Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Components of Accumulated Other Comprehensive Income (Loss)

The following tables display the components of accumulated other comprehensive income (loss) (“AOCL”), net of tax, as of and for the years ended December 31, 2022 and 2021 (in millions):


	Cumulative Translation Adjustment		Pension and Postretirement Cost		Derivative Financial Instruments		AOCL
Balance at December 31, 2020	$	(481)	$	(356)	$	(43)	$	(880)
Other comprehensive income (loss) before reclassifications	(94)		46		11		(37)
Amounts reclassified to earnings	—		18		17		35
Net current period other comprehensive income (loss)	(94)		64		28		(2)
Balance at December 31, 2021	$	(575)	$	(292)	$	(15)	$	(882)
Other comprehensive income (loss) before reclassifications	(119)		(25)		20		(124)
Amounts reclassified to earnings	6		8		(19)		(5)
Net current period other comprehensive income (loss)	(113)		(17)		1		(129)
Balance at December 31, 2022	$	(688)	$	(309)	$	(14)	$	(1,011)

Schedule of Reclassifications from AOCL to Results of Operations

Reclassifications from AOCL to the results of operations for the years ended December 31, were pre-tax (income) expense of (in millions):


	2022		2021		2020
Cumulative translation adjustment (1)	$	6	$	—	$	—
Pension and postretirement benefit plans (2)	13		23		72
Derivative financial instruments (3)	(21)		23		(6)

(1)See Footnote 2 for further information.

(2)See Footnote 11 for further information.

(3)See Footnote 10 for further information.

Schedule of Income Tax Provision (Benefit) Allocated to Components of AOCL

The income tax provision (benefit) allocated to the components of AOCL for the years ended December 31, are as follows (in millions):


	2022		2021		2020
Foreign currency translation adjustments	$	2	$	20	$	(28)
Unrecognized pension and postretirement costs	(10)		20		23
Derivative financial instruments	1		9		(1)
Income tax provision (benefit) related to AOCL	$	(7)	$	49	$	(6)