XML 37 R27.htm IDEA: XBRL DOCUMENT v3.22.1
Derivative Instruments (Tables)
 3 Months Ended
Apr. 02, 2022
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 ClassificationApril 2,
2022		December 31,
2021
Derivative instruments designated as hedges:
    Foreign exchange contractsPrepaid expenses and other current assets$29 $23 
Total derivative instruments designated as hedges$29 $23 
Derivative instruments not designated as hedges:
    Foreign exchange contractsPrepaid expenses and other current assets$1 $— 
    Forward interest rate swapsPrepaid expenses and other current assets2 — 
    Forward interest rate swapsOther long-term assets25 — 
    Forward interest rate swapsAccrued liabilities(5)(15)
    Forward interest rate swapsOther long-term liabilities— (1)
Total derivative instruments not designated as hedges$23 $(16)
Total net derivative asset$52 $7 
Schedule of Net Gains (Losses) from Changes in Fair Values of Derivatives Not Designated as Hedges The following table presents the net gains (losses) from changes in fair values of derivatives that are not designated as hedges (in millions):
Gains (Losses) Recognized in Income
 Three Months Ended
Statements of Operations ClassificationApril 2,
2022		April 3,
2021
Derivative instruments not designated as hedges:
Foreign exchange contractsForeign exchange gain$(1)$6 
Forward interest rate swapsInterest income, net34 8 
Total gains recognized in income$33 $14 
Schedule of Notional Value and Net Fair Value of Outstanding Contracts The notional values and the net fair values of these outstanding contracts were as follows (in millions):
 April 2,
2022		December 31,
2021
Notional balance of outstanding contracts:
British Pound/U.S. Dollar£17 £13 
Euro/U.S. Dollar€94 €142 
Euro/Czech Koruna€16 €16 
Singapore Dollar/U.S. DollarS$20 S$16 
Mexican Peso/U.S. DollarMex$98 Mex$64 
Polish Zloty/U.S. Dollarzł7 zł103 
Net fair value of assets of outstanding contracts$1 $—