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Derivatives and Hedging Instruments (Tables)
6 Months Ended
Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of notional amounts of outstanding derivative positions
The aggregate notional amount of the fixed-to-fixed cross-currency rate swap contracts were as follows:
(In millions)June 30, 2024December 31, 2023
Currency
Euros
475 400 
Singapore Dollars
751 751 
Canadian Dollars253 — 
The aggregate notional amount of the fixed-to-fixed cross-currency rate swap contracts were as follows:
(In millions)June 30, 2024December 31, 2023
Currency
British Pounds
525 525 
Euros
157 157 
Schedule of net investment hedges in accumulated other comprehensive income (loss)
Foreign currency transaction gains (losses), net of income tax, related to net investment hedges that were recorded as foreign currency translation within other comprehensive income (loss) in the consolidated statements of comprehensive income were as follows:
Three Months Ended
June 30,
Six Months Ended
June 30,
(In millions)2024202320242023
Cross-currency rate swap contracts
$— $(5)$16 $(7)
Foreign currency-denominated debt
24 (50)101 (114)