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Derivative Instruments and Hedging (Tables) | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments on the Company’s Condensed Consolidated Balance Sheets | The following table summarizes the effect of derivative instruments on the Company’s consolidated balance sheets (in millions):
| Derivative Assets(1)
|  | Fair value as of December 31,
| Location | 2022 | 2023
Derivatives designated as hedging instruments: |  |  |
Foreign exchange contracts (current) | Prepaids and other current assets | $ | — |  | $ | 4 |
Derivatives not designated as hedging instruments: |  |  |
Foreign exchange contracts (current) | Prepaids and other current assets | $ | 14 |  | $ | 23 |
| Derivative Liabilities(1)
|  | Fair value as of December 31,
| Location | 2022 | 2023
Derivatives designated as hedging instruments: |  |  |
Foreign exchange contracts (current) | Accrued expenses, accounts payable, and other current liabilities | $ | — |  | $ | 25 |
Foreign exchange contracts (noncurrent) | Other liabilities, noncurrent | — |  | 5 |
Total derivatives designated as hedging instruments |  | $ | — |  | $ | 30 |
Derivatives not designated as hedging instruments: |  |  |
Foreign exchange contracts (current) | Accrued expenses, accounts payable, and other current liabilities | $ | 31 |  | $ | 30 |
(1)Derivative assets and derivatives liabilities are measured using Level 2 inputs.
Schedule of Derivative Instruments Designated as Cash Flow Hedges and the Impact of Derivative Contracts on AOCI | The following table summarizes the activity of derivative instruments designated as cash flow hedges before reclassifications from AOCI to revenue and the impact of these derivative contracts on AOCI, net of tax (in millions):
|  |  | Year Ended December 31,
|  |  | 2023 |  |  |  |
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |
Foreign exchange contracts(1) |  |  | $ | (30) |  |  |  |  |
(1)Loss recognized in other comprehensive income (loss).
Schedule of Derivative Instruments Not Designated as Hedging Instruments and the Impact of Derivative Contracts on the Condensed Consolidated Statements of Operations | The following table presents the activity of derivative instruments not designated as hedging instruments and the impact of these derivative contracts on the consolidated statements of operations (in millions):
| Realized Gain (Loss) on Derivatives |  | Unrealized Gain (Loss) on Derivatives
| Year Ended December 31, |  | Year Ended December 31,
| 2021 | 2022 | 2023 |  | 2021 | 2022 | 2023
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |
Foreign exchange contracts | $ | 19 |  | $ | 92 |  | $ | (43) |  |  | $ | 35 |  | $ | (33) |  | $ | 10 |

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