Accumulated Other Comprehensive Loss

12 Months Ended

Dec. 31, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

The changes in the components of accumulated other comprehensive loss, net of taxes, were as follows:

	Currency Translation Adjustment(1)		Pension Liability Adjustment(2)		Cash Flow Hedge Adjustment(3)		Total
	(in millions)
Balance as of December 31, 2020	$	(511)	$	(289)	$	(60)	$	(860)
Other comprehensive income (loss) before reclassifications	(36)		68		11		43
Amounts reclassified from accumulated other comprehensive loss	7		11		20		38
Net other comprehensive income (loss) for the period	(29)		79		31		81
Balance as of December 31, 2021	(540)		(210)		(29)		(779)
Other comprehensive income (loss) before reclassifications	(9)		(57)		114		48
Amounts reclassified from accumulated other comprehensive loss	1		8		16		25
Net other comprehensive income (loss) for the period	(8)		(49)		130		73
Balance as of December 31, 2022	(548)		(259)		101		(706)
Other comprehensive income (loss) before reclassifications	9		(11)		9		7
Amounts reclassified from accumulated other comprehensive loss	—		8		(40)		(32)
Net other comprehensive income (loss) for the period	9		(3)		(31)		(25)
Balance as of December 31, 2023	$	(539)	$	(262)	$	70	$	(731)

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(1)Includes net investment hedge gains and intra-entity foreign currency transactions that are of a long-term investment nature. Amounts reclassified relate to the liquidation of investments in foreign entities which were recognized in our consolidated statements of operations in gain on foreign currency transactions during the year ended December 31, 2022 and in loss on sales of assets, net during the year ended December 31, 2021.

(2)Amounts reclassified relate to the amortization of prior service cost and amortization of net loss and were recognized in other non-operating income, net in our consolidated statements of operations.

(3)Amounts reclassified were the result of hedging instruments, including: (a) interest rate swaps, inclusive of interest rate swaps that were dedesignated in prior periods, with related amounts recognized in interest expense in our consolidated statements of operations and (b) forward contracts that hedge our foreign currency denominated fees, with related amounts recognized in various revenue line items, as applicable, in our consolidated statements of operations.