COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

12 Months Ended

Dec. 31, 2021

Equity [Abstract]

Reclassifications out of AOCI

The following table provides details about the reclassifications out of AOCL:

	Year Ended December 31,						Location in the consolidated statements of operations
	2021		2020		2019
Currency translation adjustment losses
Sale of foreign subsidiaries	$	—	$	—	$	(32)	Loss pursuant to the divestiture of MAKS
Total currency translation adjustment losses	—		—		(32)
Losses on cash flow hedges
Interest rate contract	(2)		(3)		—		Other non-operating income, net
Income tax effect of item above	—		1		—		Provision for income taxes
Total net losses on cash flow hedges	(2)		(2)		—
Gains on net investment hedges
Cross currency swaps	—		1		—		Other non-operating income, net
FX forwards	2		—		3		Other non-operating income, net
Total before income taxes	2		1		3
Income tax effect of item above	(1)		—		(1)		Provision for income taxes
Total net gains on net investment hedges	1		1		2
Pension and other retirement benefits
Amortization of actuarial losses and prior service costs included in net income	(11)		(6)		(3)		Other non-operating income, net
Accelerated recognition of loss due to settlement	(8)		(2)		—		Other non-operating income, net
Total before income taxes	(19)		(8)		(3)
Income tax effect of item above	5		2		1		Provision for income taxes
Total pension and other retirement benefits	(14)		(6)		(2)
Total net losses included in Net Income attributable to reclassifications out of AOCL	$	(15)	$	(7)	$	(32)

Components of Accumulated Other Comprehensive Income

The cumulative amount of net investment hedge and cash flow hedge gains (losses) remaining in AOCL is as follows:

	Cumulative Gains/(Losses), net of tax
	December 31, 2021		December 31, 2020
Net investment hedges
FX forwards	$	29	$	12
Cross currency swaps	19		(124)
Long-term debt	(27)		(108)
Total net investment hedges	21		(220)
Cash flow hedges
Interest rate contracts	(49)		(51)
Cross-currency swap	2		2
Total cash flow hedges	(47)		(49)
Total net (loss) gain in AOCL	$	(26)	$	(269)

The following table shows changes in AOCL by component (net of tax):

	Year Ended December 31, 2021
	Pension and Other Retirement Benefits		Gains / (Losses) on Cash Flow Hedges		Foreign Currency Translation Adjustments		Net Investment Hedges		Total
Balance December 31, 2020	$	(118)	$	(49)	$	(45)	$	(220)	$	(432)
Other comprehensive income/(loss) before reclassifications	55		—		(290)		242		7
Amounts reclassified from AOCL	14		2		—		(1)		15
Other comprehensive income/(loss)	69		2		(290)		241		22
Balance December 31, 2021	$	(49)	$	(47)	$	(335)	$	21	$	(410)

	Year Ended December 31, 2020
	Pension and Other Retirement Benefits		Gains / (Losses) on Cash Flow Hedges		Foreign Currency Translation Adjustments		Net Investment Hedges		Total
Balance December 31, 2019	$	(92)	$	—	$	(401)	$	54	$	(439)
Other comprehensive income/(loss) before reclassifications	(32)		(51)		356		(273)		—
Amounts reclassified from AOCL	6		2		—		(1)		7
Other comprehensive income/(loss)	(26)		(49)		356		(274)		7
Balance December 31, 2020	$	(118)	$	(49)	$	(45)	$	(220)	$	(432)

	Year Ended December 31, 2019
	Pension and Other Retirement Benefits		Gains / (Losses) on Cash Flow Hedges		Foreign Currency Translation Adjustments		Net Investment Hedges		Total
Balance December 31, 2018	$	(53)	$	—	$	(406)	$	33	$	(426)
Adoption of ASU 2018-02	(17)		—		—		(3)		(20)
Other comprehensive income/(loss) before reclassifications	(24)		—		(27)		26		(25)
Amounts reclassified from AOCL	2		—		32		(2)		32
Other comprehensive income/(loss)	(39)		—		5		21		(13)
Balance December 31, 2019	$	(92)	$	—	$	(401)	$	54	$	(439)