COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

9 Months Ended

Sep. 30, 2022

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


	Three Months Ended September 30,				Location in the consolidated statements of operations
Losses on cash flow hedges	2022		2021



Interest rate contract	$	(1)	$	(1)	Other non-operating income, net
Income tax effect of item above	1		—		Provision for income taxes
Total net gains (losses) on cash flow hedges	—		(1)




Pension and other retirement benefits
Amortization of actuarial losses and prior service costs included in net income	(1)		(2)		Other non-operating income, net
Settlement charge	—		(1)		Other non-operating income, net
Total before income taxes	(1)		(3)
Income tax effect of items above	—		1		Provision for income taxes
Total pension and other retirement benefits	(1)		(2)
Total net losses included in Net Income attributable to reclassifications out of AOCL	$	(1)	$	(3)


	Nine Months Ended September 30,				Location in the consolidated statements of operations
Losses on currency translation adjustments	2022		2021
Foreign currency translation adjustments - reclassification of losses included in net income	$	(20)	$	—	Other non-operating income, net
Total losses on currency translation adjustments	(20)		—
Losses on cash flow hedges

Interest rate contract	(2)		(2)		Other non-operating income, net
Income tax effect of item above	1		—		Provision for income taxes
Total net losses on cash flow hedges	(1)		(2)
Gains (losses) on net investment hedges
FX forwards	—		2		Other non-operating income, net
Income tax effect of item above	—		(1)		Provision for income taxes
Total net gains on net investment hedges	—		1
Pension and other retirement benefits
Amortization of actuarial losses and prior service costs included in net income	(2)		(8)		Other non-operating income, net
Settlement charge	—		(8)		Other non-operating income, net
Total before income taxes	(2)		(16)
Income tax effect of item above	—		4		Provision for income taxes
Total pension and other retirement benefits	(2)		(12)
Total net losses included in Net Income attributable to reclassifications out of AOCL	$	(23)	$	(13)

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
	September 30, 2022		December 31, 2021
Net investment hedges
Cross currency swaps	$	292	$	19
FX forwards	29		29
Long-term debt	121		(27)
Total net investment hedges	$	442	$	21
Cash flow hedges
Interest rate contracts	$	(48)	$	(49)
Cross currency swaps	2		2
Total cash flow hedges	(46)		(47)
Total net gain (loss) in AOCL	$	396	$	(26)

The following tables show changes in AOCL by component (net of tax):


	Three Months Ended September 30,
	2022										2021
Gains/(Losses)	Pension and Other Retirement Benefits		Cash Flow Hedges		Foreign Currency Translation Adjustments		Net Investment Hedges		Total		Pension and Other Retirement Benefits		Cash Flow Hedges		Foreign Currency Translation Adjustments		Net Investment Hedges		Total
Balance at June 30,	$	(46)	$	(46)	$	(756)	$	249	$	(599)	$	(108)	$	(48)	$	(152)	$	(117)	$	(425)
Other comprehensive income/(loss) before reclassifications	—		—		(343)		193		(150)		3		—		(116)		73		(40)
Amounts reclassified from AOCL	1		—		—		—		1		2		1		—		—		3
Other comprehensive income/(loss)	1		—		(343)		193		(149)		5		1		(116)		73		(37)
Balance at September 30,	$	(45)	$	(46)	$	(1,099)	$	442	$	(748)	$	(103)	$	(47)	$	(268)	$	(44)	$	(462)


	Nine Months Ended September 30,
	2022										2021
Gains/(Losses)	Pension and Other Retirement Benefits		Cash Flow Hedges		Foreign Currency Translation Adjustments		Net Investment Hedges		Total		Pension and Other Retirement Benefits		Cash Flow Hedges		Foreign Currency Translation Adjustments		Net Investment Hedges		Total
Balance at December 31,	$	(49)	$	(47)	$	(335)	$	21	$	(410)	$	(118)	$	(49)	$	(45)	$	(220)	$	(432)
Other comprehensive income/(loss) before reclassifications	2		—		(784)		421		(361)		3		—		(223)		177		(43)
Amounts reclassified from AOCL	2		1		20		—		23		12		2		—		(1)		13

Other comprehensive income/(loss)	4		1		(764)		421		(338)		15		2		(223)		176		(30)
Balance at September 30,	$	(45)	$	(46)	$	(1,099)	$	442	$	(748)	$	(103)	$	(47)	$	(268)	$	(44)	$	(462)