DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Fair Value of Derivative Instruments

The following table presents the fair value of derivative instruments:

	March 31, 2024						December 31, 2023
	Outstanding Gross Notional Amount		Other Assets		Other Noncurrent liabilities		Outstanding Gross Notional Amount		Other Assets		Other Noncurrent liabilities
Derivatives designated as hedging instruments:
Cash flow hedges:
Interest rate swaps	$	1,120	$	22	$	—	$	1,120	$	7	$	—
Cross currency contracts	120		11		—		120		10		—
Foreign currency forward contracts	8		—		—		—		—		—
Fair value hedges:
Cross currency contracts	721		30		—		721		17		—
Net investment hedges:
Cross currency contracts	230		22		—		230		20		—
Total derivatives designated as hedging instruments	2,199		85		—		2,191		54		—
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	121		—		—		73		—		1
Total derivatives not designated as hedging instruments	121		—		—		73		—		1
Total derivatives	$	2,320	$	85	$	—	$	2,264	$	54	$	1

Summary of Effect of Derivatives on Consolidated Statements of Operations and Accumulated Other Comprehensive Income (Loss)

The following table presents the after tax effect of derivatives on the condensed consolidated statements of operations:

		Amount of income (expense) recognized in income
Derivatives	Location of income (expense) recognized in the condensed consolidated statements of operations	Three Months Ended March 31,
		2024		2023
Cash flow hedging relationships:
Interest rate swaps	Interest expense, net	$	9	$	2
Cross currency contracts	Investment expense (income) and other, net	2		(1)
Cross currency contracts	Interest expense, net	1		1
Foreign currency forward contracts	Investment expense (income) and other, net	—		—
Fair value hedging relationships:
Cross currency contracts	Investment expense (income) and other, net	12		(8)
Cross currency contracts	Interest expense, net	1		1
Net investment hedging relationships:
Cross currency contracts	Interest expense, net	1		1
Not designated as hedging instruments:
Foreign currency forward contracts	Investment expense (income) and other, net	—		—

The following table presents the effect of cash flow and fair value hedge accounting on accumulated other comprehensive income (loss) ("AOCI"):

	Amount of gain (loss) recognized in other comprehensive income				Location of gain (loss) reclassified from AOCI into income	Amount of gain (loss) reclassified from AOCI into income
	Three Months Ended March 31,					Three Months Ended March 31,
Derivatives	2024		2023			2024		2023
Cash flow hedging relationships:
Interest rate swaps	$	11	$	(13)	Interest expense, net	$	4	$	(4)
Cross currency contracts	(1)		1		Investment expense (income) and other, net	2		1
Forward currency forward contracts	—		—		Investment expense (income) and other, net	—		—
Fair value hedging relationships:
Cross currency contracts	—		—		Investment expense (income) and other, net	13		7
Net investment hedging relationships:
Cross currency contracts	2		(1)		Interest expense, net	(1)		(3)