Derivatives and Net Investment Hedge (Tables)

12 Months Ended

Dec. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Primary Net Hedging Positions and Fair Values of Foreign Exchange Forward Contracts Outstanding

The following tables provide a summary of the primary net hedging positions and fair values of foreign exchange forward contracts outstanding as of December 31, 2023 and 2022:

	December 31, 2023
Currency Hedged (Buy/Sell)	Net Notional Value		Fair Value Liability
U.S. dollar/Japanese yen	$	65	$	—
U.S. dollar/South Korean won		70		(3	)
U.S. dollar/Taiwan dollar		22		—
U.S. dollar/Singapore dollar		1		—
U.S. dollar/Chinese renminbi		8		—
Euro/U.S. dollar		71		—
Euro/Chinese renminbi		4		—
Euro/Canadian dollar		1		—
U.S. dollar/Mexican peso		5		—
U.K. pound sterling/U.S. dollar		19		—
Total	$	266	$	(3	)

	December 31, 2022
Currency Hedged (Buy/Sell)	Net Notional Value		Fair Value (Liability) Asset
U.S. dollar/Japanese yen	$	57	$	—
U.S. dollar/South Korean won		75		(4	)
U.S. dollar/Taiwan dollar		33		1
U.S. dollar/U.K. pound sterling		7		—
U.S. dollar/Singapore dollar		1		—
U.S. dollar/Chinese renminbi		9		—
Euro/U.S. dollar		485		1
Euro/Chinese renminbi		31		1
U.K. pound sterling/Euro		4		—
Total	$	702	$	(1	)

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

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

	Years Ended December 31,
Forward exchange contracts:	2023			2022		2021
Net (losses) gains recognized in OCI, net of tax	$	(24	)	$	50	$	20
Net gains (losses) reclassified from accumulated OCI into income	$	7		$	18	$	(2	)

Summary of Various Interest Rate Hedges

The table below summarizes interest rate swaps and interest rate caps outstanding at December 31, 2023 and December 31, 2022:

										Years Ended December 31,
										2023			2022
	Effective Date	Maturity	Fixed Rate			Notional Amount at Effective Date		Notional Amount at December 31, 2023		Fair Value Asset (Liability)			Fair Value Asset
	Interest Rate Swaps
	April 5, 2019	March 31, 2023		2.309	%	$	300	$	—	$	—		$	1
	June 30, 2023	February 28, 2025		0.391	%		200		200		9			16
	June 30, 2023	February 28, 2025		0.543	%		300		300		14			22
	September 30, 2022	September 30, 2026		3.156	%		350		350		5			8
	January 2, 2024	January 31, 2028		2.841	%		250		—		7			5
	September 30, 2022	September 30, 2027		3.198	%		350		350		5			8
	January 2, 2024	January 31, 2029		2.986	%		250		—		6			4
	September 30, 2022	September 30, 2026		3.358	%		600		600		5			10
	December 28, 2023	December 31, 2027		4.550	%		500		500		(10	)		—
							3,100		2,300		41			74
Interest Rate Caps
	June 30, 2023	January 31, 2024		0.805	%		350		350		1			15
	June 30, 2023	January 31, 2024		0.805	%		350		350		2			15
							700		700		3			30
						$	3,800	$	3,000	$	44		$	104

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

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

	Years Ended December 31,
	2023			2022			2021
Net (losses) gains recognized in income	$	(32	)	$	(8	)	$	5