COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Sep. 30, 2023

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated other comprehensive income (loss) ("AOCI"), net of tax, by component for the nine months ended September 30, 2023 and 2022 were as follows:



(in millions)	Foreign Currency Translation Gain (Loss)		Gain (Loss) on Cash Flow Hedges		Gain (Loss) on Net Investment and Fair Value Hedges		Pension Liability Gain (Loss)		Total

Balance, net of tax, at December 31, 2022	$	(522)	$	(17)	$	(73)	$	(16)	$	(628)
Other comprehensive income (loss) before reclassifications and tax impact	6		(1)		—		—		5
Tax benefit	9		—		—		—		9
Other comprehensive income (loss), net of tax, before reclassifications	15		(1)		—		—		14
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		—		—		—		—
Net increase (decrease) in other comprehensive income	15		(1)		—		—		14


Balance, net of tax, at March 31, 2023	$	(507)	$	(18)	$	(73)	$	(16)	$	(614)
Other comprehensive loss before reclassifications and tax impact	(3)		—		(11)		—		(14)
Tax benefit	3		—		3		—		6
Other comprehensive loss, net of tax, before reclassifications	—		—		(8)		—		(8)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		2		—		—		2
Net increase (decrease) in other comprehensive income	—		2		(8)		—		(6)


Balance, net of tax, at June 30, 2023	$	(507)	$	(16)	$	(81)	$	(16)	$	(620)
Other comprehensive (loss) income before reclassifications and tax impact	(60)		1		33		—		(26)
Tax expense	(4)		—		(8)		—		(12)
Other comprehensive (loss) benefit, net of tax, before reclassifications	(64)		1		25		—		(38)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		1		—		—		1
Net (decrease) increase in other comprehensive income	(64)		2		25		—		(37)


Balance, net of tax, at September 30, 2023	$	(571)	$	(14)	$	(56)	$	(16)	$	(657)


(in millions)	Foreign Currency Translation Gain (Loss)		Gain (Loss) on Cash Flow Hedges		Gain (Loss) on Net Investment and Fair Value Hedges		Pension Liability Gain (Loss)		Total

Balance, net of tax, at December 31, 2021	$	(366)	$	(16)	$	(103)	$	(107)	$	(592)
Other comprehensive (loss) income before reclassifications and tax impact	(37)		3		9		—		(25)
Tax expense	(11)		—		(1)		—		(12)
Other comprehensive (loss) income, net of tax, before reclassifications	(48)		3		8		—		(37)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		(1)		—		1		—
Net (decrease) increase in other comprehensive income	(48)		2		8		1		(37)
Balance, net of tax, at March 31, 2022	$	(414)	$	(14)	$	(95)	$	(106)	$	(629)
Other comprehensive (loss) income before reclassifications and tax impact	(86)		(3)		32		—		(57)
Tax expense	(28)		—		(8)		—		(36)
Other comprehensive (loss) income, net of tax, before reclassifications	(114)		(3)		24		—		(93)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		1		—		2		3
Net (decrease) increase in other comprehensive income	(114)		(2)		24		2		(90)

Balance, net of tax, at June 30, 2022	$	(528)	$	(16)	$	(71)	$	(104)	$	(719)
Other comprehensive (loss) income before reclassifications and tax impact	(120)		3		28		—		(89)
Tax expense	(28)		(1)		(7)		—		(36)
Other comprehensive (loss) income, net of tax, before reclassifications	(148)		2		21		—		(125)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		(1)		—		1		—
Net (decrease) increase in other comprehensive income	(148)		1		21		1		(125)
Balance, net of tax, at September 30, 2022	$	(676)	$	(15)	$	(50)	$	(103)	$	(844)