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CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT
 12 Months Ended
Dec. 31, 2022
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]  
CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT
 
The table below presents the changes in the balances of accumulated other comprehensive loss ("AOCI") by component for the years ended December 31, 2020, 2021, and 2022 (in millions):
Foreign currency translation adjustments
Unrealized losses on cash flow hedges (1)
Net unrealized gains (losses) on available-for-sale securitiesTotal AOCI, net of tax
Foreign currency translation
Net investment
hedges (2)
Total, net of taxBefore taxTaxTotal, net of taxBefore taxTaxTotal, net of tax
Before tax
Tax (3)
Before taxTax
Balance, December 31, 2019$(186)$54 $(2)$(5)$(139)$— $— $— $(7)$(45)$(52)$(191)
Other comprehensive income (loss) ("OCI") before reclassifications
197 (7)(182)42 50 — — — 6 (1)5 55 
Amounts reclassified to net income (4)
— — — — — — — — 4 14 18 18 
OCI for the period197 (7)(182)42 50 — — — 10 13 23 73 
Balance, December 31, 2020$11 $47 $(184)$37 $(89)$— $— $— $3 $(32)$(29)$(118)
OCI before reclassifications(287)20 275 (65)(57)(15)4 (11)265 (62)203 135 
Amounts reclassified to net income (4) (5)
— — — — — 15 (4)11 (265)93 (172)(161)
OCI for the period(287)20 275 (65)(57)— — — — 31 31 (26)
Balance, December 31, 2021$(276)$67 $91 $(28)$(146)$— $— $— $3 $(1)$2 $(144)
OCI before reclassifications(303)26 219 (53)(111)— — — (13)3 (10)(121)
Amounts reclassified to
net income (4)
— — — — — — — — (3)1 (2)(2)
OCI for the period(303)26 219 (53)(111)— — — (16)4 (12)(123)
Balance, December 31, 2022$(579)$93 $310 $(81)$(257)$— $— $— $(13)$3 $(10)$(267)
(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 December 31, 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 Notes 2 and 12).
(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 Tax Act.
(4)    The reclassified net gains (losses) on available-for-sale securities, before tax, are included in "Other income (expense), net" and the reclassified tax (expenses) benefits are included in "Income tax expense" in the Consolidated Statements of Operations. The cost of marketable debt securities sold is determined using a first-in and first-out method. For the years ended December 31, 2021 and 2020, the reclassified tax expenses include a tax expense of $31 million and $15 million, related to the redemption in December 2021 of the Company's investment of $500 million in Trip.com Group convertible senior notes and the maturity in May 2020 of the Company's investment of $250 million in Trip.com Group convertible senior notes, respectively.
(5)    For the year ended December 31, 2021, amounts reclassified to net income includes a gain of $203 million ($265 million before tax) related to the Company's investment in Grab, which was reclassified from available-for-sale debt securities to equity securities with readily determinable fair values (see Note 5).