Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2021

The following table provides a summary of the fair value amounts of our derivative instruments:


Designation of Derivatives	Balance Sheet Location	September 30, 2021		December 31, 2020
Derivatives Designated as Hedging Instruments
Foreign exchange contracts - forwards	Other current assets	$	4	$	3
	Accrued expenses and other current liabilities	(5)		(2)
Foreign currency options	Other current assets	—		1



	Net designated derivative (liability) asset	$	(1)	$	2

Derivatives NOT Designated as Hedging Instruments
Foreign exchange contracts – forwards	Other current assets	$	4	$	3
	Accrued expenses and other current liabilities	(4)		(3)
	Net undesignated derivative assets	$	—	$	—

Summary of Derivatives	Total Derivative assets	$	8	$	7
	Total Derivative liabilities	(9)		(5)
	Net Derivative (liability) asset	$	(1)	$	2

The following table provides a summary of gains (losses) on derivative instruments:


	Three Months Ended September 30,				Nine Months Ended September 30,
Gain (Loss) on Derivative Instruments	2021		2020		2021		2020
Fair Value Hedges - Interest Rate Contracts
Derivative loss recognized in interest expense	$	—	$	—	$	—	$	(1)
Hedged item gain recognized in interest expense	—		—		—		1

Cash Flow Hedges - Foreign Exchange Forward Contracts and Options
Derivative gain (loss) recognized in OCI (effective portion)	$	3	$	1	$	(9)	$	5
Derivative (loss) gain reclassified from AOCL to income - Cost of sales (effective portion)	(2)		—		(5)		1

The following table provides a summary of gains and (losses) on non-designated derivative instruments:


Derivatives NOT Designated as Hedging Instruments	Location of Derivative Gain (Loss)	Three Months Ended September 30,				Nine Months Ended September 30,
		2021		2020		2021		2020
Foreign exchange contracts – forwards	Other expense – Currency gains (losses), net	$	2	$	2	$	(20)	$	19