Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Derivatives Outstanding

At June 30, 2023 there were three interest rate derivatives outstanding as follows:

Secured Borrowing	Derivative Type	Principal Debt (1)		Notional Amount		Expected Maturity	Pre-Hedged Rate		Hedged Rate		Net Fair Value
United States	N/A	$	277	$	—	2024	6.52	%	—	%	$	—
United States	Cap	75		75		2024	6.49	%	0.50	%	2
Canada	Swap	42		36		2025	5.86	%	2.57	%	1
France	Cap	132		158		2025	4.69	%	3.00	%	1
Total		$	526	$	269						$	4

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(1)Excludes debt issuance costs of $1 at June 30, 2023.

Schedule of Derivative Instruments Fair Value

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

Designation of Derivatives	Balance Sheet Location	June 30, 2023		December 31, 2022
Derivatives Designated as Hedging Instruments
Foreign exchange contracts - forwards	Other current assets	$	—	$	5
	Accrued expenses and other current liabilities	(9)		(9)
Interest rate cap	Other long-term assets	3		6
Interest rate swap	Other long-term assets	1		1
	Net designated derivative (liabilities) assets	$	(5)	$	3
Derivatives NOT Designated as Hedging Instruments
Foreign exchange contracts – forwards	Other current assets	$	6	$	14
	Accrued expenses and other current liabilities	(14)		(2)
Interest rate cap	Other long-term assets	3		—
	Net undesignated derivative assets	$	(5)	$	12
Summary of Derivatives	Total Derivative assets	$	13	$	26
	Total Derivative liabilities	(23)		(11)
	Net Derivative (liabilities) assets	$	(10)	$	15

Schedule of Gains (losses) on Derivative Instruments

The following table provides a summary of gains (losses) on derivative instruments in cash flow hedging relationships:

	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Derivative Loss Recognized in OCI (Effective Portion)
Foreign exchange contracts - forwards and options	$	(13)	$	(23)	$	(15)	$	(38)
Interest rate contracts	—		—		—		—
Total	$	(13)	$	(23)	$	(15)	$	(38)
Location of Derivative Losses Reclassified from AOCL to Income (Effective Portion)
Cost of sales	$	(8)	$	(4)	$	(14)	$	(6)
Interest expense	1		—		2		—
Total	$	(7)	$	(4)	$	(12)	$	(6)

Schedule of Derivatives Not Designated as Hedging Instruments Gains (Losses)

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 June 30,				Six Months Ended June 30,
		2023		2022		2023		2022
Foreign exchange contracts – forwards	Other expenses, net – Currency losses, net	$	(28)	$	(14)	$	(33)	$	(23)