Derivative instruments and hedging activities (Tables)

3 Months Ended

Mar. 31, 2023

The following table summarizes the notional amounts for hedged items, when transactions are designated as hedge accounting:


	March 31,		December 31,
	2023		2022

	(U.S. $ in millions)
Cross-currency swap - cash flow hedge (1)	$	169	$	—

The following table summarizes the classification and fair values

derivative instruments:


	Fair value
	Designated as hedging instruments				Not designated as hedging instruments
	March 31, 2023		December 31, 2022		March 31, 2023			December 31, 2022

Reported under	(U.S. $ in millions)				(U.S. $ in millions)
Asset derivatives:
Other current assets:
Option and forward contracts	$	—	$	—	$	45		$	29
Other non-current assets:
Cross-currency swap-cash flow hedge (1)		§		—		—			—
Liability derivatives:
Other current liabilities:
Option and forward contracts		—		—		(63	)		(101	)

§	Represents an amount less than $0.5 million.

The table below provides information regarding the location and amount of

pre-tax

(gains) losses from derivatives not designated as hedging instruments:


	Financial expenses, net						Net revenues
	Three months ended,						Three months ended,
	March 31, 2023			March 31, 2022			March 31, 2023			March 31, 2022

Reported under	(U.S. $ in millions)
Line items in which effects of hedges are recorded	$	260		$	258		$	(3,661	)	$	(3,661	)
Option and forward contracts (2)		(13	)		(5	)		—			—
Option and forward contracts economic hedge (3)		—			—			6			(19	)

The table below provides information regarding the location and amount of

pre-tax

(gains) losses from derivatives designated in cash flow hedging relationships:


	Financial expenses, net				Other comprehensive income (loss)
	Three months ended,				Three months ended,
	March 31, 2023		March 31, 2022		March 31, 2023			March 31, 2022

Reported under	(U.S. $ in millions)
Line items in which effects of hedges are recorded	$	260	$	258	$	127		$	(57	)
Cross-currency swaps - cash flow hedge (1)		1		—		(2	)		—