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Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Assets and Liabilities At Fair Value

The following table sets forth the fair value of the Company’s derivative assets and liabilities at March 31, 2024 and December 31, 2023.


				Fair Value Using Level 2 Inputs
		Balance Sheet Location		March 31, 2024				December 31, 2023
Asset derivatives:
Foreign currency forward contracts not designated as a hedging instrument		Accounts and notes receivable, net (Note 7)		$	—			$	1
Foreign currency forward contracts designated as a cash flow hedge		Accounts and notes receivable, net (Note 7)			1				1
Total asset derivatives				$	1			$	2

Liability derivatives:
Foreign currency forward contracts not designated as a hedging instrument		Other accrued liabilities (Note 13)		$	—			$	1
Foreign currency forward contracts designated as a cash flow hedge		Other accrued liabilities (Note 13)			—				3
Interest rate swaps designated as a cash flow hedge		Other accrued liabilities (Note 13)			3				7
Total liability derivatives				$	3			$	11

Schedule of Pre-tax Charge Fair Value of Financial Instruments

The following table sets forth the pre-tax changes in fair value of the Company’s financial instruments for the three months ended March 31, 2024 and 2023.


		Gain (Loss) Recognized In
														Accumulated
														Other
		Cost of				Interest				Other Income				Comprehensive
Three Months Ended March 31,		Goods Sold				Expense, Net				(Expense), Net				Loss
2024
Foreign currency forward contracts not designated as a hedging instrument		$	—			$	—			$	(1	)		$	—
Foreign currency forward contracts designated as a cash flow hedge			—				—				—				4
Interest rate swaps designated as a cash flow hedge			—				—				—				4
Euro-denominated debt designated as a net investment hedge			—				—				—				14

2023
Foreign currency forward contracts not designated as a hedging instrument		$	—			$	—			$	(5	)		$	—
Foreign currency forward contracts designated as a cash flow hedge			6				—				—				(1	)
Interest rate swaps designated as a cash flow hedge			—				4				—				—
Euro-denominated debt designated as a net investment hedge			—				—				—				(14	)