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Equity (Tables)
3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Schedule of Treasury Stock by Class
The table below presents a summary of common stock repurchases (in millions).
 
 
Three Months Ended March 31,
 
 
2018
 
2017
Series C Common Stock:
 
 
 
 
Shares repurchased
 

 
5.2

Purchase price
 
$

 
$
140


Schedule of Preferred Stock Repurchase
The table below presents a summary of Series C and Series C-1 convertible preferred stock repurchases made under the repurchase agreement (in millions).
 
Three Months Ended March 31,
 
2018
 
2017
Series C Convertible Preferred Stock:
 
 
 
Shares repurchased

 
1.2

Purchase price
$

 
$
60

Series C-1 Convertible Preferred Stock:
 
 
 
Shares repurchased

 

Purchase price
$

 
$

Components of Other Comprehensive Income (Loss)
The table below presents the tax effects related to each component of other comprehensive income (loss) and reclassifications made in the consolidated statements of operations (in millions).
 
Three Months Ended March 31, 2018
 
Three Months Ended March 31, 2017
 

Pretax
 
Tax
Benefit (Expense)
 

Net-of-tax
 

Pretax
 
Tax
Benefit (Expense)
 

Net-of-tax
Currency translation adjustments:
 
 
 
 
 
 
 
 
 
 
 
Unrealized gains (losses)

 
 
 
 
 
 
 
 
 
 
 
  Foreign currency
$
71

 
$
7

 
$
78

 
$
71

 
$
1

 
$
72

  Net investment hedges
(75
)
 

 
(75
)
 
(4
)
 

 
(4
)
Total currency translation adjustments
(4
)
 
7

 
3

 
67

 
1

 
68

 
 
 
 
 
 
 
 
 
 
 
 
AFS adjustments:(a)
 
 
 
 
 
 
 
 
 
 
 
Unrealized losses

 

 

 
(1
)
 

 
(1
)
Total equity investment adjustments

 

 

 
(1
)
 

 
(1
)
 
 
 
 
 
 
 
 
 
 
 
 
Derivative adjustments:
 
 
 
 
 
 
 
 
 
 
 
Unrealized (losses) gains

(10
)
 
3

 
(7
)
 
(13
)
 
5

 
(8
)
Reclassifications:
 
 
 
 
 
 
 
 
 
 
 
Distribution revenue

 

 

 
3

 
(1
)
 
2

Advertising revenue
(1
)
 

 
(1
)
 

 

 

Costs of revenues
4

 
(1
)
 
3

 
(4
)
 
1

 
(3
)
Interest expense

 

 

 
1

 

 
1

Total derivative adjustments
(7
)
 
2

 
(5
)
 
(13
)
 
5

 
(8
)
Other comprehensive (loss) income
$
(11
)
 
$
9

 
$
(2
)
 
$
53

 
$
6

 
$
59

(a) Effective January 1, 2018, upon adoption of ASU 2016-01, unrealized gains and losses on equity investments with readily determinable fair values are recorded in other expense, net. The Company recorded a transition adjustment to reclassify prior period amounts in other comprehensive income to retained earnings. (See Note 1 and Note 3.)
Schedule of Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss
The table below presents the changes in the components of accumulated other comprehensive loss, net of taxes (in millions).
 
Three Months Ended March 31, 2018
 
Currency Translation
 
AFS(a)
 
Derivatives
 
 
Accumulated
Other
Comprehensive Loss
Beginning balance
$
(615
)
 
$
26

 
$
4

 
 
$
(585
)
Other comprehensive income (loss) before reclassifications
3

 

 
(7
)
 
 
(4
)
Reclassifications from accumulated other comprehensive loss to net income

 

 
2

 
 
2

Other comprehensive income (loss)
3

 

 
(5
)
 
 
(2
)
Reclassifications to retained earnings resulting from the adoption of ASU 2016-01

 
(26
)
 

 
 
(26
)
Ending balance
$
(612
)
 
$

 
$
(1
)
 
 
$
(613
)
 
Three Months Ended March 31, 2017
 
Currency Translation
 
AFS(a)
 
Derivatives
 
Accumulated
Other
Comprehensive Loss
Beginning balance
$
(797
)
 
$
11

 
$
24

 
$
(762
)
Other comprehensive income (loss)
68

 
(1
)
 
(8
)
 
59

Other comprehensive income attributable to redeemable noncontrolling interests
(1
)
 

 

 
(1
)
Ending balance
$
(730
)
 
$
10

 
$
16

 
$
(704
)
(a) Effective January 1, 2018, unrealized gains and losses on equity investments with readily determinable fair values are recorded in other expense, net. (See Note 1 and Note 3.)