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Derivatives and Net Investment Hedge (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Notional Values of Foreign Exchange Forward Contracts Outstanding

The following table summarizes the net notional values of foreign exchange forward contracts outstanding as of December 31, 2024 and December 31, 2023:

		Years Ended December 31,
		2024				2023
Derivatives designated as hedging instruments:
Foreign exchange forward contracts-cash flow hedges		$	74			$	178
Derivatives not designated as hedging instruments:
Foreign exchange forward contracts-balance sheet hedges		$	154			$	155

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

		Years Ended December 31,
		2024				2023				2022
Foreign exchange forward contracts-cash flow hedges:
Net (losses) gains recognized in OCI, net of tax		$	6			$	1			$	(4	)
Net gains (losses) reclassified from accumulated OCI into cost of revenues		$	6			$	7			$	18
Interest rate hedges:
Net (losses) gains recognized in OCI, net of tax		$	(7	)		$	(25	)		$	54
Net gains (losses) reclassified from accumulated OCI into interest expense		$	61			$	45			$	3

Summary of Net Gains (Losses) on Derivatives Not Designated as Hedging Instruments

The following table summarizes the net gains (losses) on derivatives not designated as hedging instruments:

		Years Ended December 31,
		2024				2023				2022
Net (losses) gains recognized in other (income) expense, net		$	(2	)		$	(32	)		$	(8	)

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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.

+ References

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-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4C
-Subparagraph (c)
-Publisher FASB
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Tabular disclosure of the notional amounts of outstanding derivative positions.

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
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Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument.

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (e)
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