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CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT (Details) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Total AOCI, net of tax    
Balance $ 2,782 $ 6,178
Total other comprehensive income (loss), net of tax 0 (39)
Balance 1,074 4,373
Foreign currency translation    
Before tax    
Balance (579) (276)
OCI for the period 105 (135)
Balance (474) (411)
Tax (expense) benefit    
Balance [1] 93 67
OCI for the period [1] (21) 7
Balance [1] 72 74
Net Investment Hedges    
Before tax    
Balance [2] 310 91
OCI for the period [2] (113) 117
Balance [2] 197 208
Tax (expense) benefit    
Balance [2] (81) (28)
OCI for the period [2] 27 (27)
Balance [2] (54) (55)
Foreign currency translation adjustments    
Total AOCI, net of tax    
Balance (257) (146)
Total other comprehensive income (loss), net of tax (2) (38)
Balance (259) (184)
Foreign currency translation adjustments | Net Investment Hedging | Foreign Currency Forward    
Before tax    
Balance (53) (53)
Balance (53) (53)
Total AOCI, net of tax    
Balance (35) (35)
Balance (35) (35)
Net unrealized gains (losses) on available-for-sale securities    
Before tax    
Balance (13) 3
OCI for the period 3 (1)
Balance (10) 2
Tax (expense) benefit    
Balance 3 (1)
OCI for the period (1) 0
Balance 2 (1)
Total AOCI, net of tax    
Balance (10) 2
Total other comprehensive income (loss), net of tax 2 (1)
Balance (8) 1
Total AOCI    
Total AOCI, net of tax    
Balance (267) (144)
Balance $ (267) $ (183)
[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 March 31, 2023 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).