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Derivative Instruments (Tables) | 6 Months Ended
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Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Location and Fair Value Amounts of Cash Flow Hedges | The following table provides information on the location and fair value amounts of our cash flow hedges and net investment hedges as of June 30, 2025 and December 31, 2024:
(in millions) |  | June 30, |  | December 31,
Balance Sheet Location |  | 2025 |  | 2024
Derivatives designated as cash flow hedges: |  |  |  |
Prepaid and other current assets | Foreign exchange forward contracts | $ | 11 |  |  | $ | 4 |
Other current liabilities | Foreign exchange forward contracts | $ | 8 |  |  | $ | 5 |
Derivatives designated as net investment hedges: |  |  |  |
Other non-current assets | Cross currency swaps | $ | — |  |  | $ | 58 |
Other non-current liabilities | Cross currency swaps | $ | 361 |  |  | $ | 2 |
Schedule of Pre-tax Gains (Losses) on Cash Flow Hedges | The following table provides information on the location and amounts of pre-tax gains (losses) on our cash flow hedges and net investment hedges for the periods ended June 30: Three Months
(in millions) | Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) |  | Location of Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) |  | Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)
| 2025 |  | 2024 |  |  |  | 2025 |  | 2024
Cash flow hedges - designated as hedging instruments |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts | $ | — |  |  | $ | — |  |  | Revenue, Selling and general expenses |  | $ | 3 |  |  | $ | 2 |
Interest rate swap contracts | $ | — |  |  | $ | — |  |  | Interest expense, net |  | $ | — |  |  | $ | — |
Net investment hedges - designated as hedging instruments |  |  |  |  |  |  |  |  |
Cross currency swaps | $ | (342) |  |  | $ | 16 |  |  | Interest expense, net |  | $ | (1) |  |  | $ | (1) |
Six Months
(in millions) | Gain (Loss) recognized in Accumulated Other Comprehensive Loss (effective portion) |  | Location of Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion) |  | Gain (Loss) reclassified from Accumulated Other Comprehensive Loss into Income (effective portion)
| 2025 |  | 2024 |  |  |  | 2025 |  | 2024
Cash flow hedges - designated as hedging instruments |  |  |  |  |  |  |  |  |
Foreign exchange forward contracts | $ | 4 |  |  | $ | (1) |  |  | Revenue, Selling and general expenses |  | $ | 4 |  |  | $ | 4 |
Interest rate swap contracts | $ | — |  |  | $ | 21 |  |  | Interest expense, net |  | $ | — |  |  | $ | — |
Net investment hedges - designated as hedging instruments |  |  |  |  |  |  |  |  |
Cross currency swaps | $ | (419) |  |  | $ | 46 |  |  | Interest expense, net |  | $ | (2) |  |  | $ | (2) |
Schedule of Cash Flow Hedges included in AOCI | The activity related to the change in unrealized gains (losses) in accumulated other comprehensive loss was as follows for the periods ended June 30:
(in millions) | Three Months |  | Six Months
| 2025 |  | 2024 |  | 2025 |  | 2024
Cash Flow Hedges |  |  |  |  |  |  |
Foreign exchange forward contracts |  |  |  |  |  |  |
Net unrealized gains on cash flow hedges, net of taxes, beginning of period | $ | 4 |  |  | $ | 5 |  |  | $ | 1 |  |  | $ | 5 |
Change in fair value, net of tax | 3 |  |  | 2 |  |  | 7 |  |  | 4 |
Reclassification into earnings, net of tax | (3) |  |  | (2) |  |  | (4) |  |  | (4) |
Net unrealized gains on cash flow hedges, net of taxes, end of period | $ | 4 |  |  | $ | 5 |  |  | $ | 4 |  |  | $ | 5 |
Interest rate swap contracts |  |  |  |  |  |  |
Net unrealized gains on cash flow hedges, net of taxes, beginning of period | $ | 99 |  |  | $ | 100 |  |  | $ | 99 |  |  | $ | 84 |
Change in fair value, net of tax | — |  |  | — |  |  | — |  |  | 16 |
Reclassification into earnings, net of tax | — |  |  | — |  |  | — |  |  | — |
Net unrealized gains on cash flow hedges, net of taxes, end of period | $ | 99 |  |  | $ | 100 |  |  | $ | 99 |  |  | $ | 100 |
Net Investment Hedges |  |  |  |  |  |  |
Net unrealized (losses) gains on net investment hedges, net of taxes, beginning of period | $ | (25) |  |  | $ | 2 |  |  | $ | 33 |  |  | $ | (21) |
Change in fair value, net of tax | (259) |  |  | 11 |  |  | (318) |  |  | 33 |
Reclassification into earnings, net of tax | 1 |  |  | 1 |  |  | 2 |  |  | 2 |
Net unrealized (losses) gains on net investment hedges, net of taxes, end of period | $ | (283) |  |  | $ | 14 |  |  | $ | (283) |  |  | $ | 14 |

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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 -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 5: 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 + Details
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