  | $ | (1 | ) |  | $ | — |
Forward interest rate swaps | Accrued liabilities |  | (15 | ) |  | (5 | )
Forward interest rate swaps | Other long-term liabilities |  | (33 | ) |  | (8 | )
Total derivative instruments not designated as hedges |  |  | $ | (49 | ) |  | $ | (13 | )
Total net derivative liability |  |  | $ | (43 | ) |  | $ | (10 | )
Schedule of Gains (Losses) from Changes in Fair Values of Derivatives | The following table presents the losses from changes in fair values of derivatives that are not designated as hedges (in millions):
| Losses Recognized in Income
|  |  | Three Months Ended
| Statements of Operations Classification |  | March 28, 2020 |  | March 30, 2019
Derivative instruments not designated as hedges: |  |  |  |  |
Foreign exchange contracts | Foreign exchange loss |  | $ | (1 | ) |  | $ | (2 | )
Forward interest rate swaps | Interest expense, net |  | (35 | ) |  | (8 | )
Total loss recognized in income |  |  | $ | (36 | ) |  | $ | (10 | )
Schedule of Notional Values and Net Fair Value of Forward Contracts | The notional values and the net fair value of these outstanding contracts are as follows (in millions):
| March 28, 2020 |  | December 31, 2019
Notional balance of outstanding contracts: |  |  |
British Pound/U.S. Dollar | £ | 13 |  |  | £ | 14 |
Euro/U.S. Dollar | € | 53 |  |  | € | 36 |
Canadian Dollar/U.S. Dollar | C$ | 2 |  |  | C$ | 1 |
Australian Dollar/U.S. Dollar | A$ | 9 |  |  | A$ | 42 |
Japanese Yen/U.S. Dollar | ¥ | 148 |  |  | ¥ | 264 |
Singapore Dollar/U.S. Dollar | S$ | 19 |  |  | S$ | 19 |
Mexican Peso/U.S. Dollar | Mex$ | 107 |  |  | Mex$ | 115 |
Chinese Yuan/U.S. Dollar | ¥ | 43 |  |  | ¥ |  |
South African Rand/U.S. Dollar | R | 38 |  |  | R | 42 |
Net fair value of liabilities of outstanding contracts | $ | 1 |  |  | $ | — |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure for net investment hedges of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
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