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Derivative instruments and hedging activities (Tables)

12 Months Ended

Dec. 31, 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:

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

Summary of Classification and Fair Values of Derivative Instruments

The following table summarizes the classification and fair values of derivative instruments:

		Fair value
		Designated as hedging instruments								Not designated as hedging instruments
		December 31, 2023				December 31, 2022				December 31, 2023				December 31, 2022
Reported under		(U.S. $ in millions)								(U.S. $ in millions)
Asset derivatives:
Other current assets:
Option and forward contracts		$	—			$	—			$	38			$	29
Other non-current assets:
Cross-currency swaps - cash flow hedge (1)			8				—				—				—
Liability derivatives:
Other current liabilities:
Option and forward contracts		$	—			$	—			$	(39	)		$	(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 fair value or cash flow hedging relationships:

Reported under		Financial expenses, net												Other comprehensive income (loss)
		Year ended December 31,												Year ended December 31,
		2023				2022				2021				2023				2022				2021
		(U.S. $ in millions)
Line items in which effects of hedges are recorded		$	1,057			$	966			$	1,058			$	91			$	(270	)		$	(391	)
Cross-currency swaps - cash flow hedge (1)			(11	)			—				—				1				—				—

Summary of Pre-tax (Gains) Losses From Derivatives Not Designated in 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:

Reported under		Financial expenses, net												Net revenues
		Year ended December 31,												Year ended December 31,
		2023				2022				2021				2023				2022				2021
		(U.S. $ in millions)
Line items in which effects of hedges are recorded		$	1,057			$	966			$	1,058			$	(15,846	)		$	(14,925	)		$	(15,878	)
Option and forward contracts (2)			(54	)			(12	)			(45	)			—				—				—
Option and forward contracts economic hedge (3)			—				—				—				2				(11	)			(31	)

Summary of Sold Receivables Outstanding Balance Net of DPP Asset under Outstanding Securitization Program

The following table summarizes the change in the sold receivables outstanding balance, net of DPP, under the outstanding securitization program:

		As of and for the year ended December 31,
		2023				2022
		(U.S. $ in millions)
Sold receivables at the beginning of the year		$	636			$	685
Proceeds from sale of receivables			4,391				4,653
Cash collections (remitted to the owner of the receivables)			(4,365	)			(4,665	)
Effect of currency exchange rate changes			24				(37	)
Sold receivables at the end of the year		$	686			$	636

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