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v3.23.1

Note 11 - Fair Value Measurements and Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2023
Notes Tables |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
|  |  |  |  |  |  | Fair Value |
Category |  | Balance Sheet Location |  | Fair Value Level |  |  | March 31, 2023 |  |  | December 31, 2022 |
Currency forward contracts |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  | Accounts receivable - Other |  | 2 |  |  | $ | 40 |  |  | $ | 26 |
Cash flow hedges |  | Other accrued liabilities |  | 2 |  |  |  | 4 |  |  |  | 4 |
Undesignated |  | Accounts receivable - Other |  | 2 |  |  |  | 3 |  |  |  | 2 |
Undesignated |  | Other accrued liabilities |  | 2 |  |  |  | 5 |  |  |  | 7 |
Currency swaps |  |  |  |  |  |  |  |  |  |  |  |  |
Cash flow hedges |  | Other noncurrent assets |  | 2 |  |  |  | 15 |  |  |  | 17 |
Undesignated |  | Other noncurrent liabilities |  | 2 |  |  |  | 11 |  |  |  | 11 |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block] |
|  |  |  |  |  | March 31, 2023 |  |  | December 31, 2022 |
|  | Fair Value Level |  | Carrying Value |  |  | Fair Value |  |  | Carrying Value |  |  | Fair Value |
Long-term debt |  |  | 2 |  |  | $ | 2,310 |  |  | $ | 2,038 |  |  | $ | 2,304 |  |  | $ | 2,010 |
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] |
Underlying Financial Instrument |  |  | Derivative Financial Instrument |
Description |  | Type |  | Face Amount |  |  | Rate |  |  | Notional Amount |  |  | Traded Amount |  |  | Inflow Rate |  |  | Outflow Rate |
April 2025 Notes |  | Payable |  | $ | 400 |  |  |  | 5.75 | % |  | $ | 300 |  |  | € | 278 |  |  |  | 5.75 | % |  |  | 3.85 | %
Luxembourg Intercompany Notes |  | Receivable |  | € | 278 |  |  |  | 3.70 | % |  | € | 278 |  |  | $ | 300 |  |  |  | 5.38 | % |  |  | 3.70 | %
Undesignated 2026 Swap |  |  |  |  |  |  |  |  |  |  |  | $ | 188 |  |  | € | 169 |  |  |  | 6.50 | % |  |  | 5.14 | %
Undesignated Offset 2026 Swap |  |  |  |  |  |  |  |  |  |  |  | € | 169 |  |  | $ | 188 |  |  |  | 3.13 | % |  |  | 6.50 | %
Schedule of Derivative Instruments [Table Text Block] |
|  |  |  | Notional Amount (U.S. Dollar Equivalent) |  |  |
Functional Currency |  | Traded Currency |  | Designated |  |  | Undesignated |  |  | Total |  |  | Maturity
U.S. dollar |  | Mexican peso, Thai baht |  | $ | 168 |  |  | $ | 12 |  |  | $ | 180 |  |  | Mar-2024
Euro |  | U.S. dollar, Australian dollar, Canadian dollar, Swiss franc, Chinese renminbi, British pound, Hungarian forint, Indian rupee, Japanese yen, Mexican peso, Norwegian krone, New Zealand dollar, Swedish krona, Singapore dollar, South African rand |  |  | 174 |  |  |  | 77 |  |  |  | 251 |  |  | Sep-2027
British pound |  | U.S. dollar, euro |  |  | 2 |  |  |  | 5 |  |  |  | 7 |  |  | Sep-2023
South African rand |  | U.S. dollar, euro, Thai baht |  |  |  |  |  |  | 11 |  |  |  | 11 |  |  | May-2023
Canadian dollar |  | U.S. dollar |  |  |  |  |  |  | 8 |  |  |  | 8 |  |  | Apr-2023
Brazilian real |  | U.S. dollar, euro |  |  | 72 |  |  |  | 17 |  |  |  | 89 |  |  | Mar-2024
Indian rupee |  | U.S. dollar, euro, British pound |  |  |  |  |  |  | 137 |  |  |  | 137 |  |  | Jun-2024
Chinese renminbi |  | U.S. dollar, euro, Canadian dollar |  |  |  |  |  |  | 13 |  |  |  | 13 |  |  | Apr-2023
Australian dollar |  | U.S. dollar, euro |  |  |  |  |  |  | 1 |  |  |  | 1 |  |  | Apr-2023
Total forward contracts |  |  |  |  | 416 |  |  |  | 281 |  |  |  | 697 |  |  |
U.S. dollar |  | euro |  |  | 301 |  |  |  | 183 |  |  |  | 484 |  |  | Nov-2027
Euro |  | U.S. dollar |  |  | 300 |  |  |  | 188 |  |  |  | 488 |  |  | Jun-2026
Total currency swaps |  |  |  |  | 601 |  |  |  | 371 |  |  |  | 972 |  |  |
Total currency derivatives |  |  |  | $ | 1,017 |  |  | $ | 652 |  |  | $ | 1,669 |  |  |
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
|  | Deferred Gain (Loss) in AOCI |
|  | March 31, 2023 |  |  | December 31, 2022 |  |  | Gain (loss) expected to be reclassified into income in one year or less |
Forward Contracts |  | $ | 24 |  |  | $ | 11 |  |  | $ | 24 |
Cross-Currency Swaps |  |  | 14 |  |  |  | 11 |  |  |  |  |
Total |  | $ | 38 |  |  | $ | 22 |  |  | $ | 24 |
Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] |
|  | Three Months Ended |
|  | March 31, |
Derivatives Designated as Cash Flow Hedges |  | 2023 |  |  | 2022 |
Total amounts of income and expense line items presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded |  |  |  |  |  |  |  |
Net sales |  | $ | 2,644 |  |  | $ | 2,480 |
Cost of sales |  |  | 2,415 |  |  |  | 2,283 |
Other income (expense), net |  |  | 5 |  |  |  | 2 |
(Gain) or loss on cash flow hedging relationships |  |  |  |  |  |  |  |
Foreign currency forwards |  |  |  |  |  |  |  |
Amount of (gain) loss reclassified from AOCI into income |  |  |  |  |  |  |  |
Cost of sales |  |  | (5 | ) |  |  | (1 | )
Other income (expense), net |  |  | (2 | ) |  |  | (2 | )
Cross-currency swaps |  |  |  |  |  |  |  |
Amount of (gain) loss reclassified from AOCI into income |  |  |  |  |  |  |  |
Other income (expense), net |  |  | 7 |  |  |  | (19 | )
Derivatives Not Designated as Hedging Instruments [Table Text Block] |
|  | Three Months Ended |
|  | March 31, |
Derivatives Not Designated as Hedging Instruments |  | 2023 |  |  | 2022 |
Gain or (loss) recognized in income |  |  |  |  |  |  |  |
Foreign currency forward contracts |  |  |  |  |  |  |  |
Cost of sales |  | $ | (1 | ) |  | $ | — |
Other income (expense), net |  | $ | 3 |  |  | $ | (6 | )

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