XML 41 R31.htm IDEA: XBRL DOCUMENT v3.23.3

Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2023

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 Sheets Classification						September 30, 2023						December 31, 2022
Derivative instruments designated as hedges:
Foreign exchange contracts			Prepaid expenses and other current assets						$	17					$	—
Foreign exchange contracts			Accrued liabilities						—						(14)
Total derivative instruments designated as hedges									$	17					$	(14)
Derivative instruments not designated as hedges:
Foreign exchange contracts			Prepaid expenses and other current assets						$	1					$	—
Forward interest rate swaps			Prepaid expenses and other current assets						41						25
Forward interest rate swaps			Other long-term assets						86						47
Foreign exchange contracts			Accrued liabilities						—						(5)
Forward interest rate swaps			Accrued liabilities						(15)						—
Forward interest rate swaps			Other long-term liabilities						(26)						—
Total derivative instruments not designated as hedges									$	87					$	67
Total net derivative asset									$	104					$	53

Schedule of Net Gains (Losses) from Changes in Fair Values of Derivatives Not Designated as Hedges

The following table presents the net gains (losses) from changes in fair values of derivatives that are not designated as hedges (in millions):

			Gains (Losses) Recognized in Income
									Three Months Ended												Nine Months Ended
			Statements of Operations Classification						September 30, 2023						October 1, 2022						September 30, 2023						October 1, 2022
Derivative instruments not designated as hedges:
Foreign exchange contracts			Foreign exchange gain (loss)						$	1					$	9					$	(3)					$	17
Forward interest rate swaps			Interest income, net						23						39						34						84
Total net gain recognized in income									$	24					$	48					$	31					$	101

Schedule of Notional Value and Net Fair Value of Outstanding Contracts

The notional values and the net fair values of these outstanding contracts were as follows (in millions):

			September 30, 2023						December 31, 2022
Notional balance of outstanding contracts:
British Pound/U.S. Dollar			£	7					£	11
Euro/U.S. Dollar			€	96					€	191
Euro/Czech Koruna			€	17					€	15
Japanese Yen/U.S. Dollar			¥	265					¥	—
Singapore Dollar/U.S. Dollar			S$	6					S$	5
Mexican Peso/U.S. Dollar			Mex$	149					Mex$	372
Polish Zloty/U.S. Dollar			zł	94					zł	47
Net fair value of assets (liabilities) of outstanding contracts			$	1					$	(5)

X

- References

No definition available.

+ Details

Name:	us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A

+ Details

Name:	us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A

+ Details

Name:	us-gaap_ScheduleOfDerivativesInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

+ Details

Name:	us-gaap_ScheduleOfNetInvestmentHedgesStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration