XML 54 R34.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Shareholders' Equity (Deficit) (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
Equity [Abstract] |
Schedule of Share Repurchase Activity | The following table summarizes the Company’s share repurchase activity (in millions, except per share data):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Shares repurchased | 0.8 |  |  | 1.8 |  |  |  |  |
Average price per share | $ | 310.56 |  |  | $ | 305.31 |  |  |  |  |
Repurchase costs recorded to accumulated deficit | $ | 250 |  |  | $ | 550 |  |  |  |  |
Schedule of Components of Weighted Average Number of Shares Outstanding | Weighted average ordinary shares outstanding are as follows (in millions):
| Three Months Ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Basic weighted average ordinary shares outstanding | 199.1 |  |  | 206.1 |  |  |  |  |
Dilutive effect of potentially issuable shares | 1.0 |  |  | 1.0 |  |  |  |  |
Diluted weighted average ordinary shares outstanding | 200.1 |  |  | 207.1 |  |  |  |  |
Schedule of Components of Accumulated Other Comprehensive Loss, Net of Related Tax | Changes in Accumulated other comprehensive loss by component, net of related tax, are as follows (in millions):
| Change in Fair Value of Financial Instruments (1) |  | Foreign Currency Translation Adjustments |  | Postretirement Benefit Obligation (2) |  | Total
Balance at December 31, 2023 | $ | 2 |  |  | $ | (1,584) |  |  | $ | (2,791) |  |  | $ | (4,373) |
Other comprehensive income (loss) before reclassifications, net | 72 |  |  | (132) |  |  | — |  |  | (60) |
Amounts reclassified from accumulated other comprehensive income |  |  |  |  |  |  |
Amounts reclassified from accumulated other comprehensive income | 4 |  |  | — |  |  | 35 |  |  | 39 |
Tax expense | (1) |  |  | — |  |  | (9) |  |  | (10) |
Amounts reclassified from accumulated other comprehensive income, net | 3 |  |  | — |  |  | 26 |  |  | 29 |
Net current period other comprehensive income (loss) | 75 |  |  | (132) |  |  | 26 |  |  | (31) |
Balance at March 31, 2024 | $ | 77 |  |  | $ | (1,716) |  |  | $ | (2,765) |  |  | $ | (4,404) |
| Change in Fair Value of Financial Instruments (1) |  | Foreign Currency Translation Adjustments |  | Postretirement Benefit Obligation (2) |  | Total
Balance at December 31, 2022 | $ | (11) |  |  | $ | (1,861) |  |  | $ | (2,751) |  |  | $ | (4,623) |
Other comprehensive income (loss) before reclassifications, net | — |  |  | 54 |  |  | (1) |  |  | 53 |
Amounts reclassified from accumulated other comprehensive income |  |  |  |  |  |  |
Amounts reclassified from accumulated other comprehensive income | 5 |  |  | — |  |  | 32 |  |  | 37 |
Tax expense | (2) |  |  | — |  |  | (9) |  |  | (11) |
Amounts reclassified from accumulated other comprehensive income, net | 3 |  |  | — |  |  | 23 |  |  | 26 |
Net current period other comprehensive income (loss) | 3 |  |  | 54 |  |  | 22 |  |  | 79 |
Balance at March 31, 2023 | $ | (8) |  |  | $ | (1,807) |  |  | $ | (2,729) |  |  | $ | (4,544) |
(1)Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Total revenue, Interest expense, and Compensation and benefits in the Condensed Consolidated Statements of Income. Refer to Note 13 “Derivatives and Hedging” for further information regarding the Company’s derivative and hedging activity. (2)Reclassifications from this category included in Accumulated other comprehensive loss are recorded in Other income (expense) in the Condensed Consolidated Statements of Income.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for repurchase agreements. + References No definition available. + Details
Name: | us-gaap_ScheduleOfRepurchaseAgreements
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfWeightedAverageNumberOfSharesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration