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Derivative Financial Instruments (Tables)

3 Months Ended

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