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Risk Management (Tables)

9 Months Ended

Oct. 01, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Largest Net Notional Amounts of the Positions to Buy or Sell Foreign Currency

The following table shows the five largest net notional amounts of the positions to buy or sell foreign currency as of October 1, 2022, and the corresponding positions as of December 31, 2021: 

			Notional Amount
Net Buy (Sell) by Currency			October 1, 2022						December 31, 2021
British pound			$	202					$	128
Euro			181						164
Australian dollar			(101)						(76)
Chinese renminbi			(67)						(89)
Brazilian real			(34)						(23)

Summary of Fair Values and Location In Condensed Consolidated Balance Sheet

The following tables summarize the fair values and locations in the Condensed Consolidated Balance Sheets of all derivative financial instruments held by the Company as of October 1, 2022 and December 31, 2021:

			Fair Values of Derivative Instruments
October 1, 2022			Other Current Assets						Accrued Liabilities
Derivatives designated as hedging instruments:
Foreign exchange contracts			$	11					$	—
Derivatives not designated as hedging instruments:
Foreign exchange contracts			6						32
Total derivatives			$	17					$	32

			Fair Values of Derivative Instruments
December 31, 2021			Other Current Assets						Accrued Liabilities
Derivatives designated as hedging instruments:
Foreign exchange contracts			$	5					$	—
Derivatives not designated as hedging instruments:
Foreign exchange contracts			2						5
Total derivatives			$	7					$	5

Summary of Derivative Instruments and the Effect on the Condensed Consolidated Statements of Operations

The following table summarizes the effect of derivatives on the Company's condensed consolidated financial statements for the three and nine months ended October 1, 2022 and October 2, 2021:

			Financial Statement Location			Three Months Ended												Nine Months Ended
Foreign Exchange Contracts						October 1, 2022						October 2, 2021						October 1, 2022						October 2, 2021
Effective portion			Accumulated other comprehensive gain (loss)			$	12					$	7					$	24					$	10
Forward points recognized			Other income (expense)			1						—						1						1
Undesignated derivatives recognized			Other income (expense)			(54)						(10)						(111)						(19)

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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.

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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.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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