XML 40 R28.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

DERIVATIVE FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Summary of Classification and Fair Value of Derivative Instruments | The following table summarizes the classification and fair values of derivative instruments, including the potential effect of offsetting:
|  | June 30, 2024
(in millions) |  | Prepaid and other current assets |  | Other long-term assets |  | Total Derivative Assets |  | Other current liabilities |  | Other long-term obligations |  | Total Derivative Liabilities
Foreign currency exchange contracts designated as hedges |  | $ | 41 |  |  | $ | 4 |  |  | $ | 45 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 2 |
Foreign currency exchange contracts not designated as hedges |  | 15 |  |  | — |  |  | 15 |  |  | — |  |  | — |  |  | — |
Total derivatives presented gross on the Condensed Consolidated Balance Sheets |  |  |  |  |  | $ | 60 |  |  |  |  |  |  | $ | 2 |
Gross amounts not offset on the Condensed Consolidated Balance Sheets: |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments |  |  |  |  |  | $ | (2) |  |  |  |  |  |  | $ | (2) |
Cash collateral received / pledged |  |  |  |  |  | — |  |  |  |  |  |  | — |
Net amount (legal offset) |  |  |  |  |  | $ | 58 |  |  |  |  |  |  | $ | — |
|  | December 31, 2023
(in millions) |  | Prepaid and other current assets |  | Other long-term assets |  | Total Derivative Assets |  | Other current liabilities |  | Other long-term obligations |  | Total Derivative Liabilities
Foreign currency exchange contracts designated as hedges |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |  |  | $ | 38 |  |  | $ | 7 |  |  | $ | 45 |
Foreign currency exchange contracts not designated as hedges |  | 1 |  |  | — |  |  | 1 |  |  | 15 |  |  | — |  |  | 15 |
Total derivatives presented gross on the Condensed Consolidated Balance Sheets |  |  |  |  |  | $ | 7 |  |  |  |  |  |  | $ | 59 |
Gross amounts not offset on the Condensed Consolidated Balance Sheets: |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments |  |  |  |  |  | $ | (7) |  |  |  |  |  |  | $ | (7) |
Cash collateral received / pledged |  |  |  |  |  | — |  |  |  |  |  |  | — |
Net amount (legal offset) |  |  |  |  |  | $ | — |  |  |  |  |  |  | $ | 52 |
Summary of Effect of Foreign Currency Exchange Contracts | The following table summarizes the effect of our derivative contracts on our Condensed Consolidated Financial Statements:
|  | Three Months Ended |  | Six Months Ended
|  | June 30, |  | June 30,
(in millions) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Derivatives designated as hedges: |  |  |  |  |  |  |  |
Net gain (loss) recognized in Accumulated other comprehensive income |  | $ | 32 |  |  | $ | 5 |  |  | $ | 93 |  |  | $ | (1) |
Net gain reclassified from Accumulated other comprehensive income into Product sales |  | $ | 5 |  |  | $ | 10 |  |  | $ | 5 |  |  | $ | 34 |
Derivatives not designated as hedges: |  |  |  |  |  |  |  |
Net gain recognized in Other (income) expense, net |  | $ | 30 |  |  | $ | 53 |  |  | $ | 53 |  |  | $ | 50 |

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 the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging 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 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration