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Risk Management (Tables)

6 Months Ended

Jun. 27, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Largest Net Notional Amounts of The Positions to Buy or Sell Foreign Currency

The following table shows the five largest net notional amounts of the positions to buy or sell foreign currency as of June 27, 2020, and the corresponding positions as of December 31, 2019:


	Notional Amount
Net Buy (Sell) by Currency	June 27, 2020		December 31, 2019
Euro	$	213	$	134
British Pound	100		107
Danish Krone	27		18
Australian dollar	(110)		(123)
Chinese renminbi	(68)		(79)

Summary of Fair Values and Location In Condensed Consolidated Balance Sheet

The following tables summarize the fair values and locations in the Condensed Consolidated Balance Sheets of all derivative financial instruments held by the Company as of June 27, 2020 and December 31, 2019:


	Fair Values of Derivative Instruments
June 27, 2020	Other Current Assets		Accrued Liabilities
Derivatives designated as hedging instruments:
Foreign exchange contracts	$	3	$	—
Derivatives not designated as hedging instruments:
Foreign exchange contracts	6		3
Total derivatives	$	9	$	3


	Fair Values of Derivative Instruments
December 31, 2019	Other Current Assets				Accrued Liabilities
Derivatives designated as hedging instruments:
Foreign exchange contracts	$	3	$	—
Derivatives not designated as hedging instruments:
Foreign exchange contracts	1		5
Total derivatives	$	4	$	5

Summary of Derivative Instruments and The Effect on the Condensed Consolidated Statements Of Operations

The following table summarizes the effect of derivatives on the Company's condensed consolidated financial statements for the three and six months ended June 27, 2020 and June 29, 2019:


	Three Months Ended						Six Months Ended			Financial Statement Location
Foreign Exchange Contracts	June 27, 2020		June 29, 2019		June 27, 2020		June 29, 2019
Effective portion	$	(11)	$	6	$	8	$	8	Accumulated other comprehensive income
Forward points recognized	1		2		2		3		Other income
Undesignated derivatives recognized	12		(3)		(4)		(7)		Other expense

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details