Derivatives (Tables)

3 Months Ended

Mar. 31, 2022

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Summary of Primary Net Hedging Positions and Corresponding Fair Values

The following tables provide a summary of the primary net hedging positions and corresponding fair values held as of March 31, 2022 and December 31, 2021:

	March 31, 2022
Currency Hedged (Buy/Sell)	Gross Notional Value		Fair Value(1)
U.S. dollar/Japanese yen	$	34	$	3
U.S. dollar/South Korean won		72		2
U.S. dollar/Euro		11		1
U.S. dollar/U.K. pound sterling		7		—
U.S. dollar/Taiwan dollar		31		1
Total	$	155	$	7

	December 31, 2021
Currency Hedged (Buy/Sell)	Gross Notional Value		Fair Value(1)
U.S. dollar/Japanese yen	$	60	$	2
U.S. dollar/South Korean won		108		1
U.S. dollar/Euro		15		—
U.S. dollar/U.K. pound sterling		11		—
U.S. dollar/Taiwan dollar		47		—
Total	$	241	$	3

(1)Represents receivable amount included in other current assets in the condensed consolidated balance sheet.

Summary of Interest Rate Hedges

The table below summarizes interest rate hedges outstanding at December 31, 2021 and March 31, 2022:

								March 31, 2022		March 31, 2022			December 31, 2021
Trade Date	Effective Date	Maturity	Fixed Rate			Notional Amount at Effective Date		Notional Amount		Fair Value Asset (Liability)			Fair Value Asset (Liability)
April 3, 2019	April 5, 2019	March 31, 2023		2.309	%	$	200	$	200	$	(1	)	$	(5	)
October 29, 2020	October 26, 2021	February 28, 2025		0.485	%	$	200	$	200		11			4
October 29, 2020	March 31, 2022	February 28, 2025		0.623	%	$	100	$	100		14			5
								Total		$	24		$	4

Summary of Foreign Currency Option Contracts Purchased to Hedge Conversion

The Company purchased foreign currency option contracts to fix the conversion of EUR 300 into U.S. dollars and the options settled on January 31, 2022, as noted below:

						March 31, 2022		March 31, 2022		December 31, 2021
Trade Date	Effective Date	Maturity	Fixed Rate	Notional Amount in EUR		Notional Amount in U.S. dollars		Fair Value Asset (Liability)		Fair Value Asset (Liability)
October 26, 2021	October 26, 2021	January 31, 2022	1.1615	€	300	$	—	$	—	$	3

Summary of Gains (Losses) on Derivatives Designated as Cash Flow Hedging Instruments

The following table provides a summary of the gains (losses) on derivatives designated as cash flow hedging instruments:

	Three Months Ended March 31,
	2022		2021
Foreign exchange forward contracts:
Net gains recognized in accumulated OCI	$	18	$	11
Net gains (losses) reclassified from accumulated OCI into income	$	1	$	(2	)

Summary of Gains (Losses) on Derivatives Not Designated as Hedging Instruments

The following table provides a summary of the gains (losses) on derivatives not designated as hedging instruments:

	Three Months Ended March 31,
	2022		2021
Foreign exchange forward contracts:
Net gains (losses) recognized in income(1)	$	6	$	(1	)

(1)The Company enters into foreign exchange forward contracts to hedge against changes in the balance sheet for certain subsidiaries to mitigate the risk associated with certain foreign currency transactions in the ordinary course of business. These derivatives are not designated as cash flow hedging instruments and gains or losses from these derivatives are recorded immediately in other (income) expense, net.