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Derivatives (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Primary Net Hedging Positions and Fair Values of Foreign Exchange Forward Contracts Outstanding

The following tables summarize the primary net hedging positions and fair values of foreign exchange forward contracts outstanding as of March 31, 2023 and December 31, 2022:

		March 31, 2023
Currency Hedged (Buy/Sell)		Net Notional Value				Fair Value Asset (Liability)
U.S. dollar/Japanese yen		$	21			$	1
U.S. dollar/South Korean won			49				(1	)
U.S. dollar/Taiwan dollar			34				—
U.S. dollar/U.K. pound sterling			2				—
Euro/U.S. dollar			44				—
Euro/Chinese renminbi			19				—
Total		$	169			$	—

		December 31, 2022
Currency Hedged (Buy/Sell)		Net Notional Value				Fair Value Asset (Liability)
U.S. dollar/Japanese yen		$	57			$	—
U.S. dollar/South Korean won			75				(4	)
U.S. dollar/Taiwan dollar			33				1
U.S. dollar/U.K. pound sterling			7				—
U.S. dollar/Singapore dollar			1				—
U.S. dollar/Chinese renminbi			9				—
Euro/U.S. dollar			485				1
Euro/Chinese renminbi			31				1
U.K. pound sterling/euro			4				—
Total		$	702			$	(1	)

Summary of Net (Losses) Gains on Derivatives Designated as Cash Flow Hedging Instruments

The following table summarizes the net (losses) gains on derivatives designated as cash flow hedging instruments:

		Three Months Ended March 31,
		2023				2022
Foreign exchange forward contracts:
Net (losses) gains recognized in accumulated OCI		$	(15	)		$	18
Net (losses) gains reclassified from accumulated OCI into income		$	(1	)		$	1

Summary of The Terms And Fair Values of Interest Rate Swaps and Interest Rate Caps

The following table summarizes the terms and fair values of interest rate swaps and interest rate caps outstanding at March 31, 2023 and December 31, 2022:

																March 31, 2023				December 31, 2022
Effective Date		Maturity		Fixed Rate				Notional Amount at Effective Date				Notional Amount at March 31, 2023				Fair Value Asset				Fair Value Asset
Interest Rate Swaps
April 5, 2019		March 31, 2023			2.309	%		$	300			$	—			$	—			$	1
October 26, 2021		February 28, 2025			0.485	%			200				200				14				16
March 31, 2022		February 28, 2025			0.623	%			100				300				20				22
September 30, 2022		September 30, 2026			3.156	%			350				350				4				8
January 2, 2024		January 31, 2028			2.841	%			250				—				2				5
September 30, 2022		September 30, 2027			3.198	%			350				350				2				8
January 2, 2024		January 31, 2029			2.986	%			250				—				—				4
September 30, 2022		September 30, 2026			3.358	%			600				600				4				10
									2,400				1,800				46				74
Interest Rate Caps
March 31, 2020		January 31, 2024			1.000	%			350				350				12				15
March 31, 2020		January 31, 2024			1.000	%			350				350				12				15
									700				700				24				30
				Total				$	3,100			$	2,500			$	70			$	104

Summary of Gains on Derivatives Not Designated as Hedging Instruments

The following table summarizes the gains on derivatives not designated as hedging instruments, consisting of balance sheet hedges and interest rate caps:

		Three Months Ended March 31,
		2023				2022
Net gains recognized in income		$	10			$	6

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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.

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Tabular disclosure for fair value hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

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Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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-Name Accounting Standards Codification
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