COMPREHENSIVE INCOME AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Reclassifications out of AOCI

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
	March 31, 2023		December 31, 2022
Net investment hedges
Cross currency swaps	$	79	$	118
FX forwards	29		29
Long-term debt	20		38
Total net investment hedges	$	128	$	185
Cash flow hedges
Interest rate contracts	$	(46)	$	(47)
Cross currency swaps	2		2
Total cash flow hedges	(44)		(45)
Total net gain in AOCL	$	84	$	140

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

	Three Months Ended March 31,
	2023										2022
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,	$	(47)	$	(45)	$	(736)	$	185	$	(643)	$	(49)	$	(47)	$	(335)	$	21	$	(410)
Other comprehensive income/(loss) before reclassifications	—		—		110		(57)		53		(2)		—		(107)		47		(62)
Amounts reclassified from AOCL	—		1		—		—		1		—		1		—		—		1
Other comprehensive income/(loss)	—		1		110		(57)		54		(2)		1		(107)		47		(61)
Balance at March 31,	$	(47)	$	(44)	$	(626)	$	128	$	(589)	$	(51)	$	(46)	$	(442)	$	68	$	(471)