As of September 30, 2021 and 2020, the following table shows the Company’s derivative instruments at gross fair value: | | | | | | | | | | | | | | | | | | | | | | | | | September 30, | | | Balance Sheet Location | | 2021 | | 2020 | | | | | (in millions) | | Assets | | | | | | | | Designated as Hedging Instrument: | | | | | | | | Foreign exchange contracts | | Prepaid expenses and other current assets and other assets | | $ | 270 | | | $ | 257 | | | Interest rate swap | | Other assets | | $ | 138 | | | $ | 248 | | | Not Designated as Hedging Instrument: | | | | | | | | Foreign exchange contracts | | Prepaid expenses and other current assets | | $ | 2 | | | $ | 7 | | | Liabilities | | | | | | | | Designated as Hedging Instrument: | | | | | | | | Foreign exchange contracts | | Accrued liabilities | | $ | 13 | | | $ | 39 | | | Cross-currency swap | | Other liabilities | | $ | 90 | | | $ | 137 | | | Not Designated as Hedging Instrument: | | | | | | | | Foreign exchange contracts | | Accrued liabilities | | $ | 6 | | | $ | 5 | |
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