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CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS BY COMPONENT (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Total AOCI, net of tax        
Balance $ 1,074 $ 4,373 $ 2,782 $ 6,178
Total other comprehensive loss, net of tax (24) (69) (24) (108)
Balance (665) 4,002 (665) 4,002
Foreign currency translation        
Before tax        
Balance (474) (411) (579) (276)
Other comprehensive income (loss) ("OCI") for the period (2) (306) 103 (441)
Balance (476) (717) (476) (717)
Tax (expense) benefit        
Balance [1] 72 74 93 67
Other comprehensive income (loss) ("OCI") for the period [1] 4 38 (17) 45
Balance [1] 76 112 76 112
Net investment hedges        
Before tax        
Balance [2] 197 208 310 91
Other comprehensive income (loss) ("OCI") for the period [2] (34) 262 (147) 379
Balance [2] 163 470 163 470
Tax (expense) benefit        
Balance [2] (54) (55) (81) (28)
Other comprehensive income (loss) ("OCI") for the period [2] 8 (64) 35 (91)
Balance [2] (46) (119) (46) (119)
Foreign currency translation adjustments        
Total AOCI, net of tax        
Balance (259) (184) (257) (146)
Total other comprehensive loss, net of tax (24) (70) (26) (108)
Balance (283) (254) (283) (254)
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)
Net unrealized (losses) gains on available-for-sale securities        
Before tax        
Balance (10) 2 (13) 3
Other comprehensive income (loss) ("OCI") for the period (1) 1 2 0
Balance (11) 3 (11) 3
Tax (expense) benefit        
Balance 2 (1) 3 (1)
Other comprehensive income (loss) ("OCI") for the period 1 0 0 0
Balance 3 (1) 3 (1)
Total AOCI, net of tax        
Balance (8) 1 (10) 2
Total other comprehensive loss, net of tax 0 1 2 0
Balance (8) 2 (8) 2
Total AOCI, net of tax        
Total AOCI, net of tax        
Balance (267) (183) (267) (144)
Balance $ (291) $ (252) $ (291) $ (252)
[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 June 30, 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).