11. Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) are as follows (in millions):


	Currency Translation Adjustments			Derivative Financial Instruments, Net of Tax			Defined Benefit Plans, Net of Tax			Total
Balance at December 31, 2014	$	(515	)	$	(228	)	$	(91	)	$	(834	)

Accumulated other comprehensive income (loss) before reclassifications		(764	)		(176	)		26			(914	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			199			(4	)		195

Balance at December 31, 2015	$	(1,279	)	$	(205	)	$	(69	)	$	(1,553	)

Accumulated other comprehensive income (loss) before reclassifications		(97	)		32			35			(30	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			134			(3	)		131

Balance at December 31, 2016	$	(1,376	)	$	(39	)	$	(37	)	$	(1,452	)

Accumulated other comprehensive income (loss) before reclassifications		272			41			25			338
Amounts reclassified from accumulated other comprehensive income (loss)		—			5			(1	)		4

Balance at December 31, 2017	$	(1,104	)	$	7		$	(13	)	$	(1,110	)

The components of amounts reclassified from accumulated other comprehensive income (loss) are as follows (in millions):


	Years Ended December 31,
	2017											2016											2015
	Currency Translation Adjustments		Derivative Financial Instruments			Defined Benefit Plans			Total			Currency Translation Adjustments		Derivative Financial Instruments			Defined Benefit Plans			Total			Currency Translation Adjustments		Derivative Financial Instruments			Defined Benefit Plans			Total
Revenue	$	—	$	(8	)	$	—		$	(8	)	$	—	$	(5	)	$	—		$	(5	)	$	—	$	(19	)	$	—		$	(19	)
Cost of revenue		—		12			—			12			—		191			—			191			—		295			—			295
Selling, general, and administrative		—		—			(1	)		(1	)		—		—			(5	)		(5	)		—		—			(6	)		(6	)
Tax effect		—		1			—			1			—		(52	)		2			(50	)		—		(77	)		2			(75	)

	$	—	$	5		$	(1	)	$	4		$	—	$	134		$	(3	)	$	131		$	—	$	199		$	(4	)	$	195

The Company’s reporting currency is the U.S. dollar. A majority of the Company’s international entities in which there is a substantial investment have the local currency as their functional currency. As a result, currency translation adjustments resulting from the process of translating the entities’ financial statements into the reporting currency are reported in other comprehensive income or loss in accordance with ASC Topic 830 “Foreign Currency Matters” (“ASC Topic 830”). For the year ended December 31, 2017, a majority of these local currencies strengthened against the U.S. dollar, resulting in net other comprehensive income of $272 million upon the translation from local currencies to the U.S. dollar. For the years ended December 31, 2016 and 2015, a majority of these local currencies weakened against the U.S. dollar, resulting in a net other comprehensive loss of $97 million and $764 million, respectively, upon the translation from local currencies to the U.S. dollar.

The effect of changes in the fair values of derivatives designated as cash flow hedges are accumulated in other comprehensive income (loss), net of tax, until the underlying transactions to which they are designed to hedge are realized. The movement in other comprehensive income (loss) from period to period will be the result of the combination of changes in fair value for open derivatives and the outflow of other comprehensive income (loss) related to cumulative changes in the fair value of derivatives that have settled in the current or prior periods. The accumulated effect was other comprehensive income of $46 million (net of tax of $13 million) for the year ended December 31, 2017, other comprehensive income of $166 million (net of tax of $65 million) for the year ended December 31, 2016 and other comprehensive income of $23 million (net of tax of $14 million) for the year ended December 31, 2015.