Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Jun. 30, 2023

Equity [Abstract]

Changes in accumulated other comprehensive loss by component, net of income taxes

Changes in accumulated other comprehensive loss by component, net of income taxes, consisted of the following:

(In millions)	Derivatives		Foreign Currency Translation		Pension Plans		Total
Three Months Ended June 30, 2023
Balance at March 31, 2023	$	(95)	$	(939)	$	(20)	$	(1,054)
Other comprehensive income before reclassifications	1		150		—		151
Amounts reclassified from accumulated other comprehensive loss	3		—		—		3
Net current-period other comprehensive income	4		150		—		154
Balance at June 30, 2023	$	(91)	$	(789)	$	(20)	$	(900)
Three Months Ended June 30, 2022
Balance at March 31, 2022	$	(105)	$	(572)	$	37	$	(640)
Other comprehensive loss before reclassifications	(6)		(361)		(2)		(369)
Amounts reclassified from accumulated other comprehensive loss	4		—		—		4
Net current-period other comprehensive loss	(2)		(361)		(2)		(365)
Balance at June 30, 2022	$	(107)	$	(933)	$	35	$	(1,005)
Six Months Ended June 30, 2023
Balance at December 31, 2022	$	(103)	$	(1,064)	$	(22)	$	(1,189)
Other comprehensive income before reclassifications	6		275		2		283
Amounts reclassified from accumulated other comprehensive loss	6		—		—		6
Net current-period other comprehensive income	12		275		2		289
Balance at June 30, 2023	$	(91)	$	(789)	$	(20)	$	(900)
Six Months Ended June 30, 2022
Balance at December 31, 2021	$	(107)	$	(676)	$	38	$	(745)
Other comprehensive loss before reclassifications	(7)		(257)		(3)		(267)
Amounts reclassified from accumulated other comprehensive loss	7		—		—		7
Net current-period other comprehensive loss	—		(257)		(3)		(260)
Balance at June 30, 2022	$	(107)	$	(933)	$	35	$	(1,005)

Disclosure of derivative terms

The following table outlines the terms of the Company’s Euro cross-currency rate swap contracts at June 30, 2023:

Effective Date of Contract	Maturity Date of Contract	Notional Amount (EUR)		Fixed Rate Paid (EUR)		Fixed Rate Received (USD)
September 1, 2022	June 1, 2025	80	million	2.096	%	3.85	%
September 15, 2022	July 1, 2026	80	million	1.635	%	3.20	%
October 6, 2022	June 1, 2025	80	million	1.922	%	3.85	%
October 27, 2022	July 1, 2026	80	million	1.458	%	3.20	%
November 10, 2022	June 1, 2025	80	million	1.816	%	3.85	%

Schedule of net investment hedges in accumulated other comprehensive income (loss)

Foreign currency transaction (losses) gains, net of income tax, related to net investment hedges that were recorded in other comprehensive income (loss) in the consolidated statements of comprehensive income were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(In millions)	2023		2022		2023		2022
Cross-currency rate swap contracts	$	(5)	$	—	$	(7)	$	—
Foreign currency-denominated debt	(50)		181		(114)		248