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Accumulated other comprehensive income (loss)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss)
The Company reports activity in Accumulated other comprehensive income (loss) (“AOCI”) for foreign currency translation adjustments and unrealized gains and losses on interest rate and foreign currency hedges. Activity within AOCI is as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2024202320242023
Foreign currency translation adjustments:
Balance at beginning of period$(210)$(196)$(149)$(227)
Foreign currency translation adjustments(12)19 (86)49 
Amounts allocated to Noncontrolling interests and Redeemable noncontrolling interests2 (2)10 (5)
Reallocation due to change in Noncontrolling interest ownership percentage1 (1)6 3 
Balance at end of period$(219)$(180)$(219)$(180)
Derivatives:
Balance at beginning of period$113 $153 $115 $190 
Unrealized gain (loss) on foreign currency hedges10 50 39 34 
Net amount reclassified from AOCI to net income (loss)(23)(29)(49)(54)
Tax effect— (1)— 1 
Amounts allocated to Noncontrolling interests and Redeemable noncontrolling interests1 (2)1 2 
Reallocation due to change in Noncontrolling interest ownership percentage(1)1 (6)(1)
Balance at end of period$100 $172 $100 $172 
Accumulated other comprehensive income (loss)$(119)$(8)$(119)$(8)