v3.25.2
Risk Management (Tables)
 6 Months Ended
Jun. 28, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Largest Net Notional Amounts of the Positions to Buy or Sell Foreign Currency
The following table shows the five largest net notional amounts of the positions to buy or sell foreign currency as of June 28, 2025, and the corresponding positions as of December 31, 2024: 
 Notional Amount
Net Buy (Sell) by CurrencyJune 28, 2025December 31, 2024
British pound$212 $124 
Euro167 150 
Australian dollar(145)(136)
Canadian dollar93 70 
Chinese renminbi(45)(48)
Summary of Fair Values and Location In Condensed Consolidated Balance Sheet, Derivative Financial Instruments
The following tables summarize the fair values and locations in the Condensed Consolidated Balance Sheets of all derivative financial instruments held by the Company as of June 28, 2025 and December 31, 2024:
 Fair Values of Derivative Instruments
June 28, 2025Other Current AssetsAccrued Liabilities
Derivatives designated as hedging instruments:
Foreign exchange contracts$— $20 
Derivatives not designated as hedging instruments:
Foreign exchange contracts9 1 
Equity swap contracts1 — 
Total derivatives$10 $21 
 Fair Values of Derivative Instruments
December 31, 2024Other Current AssetsAccrued Liabilities
Derivatives designated as hedging instruments:
Foreign exchange contracts$7 $— 
Derivatives not designated as hedging instruments:
Foreign exchange contracts3 9 
Equity swap contracts— 1 
Total derivatives$10 $10 
Summary of Derivative Instruments and the Effect on the Condensed Consolidated Statements of Operations
The following table summarizes the effect of derivatives on the Company's condensed consolidated financial statements for the three and six months ended June 28, 2025 and June 29, 2024:
 Financial Statement LocationThree Months EndedSix Months Ended
DerivativesJune 28, 2025June 29, 2024June 28, 2025June 29, 2024
Derivatives designated as hedging instruments:
Foreign exchange contractsAccumulated other
comprehensive income (loss)		$(17)$2 $(23)$6 
Amortized hedge incomeOther income (expense)2 — 3 1 
Treasury rate lockAccumulated other comprehensive income (loss)— — — 4 
Derivatives not designated as hedging instruments:
Foreign exchange contractsOther income (expense)$34 $(5)$48 $(15)
Equity swap contractsSelling, general and administrative expenses2 1 1 2