Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

The following table provides a summary of the fair value amounts of our derivative instruments:


Designation of Derivatives	Balance Sheet Location	September 30, 2020		December 31, 2019
Derivatives Designated as Hedging Instruments
Foreign exchange contracts - forwards	Other current assets	$	3	$	1
	Accrued expenses and other current liabilities	(2)		(5)


Interest rate swaps	Other long-term assets	—		1

	Net designated derivative asset (liability)	$	1	$	(3)

Derivatives NOT Designated as Hedging Instruments
Foreign exchange contracts – forwards	Other current assets	$	4	$	1
	Accrued expenses and other current liabilities	(1)		(3)
	Net undesignated derivative asset (liability)	$	3	$	(2)

Summary of Derivatives	Total Derivative assets	$	7	$	3
	Total Derivative liabilities	(3)		(8)
	Net Derivative asset (liability)	$	4	$	(5)

The following table provides a summary of gains (losses) on derivative instruments:


	Three Months Ended September 30,				Nine Months Ended September 30,
Gain (Loss) on Derivative Instruments	2020		2019		2020		2019
Fair Value Hedges - Interest Rate Contracts
Derivative (loss) gain recognized in interest expense	$	—	$	—	$	(1)	$	4
Hedged item gain (loss) recognized in interest expense	—		—		1		(4)

Cash Flow Hedges - Foreign Exchange Forward Contracts and Options
Derivative gain recognized in OCI (effective portion)	$	1	$	4	$	5	$	10
Derivative gain reclassified from AOCL to income - Cost of sales (effective portion)	—		3		1		6

The following table provides a summary of gains and (losses) on non-designated derivative instruments:


Derivatives NOT Designated as Hedging Instruments	Location of Derivative Gain	Three Months Ended September 30,				Nine Months Ended September 30,
		2020		2019		2020		2019
Foreign exchange contracts – forwards	Other expense – Currency gain, net	$	2	$	2	$	19	$	3