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Derivative Financial Instruments (Tables) | 6 Months Ended
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Jun. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Consolidated Balance Sheets and Pre-Tax Gain (Loss) in Accumulated Other Comprehensive Loss | The following tables summarizes the fair value and presentation of derivative instruments in the Unaudited Consolidated Balance Sheets as well as the changes in fair value recorded in accumulated other comprehensive loss:
| Fair Value of Derivative Assets
(in millions) | Financial Statement Line Item |  | June 29, 2024 |  | December 31, 2023
Derivatives designated as hedging instruments |  |  |  |
Interest rate derivatives | Other current assets |  | $ | 19 |  |  | $ | 20 |
Interest rate derivatives | Other assets |  | 8 |  |  | 10 |
Total derivative assets designated as hedging instruments |  | $ | 27 |  |  | $ | 30 |
| Fair Value of Derivative Liabilities
(in millions) | Financial Statement Line Item |  | June 29, 2024 |  | December 31, 2023
Derivatives designated as hedging instruments: |  |  |  |
Interest rate derivatives | Other liabilities |  | $ | 6 |  |  | $ | — |
Total derivative liabilities designated as hedging instruments |  | $ | 6 |  |  | $ | — |
Unrealized gain | Accumulated other comprehensive loss |  | $ | 20 |  |  | $ | 25 |
Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges | The following table summarizes the effect of derivative instruments designated as cash flow hedges in other comprehensive income and the Unaudited Consolidated Statements of Operations:
| Three Months Ended |  | Six Months Ended
(in millions) | June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
Gains recorded in accumulated other comprehensive loss, beginning of period | $ | 24 |  |  | $ | 35 |  |  | $ | 25 |  |  | $ | 42 |
Current period gain (loss) recognized in/reclassified from other comprehensive income | (4) |  |  | 13 |  |  | (3) |  |  | 7 |
Gains reclassified from accumulated other comprehensive loss to net income | — |  |  | (8) |  |  | (2) |  |  | (9) |
Gains recorded in accumulated other comprehensive loss, end of period | $ | 20 |  |  | $ | 40 |  |  | $ | 20 |  |  | $ | 40 |

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- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4C -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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