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Derivative Instruments (Tables)
 3 Months Ended
Mar. 28, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Assets and Liabilities The following table presents the fair value of its derivative instruments (in millions):
 
Asset (Liability)
 
 
 
Fair Values as of
 
Balance Sheet Classification
 
March 28,
2020
 
December 31,
2019
Derivative instruments designated as hedges:
 
 
 
 
 
    Foreign exchange contracts
Prepaid expenses and other current assets
 
$
6

 
$
3

Total derivative instruments designated as hedges

 
$
6

 
$
3

 
 
 
 
 
 
Derivative instruments not designated as hedges:

 
 
 
 
    Foreign exchange contracts
Accrued liabilities
 
$
(1
)
 
$
—

    Forward interest rate swaps
Accrued liabilities
 
(15
)
 
(5
)
    Forward interest rate swaps
Other long-term liabilities
 
(33
)
 
(8
)
Total derivative instruments not designated as hedges
 
 
$
(49
)
 
$
(13
)
Total net derivative liability
 
 
$
(43
)
 
$
(10
)
Schedule of Gains (Losses) from Changes in Fair Values of Derivatives
The following table presents the losses from changes in fair values of derivatives that are not designated as hedges (in millions):
 
Losses Recognized in Income
 
 
 
Three Months Ended
 
Statements of Operations Classification
 
March 28,
2020
 
March 30,
2019
Derivative instruments not designated as hedges:
 
 
 
 
 
    Foreign exchange contracts
Foreign exchange loss
 
$
(1
)
 
$
(2
)
    Forward interest rate swaps
Interest expense, net
 
(35
)
 
(8
)
Total loss recognized in income
 
 
$
(36
)
 
$
(10
)
Schedule of Notional Values and Net Fair Value of Forward Contracts The notional values and the net fair value of these outstanding contracts are as follows (in millions):
 
March 28,
2020
 
December 31,
2019
Notional balance of outstanding contracts:
 
 
 
British Pound/U.S. Dollar
£
13

 
£
14

Euro/U.S. Dollar
€
53

 
€
36

Canadian Dollar/U.S. Dollar
C$
2

 
C$
1

Australian Dollar/U.S. Dollar
A$
9

 
A$
42

Japanese Yen/U.S. Dollar
¥
148

 
¥
264

Singapore Dollar/U.S. Dollar
S$
19

 
S$
19

Mexican Peso/U.S. Dollar
Mex$
107

 
Mex$
115

Chinese Yuan/U.S. Dollar
¥
43

 
¥


South African Rand/U.S. Dollar
R
38

 
R
42

Net fair value of liabilities of outstanding contracts
$
1

 
$
—