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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Jun. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Impact of Derivative Financial Instruments The following table summarizes the Company’s derivative financial instruments recorded on its consolidated balance sheets (in millions).
June 30, 2025December 31, 2024
Fair ValueFair Value
NotionalPrepaid expenses and other current assetsOther non-
current assets		Accounts payable and accrued liabilitiesOther non-
current liabilities		NotionalPrepaid expenses and other current assetsOther non-
current assets		Accounts payable and accrued liabilitiesOther non-
current liabilities
Cash flow hedges:
Foreign exchange$2,363 $54 $84 $60 $41 $1,608 $47 $14 $25 $28 
Net investment hedges: (a)
Cross-currency swaps461 7 — — 15 421 6 — — 4 
No hedging designation:
Foreign exchange358 6 2 14 76 951 18 7 14 122 
Cross-currency swaps230 4 — — 10 210 2 — — 1 
Interest rate swaps2,500 — — 3 — — — — — — 
Total return swaps477 17 — — — 454 — — 16 — 
Total$88 $86 $77 $142 $73 $21 $55 $155 
(a) Excludes €697 million and €1,500 million of euro-denominated notes ($818 million and $1,558 million equivalent) at June 30, 2025 and December 31, 2024, respectively, designated as a net investment hedge. (See Note 8.)
Schedule of Pre-Tax Impact of Derivatives Designated as Cash Flow Hedges
The following table presents the pre-tax impact of derivatives designated as cash flow hedges on income and other comprehensive loss (in millions).
 Three Months Ended June 30,Six Months Ended June 30,
 2025202420252024
Gains (losses) recognized in accumulated other comprehensive loss:
Foreign exchange - derivative adjustments
$28 $15 $42 $31 
Gains (losses) reclassified into income from accumulated other comprehensive loss:
Foreign exchange - distribution revenue
(5)1 (1)3 
Foreign exchange - costs of revenues
1 (4)1 7 
Interest rate - interest expense, net(1)(1)(2)(2)
Interest rate - loss on extinguishment of debt(1)(4)(1)(4)
Interest rate - other income, net
— 5 14 5 
Schedule of Pre-Tax Impact of Derivatives Designated as Net Investment Hedges on Other Comprehensive Loss
The following table presents the pre-tax impact of derivatives and other instruments designated as net investment hedges on other comprehensive loss (in millions). Other than amounts excluded from effectiveness testing, there were no other material gains (losses) reclassified from accumulated other comprehensive loss to income during the three and six months ended June 30, 2025 and 2024.
Three Months Ended June 30,
Amount of gain (loss) recognized in AOCILocation of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing)Amount of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing)
2025202420252024
Cross currency swaps$(8)$14 Interest expense, net$3 $6 
Euro-denominated notes (foreign denominated debt)(148)21 N/A— — 
Total$(156)$35 $3 $6 
Six Months Ended June 30,
Amount of gain (loss) recognized in AOCILocation of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing)Amount of gain (loss) recognized in income on derivative (amount excluded from effectiveness testing)
2025202420252024
Cross currency swaps$(12)$39 Interest expense, net$6 $12 
Euro-denominated notes (foreign denominated debt)(208)21 N/A— — 
Sterling notes (foreign denominated debt)— 4 N/A— — 
Total$(220)$64 $6 $12 
Schedule of Pre-Tax Impact of Derivatives Not Designated as Hedges on Statements of Operations
The following table presents the pretax gains (losses) on derivatives not designated as hedges and recognized in selling, general and administrative expense and other income, net in the consolidated statements of operations (in millions).
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Interest rate swaps$(3)$7 $(2)$28 
Total return swaps31 1 20 20 
Total in selling, general and administrative expense28 8 18 48 
Interest rate swaps— (5)— (3)
Cross-currency swaps(6)— (7)— 
Foreign exchange derivatives 25 (17)34 (25)
Total in other income, net
19 (22)27 (28)
Total$47 $(14)$45 $20