ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)

9 Months Ended

Sep. 30, 2019

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Balances for each classification of accumulated other comprehensive income (loss)

The table below provides the balances for each classification of accumulated other comprehensive loss at September 30, 2019 and December 31, 2018 (in millions): 

	September 30, 2019			December 31, 2018
Foreign currency translation adjustments, net of tax (1)	$	(192	)	$	(129	)
Net unrealized losses on debt securities, net of tax (2)	(73		)	(187		)
Accumulated other comprehensive loss	$	(265	)	$	(316	)

(1) Foreign currency translation adjustments, net of tax, at September 30, 2019 and December 31, 2018, includes accumulated net losses from fair value adjustments of $35 million after tax ($53 million before tax) associated with previously settled derivatives that were designated as net investment hedges.

Foreign currency translation adjustments, net of tax, includes foreign currency transaction gains of $86 million ($126 million before tax) and foreign currency transaction losses of $26 million ($20 million before tax) at September 30, 2019 and December 31, 2018, respectively, associated with the Company's Euro-denominated debt that is designated as a hedge against the impact of currency fluctuations on the net assets of a Euro functional currency subsidiary (see Note 9).

The remaining balance in foreign currency translation adjustments relates to the cumulative impacts of currency fluctuations on the Company's non-U.S. Dollar functional currency subsidiaries' net assets. At September 30, 2019 and December 31, 2018, the Company had deferred tax benefits of $64 million and $41 million, respectively, related to foreign currency translation adjustments to its one-time deemed repatriation tax liability recorded at December 31, 2017 and foreign earnings for periods after December 31, 2017 that are subject to U.S. federal and state income tax, resulting from the enactment of the Tax Act.

(2)       Net unrealized losses on debt securities, net of tax, includes cumulative tax charges of $38 million and $30 million at September 30, 2019 and December 31, 2018, respectively.