v3.25.0.1
DERIVATIVES AND HEDGING ACTIVITIES (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table summarizes the Group's outstanding derivative instruments designated as cash flow hedges:
As of December 31,
20242023
Hedged ItemNotional ($ in millions)Expiration dateNotional ($ in millions)Expiration date
Cross-currency interest rate swapsTerm Loan$689 June 30, 2025$1,603 September 30, 2024 to June 30, 2025
Cross-currency interest rate swapsUSD Senior Secured Notes$525 April 15, 2026$— 
Interest rate swapsTerm Loan$1,949 June 30, 2025 to September 30, 2026$1,094 September 30, 2024 to June 30, 2025
The following table summarizes the hedging instruments designated in a net investment hedge and were considered highly effective:
As of December 31,
20242023
Notional ($ in millions)Expiration dateNotional ($ in millions)Expiration date
Euro denominated debt$919 July 31, 2028 to April 29, 2029$980 July 21, 2026 to July 31, 2028
Cross-currency interest rate swaps$830 June 30, 2025 to September 30, 2026$359 June 30, 2025
Schedule of the Fair Value of Derivatives Assets and Liabilities
The following table summarizes the fair value of the Group's derivatives as of December 31, 2024 and 2023:
($ in millions)Derivative AssetsDerivative Liabilities
Dec-24Dec-23Dec-24Dec-23
Balance
sheet
location		Fair valueBalance
sheet
location		Fair
value		Balance
sheet
location		Fair
value		Balance
sheet
location		Fair
value
Derivatives designated as cash flow hedges:
Cross-currency interest rate swapsPrepaid expenses and other current assets$7 Prepaid expenses and other current assets$— Other current liabilities$(9)Other current liabilities$(104)
Cross-currency interest rate swapsOther non- current assets5 Other non- current assets— Other non- current liabilities— Other non- current liabilities(21)
Interest rate swapsPrepaid expenses and other current assets9 Prepaid expenses and other current assets— Other current liabilities— Other current liabilities— 
Interest rate swapsOther non- current assets5 Other non- current assets— Other non- current liabilities— Other non- current liabilities— 
Total derivatives designated as hedging instrument$26 $— $(9)$(125)
Derivatives designated as fair value hedges:
Cross-currency interest rate swapsPrepaid expenses and other current assets$2 Prepaid expenses and other current assets$— Other current liabilities$— Other current liabilities$— 
Cross-currency interest rate swapsOther non- current assets82 Other non- current assets— Other non- current liabilities— Other non- current liabilities— 
Total derivatives not designated as hedging instruments$84 $— $— $— 
Derivatives designated as net investment hedges:
Cross-currency interest rate swapsPrepaid expenses and other current assets23 Prepaid expenses and other current assets— Other current liabilities— Other current liabilities(1)
Cross-currency interest rate swapsOther non- current assets— Other non- current assets— Other non- current liabilities(5)Other non- current liabilities— 
Total derivatives designated as hedging instrument$23 $— $(5)$(1)
Derivatives not designated as hedging instruments:
Cross-currency interest rate swapsPrepaid expenses and other current assets— Prepaid expenses and other current assets— Other current liabilities(1)Other current liabilities(52)
Total derivatives not designated as hedging instruments$— $— $(1)$(52)
Total derivatives$133 $— $(15)$(178)