XML 46 R30.htm IDEA: XBRL DOCUMENT
v3.24.2

Fair Value Measurements (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Financial Instruments, Financial Liabilities, Balance Sheet Groupings [Abstract] |
Distribution of Financial Instruments, Measured at Fair Value on a Recurring Basis | The distribution of the Company’s financial instruments measured at fair value on a recurring basis within the Valuation Hierarchy were as follows:
|  | June 30, 2024 |  | December 31, 2023
|  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |  | Quoted Prices in Active Markets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
|  | (in millions)
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities available-for-sale 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government and agency securities |  | $ | 39 |  |  | $ | 48 |  |  | $ | — |  |  | $ | 87 |  |  | $ | 33 |  |  | $ | 53 |  |  | $ | — |  |  | $ | 86 |
Corporate securities |  | — |  |  | 203 |  |  | — |  |  | 203 |  |  | — |  |  | 200 |  |  | — |  |  | 200 |
Derivative instruments 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | — |  |  | 113 |  |  | — |  |  | 113 |  |  | — |  |  | 36 |  |  | — |  |  | 36 |
Marketable securities 3: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities |  | 498 |  |  | — |  |  | — |  |  | 498 |  |  | 506 |  |  | — |  |  | — |  |  | 506 |
Deferred compensation plan 4: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred compensation assets |  | 104 |  |  | — |  |  | — |  |  | 104 |  |  | 93 |  |  | — |  |  | — |  |  | 93 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | $ | — |  |  | $ | 13 |  |  | $ | — |  |  | $ | 13 |  |  | $ | — |  |  | $ | 104 |  |  | $ | — |  |  | $ | 104 |
Interest rate contracts |  | — |  |  | 83 |  |  | — |  |  | 83 |  |  | — |  |  | 79 |  |  | — |  |  | 79 |
Deferred compensation plan 5: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred compensation liabilities |  | 102 |  |  | — |  |  | — |  |  | 102 |  |  | 91 |  |  | — |  |  | — |  |  | 91 |
1 The Company’s U.S. government securities are classified within Level 1 of the Valuation Hierarchy as the fair values are based on unadjusted quoted prices for identical assets in active markets. The fair value of the Company’s available-for-sale non-U.S. government and agency securities and corporate securities are based on observable inputs such as quoted prices, benchmark yields and issuer spreads for similar assets in active markets and are therefore included in Level 2 of the Valuation Hierarchy. 2 The Company’s foreign exchange and interest rate derivative asset and liability contracts measured at fair value are based on observable inputs such as broker quotes for similar derivative instruments. See Note 16 (Derivative and Hedging Instruments) for further details. 3 The Company’s Marketable securities are publicly held and fair values are based on unadjusted quoted prices in their respective active markets. 4 The Company has a nonqualified deferred compensation plan where assets are invested primarily in mutual funds held in a rabbi trust, which is restricted for payments to participants of the plan. The Company has elected to use the fair value option for these mutual funds, which are measured using quoted prices of identical instruments in active markets and are included in prepaid expenses and other current assets on the consolidated balance sheet. 5The deferred compensation liabilities are measured at fair value based on the quoted prices of identical instruments to the investment vehicles selected by the participants. These are included in other liabilities on the consolidated balance sheet.

X
- References No definition available. + Details
Name: | us-gaap_FinancialInstrumentsFinancialLiabilitiesBalanceSheetGroupingsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration