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Derivatives and Net Investment Hedge (Tables) | 3 Months Ended
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Mar. 31, 2024
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, 2024 and December 31, 2023:
|  | March 31, 2024 |
Currency Hedged (Buy/Sell) |  | Net Notional Value |  |  | Fair Value Asset (Liability) |
U.S. dollar/Japanese yen |  | $ | 62 |  |  | $ | 3 |
U.S. dollar/South Korean won |  |  | 65 |  |  |  | 1 |
U.S. dollar/Taiwan dollar |  |  | 20 |  |  |  | 1 |
U.S. dollar/Singapore dollar |  |  | 1 |  |  |  | — |
U.S. dollar/Chinese renminbi |  |  | 5 |  |  |  | — |
Euro/U.S. dollar |  |  | 77 |  |  |  | — |
Euro/Chinese renminbi |  |  | 2 |  |  |  | — |
Euro/Canadian dollar |  |  | 1 |  |  |  | — |
U.S. dollar/Mexican peso |  |  | 4 |  |  |  | — |
U.K. pound sterling/U.S. dollar |  |  | 24 |  |  |  | — |
Canadian dollar/U.S. dollar |  |  | 1 |  |  |  | — |
Total |  | $ | 262 |  |  | $ | 5 |
|  | December 31, 2023 |
Currency Hedged (Buy/Sell) |  | Net Notional Value |  |  | Fair Value (Liability) Asset |
U.S. dollar/Japanese yen |  | $ | 65 |  |  | $ | — |
U.S. dollar/South Korean won |  |  | 70 |  |  |  | (3 | )
U.S. dollar/Taiwan dollar |  |  | 22 |  |  |  | — |
U.S. dollar/Singapore dollar |  |  | 1 |  |  |  | — |
U.S. dollar/Chinese renminbi |  |  | 8 |  |  |  | — |
Euro/U.S. dollar |  |  | 71 |  |  |  | — |
Euro/Chinese renminbi |  |  | 4 |  |  |  | — |
Euro/Canadian dollar |  |  | 1 |  |  |  | — |
U.S. dollar/Mexican peso |  |  | 5 |  |  |  | — |
U.K. pound sterling/U.S. dollar |  |  | 19 |  |  |  | — |
Total |  | $ | 266 |  |  | $ | (3 | )
Summary of Net Gains (Losses) on Derivatives Designated as Cash Flow Hedging Instruments | The following table summarizes the net gains (losses) on derivatives designated as cash flow hedging instruments:
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Foreign exchange forward contracts and interest rate hedges: |  |  |  |  |  |
Net gains (losses) recognized in accumulated OCI |  | $ | 32 |  |  | $ | (15 | )
Net gains (losses) reclassified from accumulated OCI into income |  | $ | — |  |  | $ | 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, 2024 and December 31, 2023:
|  |  |  |  |  |  |  |  |  |  |  |  | March 31, 2024 |  |  | December 31, 2023 |
Effective Date |  | Maturity |  | Fixed Rate |  |  | Notional Amount at Effective Date |  |  | Notional Amount at March 31, 2024 |  |  | Fair Value Asset (Liability) |  |  | Fair Value Asset (Liability) |
Interest Rate Swaps |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2023 |  | February 28, 2025 |  |  | 0.391 | % |  | $ | 200 |  |  | $ | 200 |  |  | $ | 8 |  |  | $ | 9 |
June 30, 2023 |  | February 28, 2025 |  |  | 0.543 | % |  |  | 300 |  |  |  | 300 |  |  |  | 12 |  |  |  | 14 |
September 30, 2022 |  | September 30, 2026 |  |  | 3.156 | % |  |  | 350 |  |  |  | 350 |  |  |  | 10 |  |  |  | 5 |
January 2, 2024 |  | January 31, 2028 |  |  | 2.841 | % |  |  | 250 |  |  |  | 250 |  |  |  | 11 |  |  |  | 7 |
September 30, 2022 |  | September 30, 2027 |  |  | 3.198 | % |  |  | 350 |  |  |  | 350 |  |  |  | 10 |  |  |  | 5 |
January 2, 2024 |  | January 31, 2029 |  |  | 2.986 | % |  |  | 250 |  |  |  | 250 |  |  |  | 10 |  |  |  | 6 |
September 30, 2022 |  | September 30, 2026 |  |  | 3.358 | % |  |  | 600 |  |  |  | 400 |  |  |  | 9 |  |  |  | 5 |
December 28, 2023 |  | December 31, 2027 |  |  | 4.550 | % |  |  | 500 |  |  |  | 500 |  |  |  | (3 | ) |  |  | (10 | )
|  |  |  |  |  |  |  | 2,800 |  |  |  | 2,600 |  |  |  | 67 |  |  |  | 41 |
Interest Rate Caps |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
June 30, 2023 |  | January 31, 2024 |  |  | 0.805 | % |  |  | 350 |  |  |  | — |  |  |  | — |  |  |  | 1 |
June 30, 2023 |  | January 31, 2024 |  |  | 0.805 | % |  |  | 350 |  |  |  | — |  |  |  | — |  |  |  | 2 |
|  |  |  |  |  |  |  | 700 |  |  |  | — |  |  |  | — |  |  |  | 3 |
|  |  |  | Total |  |  | $ | 3,500 |  |  | $ | 2,600 |  |  | $ | 67 |  |  | $ | 44 |
Summary of Net Losses on Derivatives Not Designated as Hedging Instruments | The following table summarizes the net losses on derivatives not designated as hedging instruments, consisting of balance sheet hedges and interest rate caps:
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Net gains (losses) recognized in income |  | $ | (4 | ) |  | $ | (10 | )

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