XML 38 R25.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Derivative Instruments and Hedging (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
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 unaudited condensed consolidated balance sheets (in millions):
| Derivative Assets(1)
| Location | December 31, 2023 | June 30, 2024
Derivatives designated as hedging instruments: |  |  |
Foreign exchange contracts (current) | Prepaids and other current assets | $ | 4 |  | $ | 26 |
Foreign exchange contracts (noncurrent) | Other assets, noncurrent | — |  | 1 |
Total derivatives designated as hedging instruments |  | $ | 4 |  | $ | 27 |
Derivatives not designated as hedging instruments: |  |  |
Foreign exchange contracts (current) | Prepaids and other current assets | $ | 23 |  | $ | 37 |
| Derivative Liabilities(1)
| Location | December 31, 2023 | June 30, 2024
Derivatives designated as hedging instruments: |  |  |
Foreign exchange contracts (current) | Accrued expenses, accounts payable, and other current liabilities | $ | 25 |  | $ | 3 |
Foreign exchange contracts (noncurrent) | Other liabilities, noncurrent | 5 |  | — |
Total derivatives designated as hedging instruments |  | $ | 30 |  | $ | 3 |
Derivatives not designated as hedging instruments: |  |  |
Foreign exchange contracts (current) | Accrued expenses, accounts payable, and other current liabilities | $ | 30 |  | $ | 10 |
(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 presents the impact of derivative instruments designated as cash flow hedges on AOCI, net of tax (in millions):
| Gain (Loss) Recognized in Other Comprehensive Income (Loss) |  | Gain Reclassified from AOCI into Revenue
| Three Months Ended June 30, |  | Six Months Ended June 30, |  | Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 | 2024 |  | 2023 | 2024 |  | 2023 | 2024 |  | 2023 | 2024
Derivatives designated as cash flow hedges: |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | $ | 2 |  | $ | 21 |  |  | $ | (2) |  | $ | 71 |  |  | $ | — |  | $ | 7 |  |  | $ | — |  | $ | 9 |
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 impact of activity of derivative instruments not designated as hedging instruments on the unaudited condensed consolidated statements of operations (in millions):
| Realized Gain (Loss) on Derivatives |  | Unrealized Gain on Derivatives
| Three Months Ended June 30, |  | Six Months Ended June 30, |  | Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 | 2024 |  | 2023 | 2024 |  | 2023 | 2024 |  | 2023 | 2024
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | $ | (64) |  | $ | 2 |  |  | $ | (84) |  | $ | (19) |  |  | $ | 13 |  | $ | 23 |  |  | $ | 12 |  | $ | 34 |

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 gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
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

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 4CC -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CC + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration