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CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT (Details) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Mar. 31, 2021
Total AOCI, net of tax          
Balance $ 4,002 $ 4,799 $ 6,178 $ 4,893  
OCI, before reclassifications, net of tax (137) (29) (245) 35  
Amounts reclassified to net income, net of tax (2)   (2) 11  
Total other comprehensive (loss) income, net of tax (139) (29) (247) 46  
Balance 3,670 5,545 3,670 5,545  
Cash Flow Hedging | Reverse Treasury Lock | Designated as Hedging Instrument          
Total AOCI, net of tax          
Notional amount         $ 1,800
Foreign currency translation          
Before tax          
Balance (717) (82) (276) 11  
OCI before reclassifications, before tax (402) (110) (843) (203)  
Amounts reclassified to net income, before tax 0   0 0  
OCI after reclassifications, before tax (402) (110) (843) (203)  
Balance (1,119) (192) (1,119) (192)  
Tax (expense) benefit          
Balance [1] 112 50 67 47  
OCI before reclassifications, tax [1] 51 10 96 13  
Amounts reclassified to net income, tax [1] 0   0 0  
OCI after reclassifications, tax [1] 51 10 96 13  
Balance [1] 163 60 163 60  
Net Investment Hedges          
Before tax          
Balance [2] 470 (95) 91 (184)  
OCI before reclassifications, before tax [2] 293 93 672 182  
Amounts reclassified to net income, before tax [2] 0   0 0  
OCI after reclassifications, before tax [2] 293 93 672 182  
Balance [2] 763 (2) 763 (2)  
Tax (expense) benefit          
Balance [2] (119) 16 (28) 37  
OCI before reclassifications, tax [2] (69) (23) (160) (44)  
Amounts reclassified to net income, tax [2] 0   0 0  
OCI after reclassifications, tax [2] (69) (23) (160) (44)  
Balance [2] (188) (7) (188) (7)  
Foreign currency translation adjustments          
Total AOCI, net of tax          
Balance (254) (111) (146) (89)  
OCI, before reclassifications, net of tax (127) (30) (235) (52)  
Amounts reclassified to net income, net of tax 0   0 0  
Total other comprehensive (loss) income, net of tax (127) (30) (235) (52)  
Balance (381) (141) (381) (141)  
Foreign currency translation adjustments | Net Investment Hedging | Foreign Currency Forward          
Before tax          
Balance (53) (53) (53) (53)  
Balance (53) (53) (53) (53)  
Total AOCI, net of tax          
Balance (35) (35) (35) (35)  
Balance (35) (35) (35) (35)  
Unrealized losses on cash flow hedges          
Before tax          
Balance [3] 0 0 0 0  
OCI before reclassifications, before tax [3] 0 0 0 (15)  
Amounts reclassified to net income, before tax [3] 0   0 15  
OCI after reclassifications, before tax [3] 0 0 0 0  
Balance [3] 0 0 0 0  
Tax (expense) benefit          
Balance [3] 0 0 0 0  
OCI before reclassifications, tax [3] 0 0 0 4  
Amounts reclassified to net income, tax [3] 0   0 (4)  
OCI after reclassifications, tax [3] 0 0 0 0  
Balance [3] 0 0 0 0  
Total AOCI, net of tax          
Balance [3] 0 0 0 0  
OCI, before reclassifications, net of tax [3] 0 0 0 (11)  
Amounts reclassified to net income, net of tax [3] 0   0 11  
Total other comprehensive (loss) income, net of tax [3] 0 0 0 0  
Balance [3] 0 0 0 0  
Net unrealized gains (losses) on available-for-sale securities          
Before tax          
Balance 3 130 3 3  
OCI before reclassifications, before tax (13) 1 (13) 128  
Amounts reclassified to net income, before tax (3)   (3) 0  
OCI after reclassifications, before tax (16) 1 (16) 128  
Balance (13) 131 (13) 131  
Tax (expense) benefit          
Balance (1) (62) (1) (32)  
OCI before reclassifications, tax 3 0 3 (30)  
Amounts reclassified to net income, tax 1   1 0  
OCI after reclassifications, tax 4 0 4 (30)  
Balance 3 (62) 3 (62)  
Total AOCI, net of tax          
Balance 2 68 2 (29)  
OCI, before reclassifications, net of tax (10) 1 (10) 98  
Amounts reclassified to net income, net of tax (2)   (2) 0  
Total other comprehensive (loss) income, net of tax (12) 1 (12) 98  
Balance (10) 69 (10) 69  
Total AOCI          
Total AOCI, net of tax          
Balance (252) (43) (144) (118)  
Balance $ (391) $ (72) $ (391) $ (72)  
[1] 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").
[2] Net investment hedges balance at September 30, 2022 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] Relates to the reverse treasury lock agreements with an aggregate notional amount of $1.8 billion entered in March 2021 to hedge the risk of changes in the cash flows related to the planned redemption, in April 2021, of the Senior Notes due April 2025 and the Senior Notes due April 2027. The agreements were designated as cash flow hedges and settled in April 2021. The reclassified losses, before tax, are included in "Other income (expense), net" and the related reclassified tax benefits are included in "Income tax expense" in the Unaudited Consolidated Statements of Operations.