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Derivative and Other Financial Instruments - Narrative (Details) € in Millions, $ in Millions | 3 Months Ended |  |
--- | --- | --- | ---
Mar. 31, 2024 USD ($) | Mar. 31, 2023 USD ($) | Mar. 31, 2024 EUR (€) | Dec. 31, 2023 USD ($)
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Objective for using derivative instruments | The Company’s objective in managing exposure to market and interest rate risk is to limit the impact on earnings and cash flow. |  |  |
Loss expected to be reclassified to earnings | $ (5) |  |  |
Loss, net of tax, expected to be reclassified to earnings | (4) |  |  |
Reclassification of anticipated transactions that were no longer considered probable | 0 | $ 0 |  |
Other comprehensive income (loss), net investment hedge, gain (loss), before reclassification and tax | 41 | (16) |  |
Gain (loss) on net investment hedge settlements, net of tax | 34 | (14) |  |
Reduction in interest expense | 6 | 6 |  |
Cumulative amount of fair value hedging adjustment included in the carrying about of the hedged assets | (1) |  |  | $ 2
Hedged liability, fair value hedge, cumulative increase (decrease) | (1) |  |  | 2
Accumulated Other Comprehensive Gain |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain on net investment hedge settlements | 90 |  |  | 49
Gain on net investment hedge settlements, net of tax | 102 |  |  | $ 68
Derivatives Designated as Net Investment Hedges |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Carrying amount of hedged net investment | 1,758 |  | € 1,629 |
Foreign Exchange |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Gain (loss) from foreign exchange contracts designated as fair value hedges (less than) | 4 | $ (5) |  |
Cross Currency Interest Rate Contract |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, notional amount | $ 875 |  |  |
Minimum |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, remaining maturity range (in months) | 1 month |  | 1 month |
Maximum |  |  |  |
Derivative Instruments, Gain (Loss) [Line Items] |  |  |  |
Derivative, remaining maturity range (in months) | 33 months |  | 33 months |

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- Definition Amount of gain (loss) from the increase (decrease) in fair value of foreign currency derivatives and nonderivative instruments designated as fair value hedging instruments which were recognized in earnings, net of offsets by the gain (loss) on the hedged item to the extent that the fair value hedge was determined to be effective. + References Reference 1: 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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
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- Definition Description of the reasons for holding or issuing derivative instruments and nonderivative hedging instruments. Includes discussion of the objectives for holding or issuing derivative instruments, the context needed to understand those objectives, and the strategies for achieving those objectives. The description generally distinguishes between derivative and nonderivative instruments by the types of hedging relationships and between those instruments used for risk management purposes and those used for other purposes. Information about those instruments is disclosed in the context of each instrument's primary underlying risk exposure (for example, interest rate, credit, foreign exchange rate, interest rate and foreign exchange rate, or overall price). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-5 + Details
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