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Derivative Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Outstanding Foreign Currency Forward Contracts | Forward currency contracts consist of (in millions):
|  | Currency Denomination |
|  | March 31, |  |  | December 31, |
Foreign Currency |  | 2023 |  |  | 2022 |
South Korean Won |  | KRW |  | 21,765 |  |  | KRW |  | 65,980 |
Norwegian Krone |  | NOK |  | 2,486 |  |  | NOK |  | 2,741 |
U.S. Dollar |  | USD |  | 649 |  |  | USD |  | 655 |
Japanese Yen |  | JPY |  | 460 |  |  | JPY |  | 460 |
Brazilian Real |  | BRL |  | 291 |  |  | BRL |  | 291 |
Euro |  | EUR |  | 107 |  |  | EUR |  | 125 |
South African Rand |  | ZAR |  | 30 |  |  | ZAR |  | 149 |
Singapore Dollar |  | SGD |  | 27 |  |  | SGD |  | 27 |
British Pound Sterling |  | GBP |  | 17 |  |  | GBP |  | 16 |
Danish Krone |  | DKK |  | 15 |  |  | DKK |  | 13 |
Canadian Dollar |  | CAD |  | 2 |  |  | CAD |  | 2 |
Mexican Peso |  | MXN |  | — |  |  | MXN |  | 160 |
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 |  | March 31, |  |  | December 31, |  |  | Balance Sheet |  | March 31, |  |  | December 31, |
|  | Location |  | 2023 |  |  | 2022 |  |  | Location |  | 2023 |  |  | 2022 |
Derivatives designated as hedging instruments under ASC Topic 815 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid and other current assets |  | $ | 2 |  |  | $ | 3 |  |  | Accrued liabilities |  | $ | 14 |  |  | $ | 3 |
Foreign exchange contracts |  | Other Assets |  |  | — |  |  |  | — |  |  | Other liabilities |  |  | 3 |  |  |  | 1 |
Total derivatives designated as hedging instruments under ASC Topic 815 |  |  |  | $ | 2 |  |  | $ | 3 |  |  |  |  | $ | 17 |  |  | $ | 4 |
Derivatives not designated as hedging instruments under ASC Topic 815 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Prepaid and other current assets |  | $ | 3 |  |  | $ | 5 |  |  | Accrued liabilities |  | $ | 9 |  |  | $ | 10 |
Total derivatives |  |  |  | $ | 5 |  |  | $ | 8 |  |  |  |  | $ | 26 |  |  | $ | 14 |

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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 + Details
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