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Derivatives and Hedging Instruments (Tables) | 6 Months Ended
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Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of notional amounts of outstanding derivative positions | The aggregate notional amount of the fixed-to-fixed cross-currency rate swap contracts were as follows:
(In millions) | June 30, 2024 |  | December 31, 2023
Currency |  |  |
Euros | 475 |  |  | 400 |
Singapore Dollars | 751 |  |  | 751 |
Canadian Dollars | 253 |  |  | — |
The aggregate notional amount of the fixed-to-fixed cross-currency rate swap contracts were as follows:
(In millions) | June 30, 2024 |  | December 31, 2023
Currency |  |  |
British Pounds | 525 |  |  | 525 |
Euros | 157 |  |  | 157 |
Schedule of net investment hedges in accumulated other comprehensive income (loss) | Foreign currency transaction gains (losses), net of income tax, related to net investment hedges that were recorded as foreign currency translation within other comprehensive income (loss) in the consolidated statements of comprehensive income were as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(In millions) | 2024 |  | 2023 |  | 2024 |  | 2023
Cross-currency rate swap contracts | $ | — |  |  | $ | (5) |  |  | $ | 16 |  |  | $ | (7) |
Foreign currency-denominated debt | 24 |  |  | (50) |  |  | 101 |  |  | (114) |

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- Definition Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in net investment hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4CCC -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4CCC + Details
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- Definition Tabular disclosure of the notional amounts of outstanding derivative positions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A + Details
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