Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Quantitative Disclosures of Derivative Instruments Including Estimated Fair Values

The following tables present the required quantitative disclosures for our derivative instruments, including their estimated fair values (all estimated using Level 2 inputs) and their location on our condensed consolidated balance sheets (in millions):

	Gain or (Loss) Recognized in Other Comprehensive Income (Loss)
	Three Months Ended March 31,
	2023		2022
Derivatives designated as cash flow hedges(1)
Interest rate swaps	$	(57)	$	223
Forward-currency contracts	$	(1)	$	(2)
Derivatives designated as net investment hedges
Cross-currency rate swaps	$	(35)	$	(60)

(1) We did not exclude any components from the cash flow hedge relationships presented in this table.

	Location of Gain or (Loss) Reclassified from AOCI into Earnings	Gain or (Loss) Reclassified from AOCI into Earnings
		Three Months Ended March 31,
		2023		2022
Derivatives designated as cash flow hedges
Interest rate swaps	Interest expense, net	$	15	$	(29)
Forward-currency contracts	Cost of sales	$	3	$	1
	Location of Gain or (Loss) Recognized in Earnings	Gain or (Loss) Recognized in Earnings (Amount Excluded from Effectiveness Testing)
		Three Months Ended March 31,
		2023		2022
Derivatives designated as net investment hedges
Cross-currency rate swaps	Interest expense, net	$	15	$	11

Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

	Fair Value as of
	March 31, 2023		December 31, 2022		Balance Sheet Location
Assets:
Derivatives designated as cash flow hedges
Interest rate	$	195	$	280	Other assets, net
Foreign currency	4		7		Prepaids and other current assets
Derivatives designated as net investment hedges
Foreign currency	56		78		Other assets, net
Total assets at fair value	$	255	$	365
Liabilities:
Derivatives designated as cash flow hedges
Foreign currency	$	1	$	—	Other accrued liabilities
Derivatives designated as net investment hedges
Foreign currency	44		34		Other liabilities, net
Total liabilities at fair value	$	45	$	34