Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2022

Financial Instruments [Abstract]

Summary of Notional Amounts, Annual Rates, Annual Effective Rates and Fair Value of Interest Rate Derivatives

The following table provides the notional amounts, the annual rates, the annual effective rates, and the fair value of our interest rate derivatives:

(In millions)	Notional Amount		Annual Rate	Annual Effective Rate	Fair Value Asset
As of March 31, 2022	$	800	0.20% to 0.47%	1.96% to 2.22%	$	14
As of December 31, 2021	$	800	0.20% to 0.47%	1.96% to 2.22%	$	5

Summary of Before Tax Effect of Interest Rate Derivatives on Accumulated Other Comprehensive Income

The following table provides the before tax effect of our interest rate derivatives on accumulated other comprehensive income and the consolidated statements of income: 

(In millions)	Amount of Gain (Loss) Recognized in Other Comprehensive Income		Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income Into Income
For the three months ended March 31, 2022	$	9	$	—
For the three months ended March 31, 2021	$	3	$	—