Derivative Instruments (Tables)

9 Months Ended

Sep. 28, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following table presents the fair value of its derivative instruments (in millions):

	Asset (Liability)
		Fair Values as of
	Balance Sheets Classification	September 28, 2024		December 31, 2023
Derivative instruments designated as hedges:
Foreign exchange contracts	Accrued liabilities	$	(14)	$	(6)
Total derivative instruments designated as hedges		$	(14)	$	(6)
Derivative instruments not designated as hedges:
Forward interest rate swaps	Prepaid expenses and other current assets	$	—	$	34
Forward interest rate swaps	Other long-term assets	—		49
Foreign exchange contracts	Accrued liabilities	(1)		(1)
Forward interest rate swaps	Accrued liabilities	—		(12)
Forward interest rate swaps	Other long-term liabilities	—		(16)
Total derivative instruments not designated as hedges		$	(1)	$	54
Total net derivative (liability) asset		$	(15)	$	48

Schedule of Net Gains (Losses) from Changes in Fair Values of Derivatives Not Designated as Hedges

The following table presents the net gains (losses) from changes in fair values of derivatives that are not designated as hedges (in millions):

	Gains (Losses) Recognized in Income
		Three Months Ended				Nine Months Ended
	Statements of Operations Classification	September 28, 2024		September 30, 2023		September 28, 2024		September 30, 2023
Derivative instruments not designated as hedges:
Foreign exchange contracts	Foreign exchange (loss) gain	$	(7)	$	1	$	(5)	$	(3)
Forward interest rate swaps	Interest expense, net	—		23		31		34
Total net (loss) gain recognized in income		$	(7)	$	24	$	26	$	31

Schedule of Notional Value and Net Fair Value of Outstanding Contracts

The notional values and the net fair values of these outstanding contracts were as follows (in millions):

	September 28, 2024		December 31, 2023
Notional balance of outstanding contracts:
British Pound/U.S. Dollar	£	2	£	11
Euro/U.S. Dollar	€	183	€	80
Euro/Czech Koruna	€	16	€	17
Japanese Yen/U.S. Dollar	¥	274	¥	685
Singapore Dollar/U.S. Dollar	S$	19	S$	14
Mexican Peso/U.S. Dollar	Mex$	166	Mex$	144
Polish Zloty/U.S. Dollar	zł	39	zł	116
Net fair value of liabilities of outstanding contracts	$	1	$	1