Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Effect of derivative financial instruments

The table below presents the effect of our derivative financial instruments on the Condensed Consolidated Income Statements and Statements of Comprehensive Income. Items in the table below reflect changes in "Other comprehensive loss" ("OCL") within the Statements of Comprehensive Income:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2023		2022		2023		2022
Cash Flow Hedges
Foreign Exchange Contracts
Amount of (loss) recognized in OCL	$	(4)	$	(6)	$	(3)	$	(25)
Amount of loss reclassified from OCL into Revenue	—		6		2		10
Amount of loss reclassified from OCL into Cost of revenue	—		—		2		1
Net Investment Hedges
Cross-Currency Swaps
Amount of gain (loss) recognized in OCL	$	36	$	113	$	(23)	$	207
Amount of income recognized in Interest expense	8		9		23		22
Foreign Currency Denominated Debt
Amount of gain recognized in OCL	$	—	$	—	$	—	$	31
Fair Value Hedges
Foreign Exchange Contracts
Amount of gain (loss) recognized in OCL	$	—	$	(2)	$	—	$	2
Amount of (loss) recognized in Selling, general and administrative expenses	$	—	$	(39)	$	—	$	(50)
Amount recognized in Interest expense	$	—	$	(1)	$	—	$	(2)

Fair values of foreign exchange contracts

The fair values of our derivative contracts currently included in our hedging program were as follows:

(in millions)	September 30, 2023		December 31, 2022
Derivatives designated as hedging instruments
Assets
Cash Flow Hedges
Prepaid and other current assets	$	1	$	—
Net Investment Hedges
Other non-current assets	$	63	$	79
Liabilities
Cash Flow Hedges
Accrued and other current liabilities	$	(5)	$	—
Net Investment Hedges
Other non-current accrued liabilities	$	(11)	$	(6)