CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT (Tables)

6 Months Ended

Jun. 30, 2021

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

Changes in the Balances of Accumulated Other Comprehensive Loss

The tables below present the changes in the balances of accumulated other comprehensive loss ("AOCI") by component for the three and six months ended June 30, 2021 and 2020 (in millions): 

	Foreign currency translation adjustments										Unrealized losses on cash flow hedges(1)						Net unrealized gains (losses) on available-for-sale securities						Total AOCI, net of tax
	Foreign currency translation				Net investment hedges (2)				Total, net of tax		Before tax		Tax		Total, net of tax		Before tax		Tax		Total, net of tax
	Before tax		Tax (3)		Before tax		Tax
Three Months Ended June 30, 2021
Balance, March 31, 2021	$	(106)	$	51	$	(75)	$	11	$	(119)	$	(15)	$	4	$	(11)	$	2	$	(32)	$	(30)	$	(160)
Other comprehensive income (loss) ("OCI") before reclassifications	24		(1)		(20)		5		8		—		—		—		128		(30)		98		106
Amounts reclassified to   net income (4)	—		—		—		—		—		15		(4)		11		—		—		—		11
OCI for the period	24		(1)		(20)		5		8		15		(4)		11		128		(30)		98		117
Balance, June 30, 2021	$	(82)	$	50	$	(95)	$	16	$	(111)	$	—	$	—	$	—	$	130	$	(62)	$	68	$	(43)
Six Months Ended June 30, 2021
Balance, December 31, 2020	$	11	$	47	$	(184)	$	37	$	(89)	$	—	$	—	$	—	$	3	$	(32)	$	(29)	$	(118)
OCI before reclassifications	(93)		3		89		(21)		(22)		(15)		4		(11)		127		(30)		97		64
Amounts reclassified to net income (4)	—		—		—		—		—		15		(4)		11		—		—		—		11
OCI for the period	(93)		3		89		(21)		(22)		—		—		—		127		(30)		97		75
Balance, June 30, 2021	$	(82)	$	50	$	(95)	$	16	$	(111)	$	—	$	—	$	—	$	130	$	(62)	$	68	$	(43)

	Foreign currency translation adjustments										Unrealized losses on cash flow hedges(1)						Net unrealized (losses) gains on available-for-sale securities						Total AOCI, net of tax
	Foreign currency translation				Net investment hedges (2)				Total, net of tax		Before tax		Tax		Total, net of tax		Before tax		Tax		Total, net of tax
	Before tax		Tax (3)		Before tax		Tax
Three Months Ended June 30, 2020
Balance, March 31, 2020	$	(314)	$	58	$	60	$	(20)	$	(216)	$	—	$	—	$	—	$	(97)	$	(29)	$	(126)	$	(342)
OCI before reclassifications	65		—		(43)		10		32		—		—		—		73		(11)		62		94
Amounts reclassified to   net income (4)	—		—		—		—		—		—		—		—		—		15		15		15
OCI for the period	65		—		(43)		10		32		—		—		—		73		4		77		109
Balance, June 30, 2020	$	(249)	$	58	$	17	$	(10)	$	(184)	$	—	$	—	$	—	$	(24)	$	(25)	$	(49)	$	(233)
Six Months Ended June 30, 2020
Balance, December 31, 2019	$	(186)	$	54	$	(2)	$	(5)	$	(139)	$	—	$	—	$	—	$	(7)	$	(45)	$	(52)	$	(191)
OCI before reclassifications	(63)		4		19		(5)		(45)		—		—		—		(21)		6		(15)		(60)
Amounts reclassified to   net income (4)	—		—		—		—		—		—		—		—		4		14		18		18
OCI for the period	(63)		4		19		(5)		(45)		—		—		—		(17)		20		3		(42)
Balance, June 30, 2020	$	(249)	$	58	$	17	$	(10)	$	(184)	$	—	$	—	$	—	$	(24)	$	(25)	$	(49)	$	(233)

(1)       Relates to the reverse treasury lock agreements entered in March 2021 that were designated as cash flow hedges and settled in April 2021 (see Note 6).

(2)         Net investment hedges balance at June 30, 2021 and earlier dates presented above, includes accumulated net losses from fair value adjustments of $35 million ($53 million before tax) associated with previously settled derivatives that were designated as net investment hedges. The remaining balances relate to foreign currency transaction gains (losses) and related tax benefits (expenses) associated with the Company's Euro-denominated debt that is designated as a hedge of the foreign currency exposure of the net investment in certain Euro functional currency subsidiaries (see Note 9).

(3)         The tax benefits relate to foreign currency translation adjustments to the Company's 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 U.S. Tax Cuts and Jobs Act (the "Tax Act").

(4)         The reclassified losses before tax are included in "Other income (expense), net" and the related reclassified tax benefits are included in "Income tax expense (benefit)" in the Unaudited Consolidated Statements of Operations. The cost of marketable debt securities sold is determined using a first-in and first-out method. For the three and six months ended June 30, 2020, the amounts reclassified to net income include a tax expense of $15 million related to the maturity in May 2020 of the Company's investment of $250 million in Trip.com Group convertible notes. The tax expense is included in "Income tax expense (benefit)" in the Unaudited Consolidated Statements of Operations.