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Derivative instruments and hedging activities (Tables)

9 Months Ended

Sep. 30, 2023

Summary of Notional Amounts for Hedged Items

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

 

		September 30,				December 31,
		2023				2022
		(U.S. $ in millions)
Cross-currency swap - cash flow hedge (1)		$	169			$	—

Summary of Classification and Fair Values of Derivative Instruments

		Fair value
		Designated as hedging instruments								Not designated as hedging instruments
		September 30, 2023				December 31, 2022				September 30, 2023				December 31, 2022
Reported under		(U.S. $ in millions)								(U.S. $ in millions)
Asset derivatives:
Other current assets:
Option and forward contracts		$	—			$	—			$	44			$	29
Other non-current assets:
Cross-currency swap-cash flow hedge (1)			14				—				—				—
Conversion option			—				—				15				—
Liability derivatives:
Other current liabilities:
Option and forward contracts			—				—				(40	)			(101	)

Summary Of Pre-tax (gains) losses from Derivatives Designated in Cash Flow Hedging Relationships

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,
		September 30, 2023				September 30, 2022				September 30, 2023				September 30, 2022
Reported under		(U.S. $ in millions)
Line items in which effects of hedges are recorded		$	280			$	252			$	(249	)		$	(395	)
Cross-currency swaps—cash flow hedge (1)			(7	)			—				1				—

		Financial expenses, net								Other comprehensive income (loss)
		Nine months ended,								Nine months ended,
		September 30, 2023				September 30, 2022				September 30, 2023				September 30, 2022
Reported under		(U.S. $ in millions)
Line items in which effects of hedges are recorded		$	808			$	721			$	(156	)		$	(663	)
Cross-currency swaps - cash flow hedge (1)			(22	)			—				(4	)			—

Derivatives Not Designated as Hedging Instruments

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,
		September 30, 2023				September 30, 2022				September 30, 2023				September 30, 2022
Reported under		(U.S. $ in millions)
Line items in which effects of hedges are recorded		$	280			$	252			$	(3,850	)		$	(3,595	)
Option and forward contracts (2)			4				(6	)			—				—
Option and forward contracts economic hedge (3)			—				—				(22	)			(34	)

		Financial expenses, net								Net revenues
		Nine months ended,								Nine months ended,
		September 30, 2023				September 30, 2022				September 30, 2023				September 30, 2022
Reported under		(U.S. $ in millions)
Line items in which effects of hedges are recorded		$	808			$	721			$	(11,389	)		$	(11,041	)
Option and forward contracts (2)			(46	)			(48	)			—				—
Option and forward contracts economic hedge (3)			—				—				(20	)			(69	)

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- Definition

Disclosure In Tabular Form Of Notional Amount Of Derivatives Designated As Hedging Instruments

+ References

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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
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B

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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C

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-Name Accounting Standards Codification
-Section 50
-Paragraph 4CC
-SubTopic 10
-Topic 815
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-4CC

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