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Accumulated Other Comprehensive Income (Loss) | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Loss The following table provides the components of accumulated other comprehensive loss ("AOCL") for the nine months ended September 30, 2025:
(in millions) | Foreign Currency Translation |  | Post-retirement Benefit Plans |  | Derivative Instruments |  | Total
Balance at January 1, 2025 | $ | (368) |  |  | $ | (53) |  |  | $ | (14) |  |  | $ | (435) |
Foreign currency translation adjustment | 56 |  |  | — |  |  | — |  |  | 56 |
Amount of currency translation adjustment relating to divestiture of foreign subsidiaries reclassified into net income | 8 |  |  | — |  |  | — |  |  | 8 |
Tax on foreign currency translation adjustment | 20 |  |  | — |  |  | — |  |  | 20 |
Foreign currency translation adjustment for post-retirement benefit plans | — |  |  | (1) |  |  | — |  |  | (1) |
Unrealized gain on derivative hedge agreements | — |  |  | — |  |  | 15 |  |  | 15 |
Income tax benefit on unrealized gain on derivative hedge agreements | — |  |  | — |  |  | (2) |  |  | (2) |
Reclassification of unrealized loss on foreign exchange agreements into revenue | — |  |  | — |  |  | 3 |  |  | 3 |
Reclassification of unrealized gain on foreign exchange agreements into cost of revenue | — |  |  | — |  |  | (1) |  |  | (1) |
Balance at March 31, 2025 | $ | (284) |  |  | $ | (54) |  |  | $ | 1 |  |  | $ | (337) |
Foreign currency translation adjustment | 37 |  |  | — |  |  | — |  |  | 37 |
Tax on foreign currency translation adjustment | 65 |  |  | — |  |  | — |  |  | 65 |
Amortization of actuarial loss on post-retirement benefit plans into other non-operating income, net | — |  |  | 1 |  |  | — |  |  | 1 |
Foreign currency translation adjustment for post-retirement benefit plans | — |  |  | (2) |  |  | — |  |  | (2) |
Unrealized gain on derivative hedge agreements | — |  |  | — |  |  | 15 |  |  | 15 |
Income tax benefit on unrealized gain on derivative hedge agreements | — |  |  | — |  |  | (2) |  |  | (2) |
Reclassification of unrealized loss on foreign exchange agreements into revenue | — |  |  | — |  |  | 2 |  |  | 2 |
Reclassification of unrealized gain on foreign exchange agreements into cost of revenue | — |  |  | — |  |  | (1) |  |  | (1) |
Balance at June 30, 2025 | $ | (182) |  |  | $ | (55) |  |  | $ | 15 |  |  | $ | (222) |
Foreign currency translation adjustment | (6) |  |  | — |  |  | — |  |  | (6) |
Tax on foreign currency translation adjustment | (3) |  |  | — |  |  | — |  |  | (3) |
Foreign currency translation adjustment for post-retirement benefit plans | — |  |  | 1 |  |  | — |  |  | 1 |
Unrealized gain on derivative hedge agreements | — |  |  | — |  |  | 1 |  |  | 1 |
Income tax impact on unrealized gain on derivative hedge agreements | — |  |  | — |  |  | 1 |  |  | 1 |
Reclassification of unrealized gain on foreign exchange agreements into revenue | — |  |  | — |  |  | (3) |  |  | (3) |
Reclassification of unrealized gain on foreign exchange agreements into cost of revenue | — |  |  | — |  |  | (2) |  |  | (2) |
Balance at September 30, 2025 | $ | (191) |  |  | $ | (54) |  |  | $ | 12 |  |  | $ | (233) |
The following table provides the components of AOCL for the nine months ended September 30, 2024:
(in millions) | Foreign Currency Translation |  | Post-retirement Benefit Plans |  | Derivative Instruments |  | Total
Balance at January 1, 2024 | $ | (196) |  |  | $ | (72) |  |  | $ | (1) |  |  | $ | (269) |
Foreign currency translation adjustment | (65) |  |  | — |  |  | — |  |  | (65) |
Tax on foreign currency translation adjustment | (10) |  |  | — |  |  | — |  |  | (10) |
Income tax impact on amortization of post-retirement benefit plan items | — |  |  | (1) |  |  | — |  |  | (1) |
Foreign currency translation adjustment for post-retirement benefit plans | — |  |  | 2 |  |  | — |  |  | 2 |
Unrealized loss on derivative hedge agreements | — |  |  | — |  |  | (3) |  |  | (3) |
Reclassification of unrealized loss on foreign exchange agreements into cost of revenue | — |  |  | — |  |  | 1 |  |  | 1 |
Balance at March 31, 2024 | $ | (271) |  |  | $ | (71) |  |  | $ | (3) |  |  | $ | (345) |
Foreign currency translation adjustment | 6 |  |  | — |  |  | — |  |  | 6 |
Tax on foreign currency translation adjustment | (5) |  |  | — |  |  | — |  |  | (5) |
Reclassification of unrealized gain on foreign exchange agreements into revenue | — |  |  | — |  |  | (1) |  |  | (1) |
Balance at June 30, 2024 | $ | (270) |  |  | $ | (71) |  |  | $ | (4) |  |  | $ | (345) |
Foreign currency translation adjustment | 97 |  |  | — |  |  | — |  |  | 97 |
Tax on foreign currency translation adjustment | 14 |  |  | — |  |  | — |  |  | 14 |
Foreign currency translation adjustment for post-retirement benefit plans | — |  |  | (2) |  |  | — |  |  | (2) |
Unrealized gain on derivative hedge agreements | — |  |  | — |  |  | 3 |  |  | 3 |
Income tax impact on unrealized gain on derivative hedge agreements | — |  |  | — |  |  | (1) |  |  | (1) |
Reclassification of unrealized loss on foreign exchange agreements into revenue | — |  |  | — |  |  | 1 |  |  | 1 |
Reclassification of unrealized loss on foreign exchange agreements into cost of revenue | — |  |  | — |  |  | 1 |  |  | 1 |
Balance at September 30, 2024 | $ | (159) |  |  | $ | (73) |  |  | $ | — |  |  | $ | (232) |

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