Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Mar. 31, 2025

Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three months ended March 31, 2025:



(in millions)	Before Tax Amount		Tax Effect		Net of Tax Amount
Foreign currency translation adjustments:
Beginning balance	$	(261)	$	7	$	(254)
Change in foreign currency translation adjustments	97		6		103
Ending balance	$	(164)	$	13	$	(151)
Unrealized gains and losses on cash flow hedges:
Beginning balance	$	(34)	$	9	$	(25)
Unrealized gains arising during the period	30		(8)		22
Reclassifications of net losses to:
Cost of revenues	7		(2)		5
SG&A expenses	1		—		1
Net change	38		(10)		28
Ending balance	$	4	$	(1)	$	3
Losses on defined benefit plans:
Beginning balance	$	(20)	$	3	$	(17)
Losses on defined benefit plans	—		—		—
Ending balance	$	(20)	$	3	$	(17)
Accumulated other comprehensive income (loss):
Beginning balance	$	(315)	$	19	$	(296)
Other comprehensive income (loss)	135		(4)		131
Ending balance	$	(180)	$	15	$	(165)

Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three months ended March 31, 2024:



(in millions)	Before Tax Amount		Tax Effect		Net of Tax Amount
Foreign currency translation adjustments:
Beginning balance	$	(109)	$	5	$	(104)
Change in foreign currency translation adjustments	(74)		1		(73)
Ending balance	$	(183)	$	6	$	(177)
Unrealized gains and losses on cash flow hedges:
Beginning balance	$	13	$	(3)	$	10
Unrealized gains arising during the period	15		(4)		11




Ending balance	$	28	$	(7)	$	21
Accumulated other comprehensive income (loss):
Beginning balance	$	(96)	$	2	$	(94)
Other comprehensive income (loss)	(59)		(3)		(62)
Ending balance	$	(155)	$	(1)	$	(156)