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Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding Foreign Currency Forward Contracts

Forward currency contracts consist of (in millions):

		Currency Denomination
		September 30,					December 31,
Foreign Currency		2022					2021
South Korean Won		KRW		44,179			KRW		17,600
Norwegian Krone		NOK		2,767			NOK		2,430
U.S. Dollar		USD		540			USD		415
Japanese Yen		JPY		492			JPY		476
Mexican Peso		MXN		409			MXN		637
Brazilian Real		BRL		291			BRL		—
Euro		EUR		134			EUR		106
South African Rand		ZAR		115			ZAR		124
Canadian Dollar		CAD		102			CAD		—
Singapore Dollar		SGD		40			SGD		36
British Pound Sterling		GBP		14			GBP		14
Danish Krone		DKK		6			DKK		7
Russian Ruble		RUB		—			RUB		1,128

Derivative Instruments and their Balance Sheet Classifications

The Company has the following fair values of its derivative instruments and their balance sheet classifications (in millions):

		Asset Derivatives										Liability Derivatives
				Fair Value										Fair Value
		Balance Sheet		September 30,				December 31,				Balance Sheet		September 30,				December 31,
		Location		2022				2021				Location		2022				2021
Derivatives designated as hedging instruments    under ASC Topic 815
Foreign exchange contracts		Prepaid and other current assets		$	3			$	11			Accrued liabilities		$	28			$	2
Foreign exchange contracts		Other Assets			—				—			Other liabilities			5				—
Total derivatives designated as hedging instruments    under ASC Topic 815				$	3			$	11					$	33			$	2
Derivatives not designated as hedging instruments    under ASC Topic 815
Foreign exchange contracts		Prepaid and other current assets		$	16			$	7			Accrued liabilities		$	25			$	6
Total derivatives				$	19			$	18					$	58			$	8

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Outstanding foreign currency forward contracts.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

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