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Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Outstanding Foreign Currency Forward Contracts

Forward currency contracts consist of (in millions):

Currency Denomination

Currency

December 31, 2022

December 31, 2021

South Korean Won

KRW

65,980

KRW

17,600

Norwegian Krone

NOK

2,741

NOK

2,430

U.S. Dollar

USD

655

USD

415

Japanese Yen

JPY

460

JPY

476

Brazilian Real

BRL

291

BRL

—

Mexican Peso

MXN

160

MXN

637

South African Rand

ZAR

149

ZAR

124

Euro

EUR

125

EUR

106

Singapore Dollar

SGD

27

SGD

36

British Pound Sterling

GBP

16

GBP

14

Danish Krone

DKK

13

DKK

7

Canadian Dollar

CAD

2

CAD

—

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):


		Fair Values of Derivative Instruments (In millions)
		Asset Derivatives										Liability Derivatives
				Fair Value										Fair Value
		Balance Sheet		December 31,								Balance Sheet		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		$	3			$	2
Foreign exchange contracts		Other Assets			—				—			Other Liabilities			1				—
Total derivatives designated as hedging instruments under ASC Topic 815				$	3			$	11					$	4			$	2
Derivatives not designated as hedging instruments under ASC Topic 815
Foreign exchange contracts		Prepaid and other current assets		$	5			$	7			Accrued liabilities		$	10			$	6
Total derivatives				$	8			$	18					$	14			$	8