4.	Accumulated Other Comprehensive Income (Loss)

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

				Derivative			Defined
	Currency			Financial			Benefit
	Translation			Instruments,			Plans,
	Adjustments			Net of Tax			Net of Tax			Total
Balance at December 31, 2017	$	(1,104	)	$	7		$	(13	)	$	(1,110	)

Accumulated other comprehensive income (loss) before reclassifications		(225	)		3			—			(222	)

Amounts reclassified from accumulated other comprehensive income (loss)		6			(2	)		—			4
Balance at September 30, 2018	$	(1,323	)	$	8		$	(13	)	$	(1,328	)

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

	Three Months Ended September 30,
	2018										2017
	Currency		Derivative			Defined					Currency		Derivative			Defined
	Translation		Financial			Benefit					Translation		Financial			Benefit
	Adjustments		Instruments			Plans		Total			Adjustments		Instruments			Plans		Total
Revenue	$	—	$	1		$	—	$	1		$	—	$	(2	)	$	—	$	(2	)
Cost of revenue		—		2			—		2			—		4			—		4
Other income (expense), net		6		—			—		6			—		—			—		—
Tax effect		—		(1	)		—		(1	)		—		(1	)		—		(1	)
	$	6	$	2		$	—	$	8		$	—	$	1		$	—	$	1

	Nine Months Ended September 30,
	2018										2017
	Currency		Derivative			Defined					Currency		Derivative			Defined
	Translation		Financial			Benefit					Translation		Financial			Benefit
	Adjustments		Instruments			Plans		Total			Adjustments		Instruments			Plans		Total
Revenue	$	—	$	—		$	—	$	—		$	—	$	(6	)	$	—	$	(6	)
Cost of revenue		—		(3	)		—		(3	)		—		8			—		8
Other income (expense), net		6		—			—		6			—		—			—		—
Tax effect		—		1			—		1			—		1			—		1
	$	6	$	(2	)	$	—	$	4		$	—	$	3		$	—	$	3

The Company’s reporting currency is the U.S. dollar. For a majority of the Company’s international entities in which there is a substantial investment, the local currency is 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 three and nine months ended September 30, 2018, a majority of these local currencies weakened against the U.S. dollar resulting in net other comprehensive losses of $32 million and $219 million, respectively, upon the translation from local currencies to the U.S. dollar. For the three and nine months ended September 30, 2017, a majority of these local currencies strengthened against the U.S. dollar resulting in net other comprehensive income of $124 million and $290 million, respectively, upon the translation from local currencies to the U.S. Due to the sale of a non-core industrial business, $6 million of currency translation losses were reclassified from accumulated other comprehensive income (loss) into other income (expense), net in the Consolidated Statements of Income for the three and nine months ended September 30, 2018.

The effect of changes in the fair values of derivatives designated as cash flow hedges are accumulated in other comprehensive income or loss, net of tax, until the underlying transactions they hedge are realized. The movement in other comprehensive income or loss from period to period will be the result of the combination of changes in fair value of open derivatives and the outflow of other comprehensive income or loss related to cumulative changes in the fair value of derivatives that have settled in the current period. The accumulated effect was other comprehensive income of $2 million (net of tax of $0) and $1 million (net of tax of $0) for the three and nine months ended September 30, 2018, respectively. The accumulated effect was other comprehensive income of $25 million (net of tax of $8 million) and $53 million (net of tax of $15 million) for the three and nine months ended September 30, 2017, respectively.