Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2025

Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three and six months ended June 30, 2025:


	Three Months						Six Months
(in millions)	Before Tax Amount		Tax Effect		Net of Tax Amount		Before Tax Amount		Tax Effect		Net of Tax Amount
Foreign currency translation adjustments:
Beginning balance	$	(164)	$	13	$	(151)	$	(261)	$	7	$	(254)
Change in foreign currency translation adjustments	204		(7)		197		301		(1)		300
Ending balance	$	40	$	6	$	46	$	40	$	6	$	46
Unrealized gains and losses on cash flow hedges:
Beginning balance	$	4	$	(1)	$	3	$	(34)	$	9	$	(25)
Unrealized gains arising during the period	14		(3)		11		44		(11)		33
Reclassifications of net gains and losses to:
Cost of revenues	(1)		—		(1)		6		(1)		5
SG&A expenses	—		—		—		1		(1)		—
Net change	13		(3)		10		51		(13)		38
Ending balance	$	17	$	(4)	$	13	$	17	$	(4)	$	13
Gains and (losses) on defined benefit plans:
Beginning balance	$	(20)	$	3	$	(17)	$	(20)	$	3	$	(17)
Amortization of loss on defined benefit plans	1		—		1		1		—		1
Ending balance	$	(19)	$	3	$	(16)	$	(19)	$	3	$	(16)
Accumulated other comprehensive income (loss):
Beginning balance	$	(180)	$	15	$	(165)	$	(315)	$	19	$	(296)
Other comprehensive income (loss)	218		(10)		208		353		(14)		339
Ending balance	$	38	$	5	$	43	$	38	$	5	$	43

Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three and six months ended June 30, 2024:


	Three Months						Six Months
(in millions)	Before Tax Amount		Tax Effect		Net of Tax Amount		Before Tax Amount		Tax Effect		Net of Tax Amount
Foreign currency translation adjustments:
Beginning balance	$	(183)	$	6	$	(177)	$	(109)	$	5	$	(104)
Change in foreign currency translation adjustments	(3)		2		(1)		(77)		3		(74)
Ending balance	$	(186)	$	8	$	(178)	$	(186)	$	8	$	(178)
Unrealized gains and losses on cash flow hedges:
Beginning balance	$	28	$	(7)	$	21	$	13	$	(3)	$	10
Unrealized gains arising during the period	13		(3)		10		28		(7)		21
Reclassifications of net gains to:
Cost of revenues	(3)		1		(2)		(3)		1		(2)
SG&A expenses	(1)		—		(1)		(1)		—		(1)
Net change	9		(2)		7		24		(6)		18
Ending balance	$	37	$	(9)	$	28	$	37	$	(9)	$	28
Accumulated other comprehensive income (loss):
Beginning balance	$	(155)	$	(1)	$	(156)	$	(96)	$	2	$	(94)
Other comprehensive income (loss)	6		—		6		(53)		(3)		(56)
Ending balance	$	(149)	$	(1)	$	(150)	$	(149)	$	(1)	$	(150)