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Accumulated Other Comprehensive Loss | 9 Months Ended
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Sep. 30, 2020
Equity [Abstract] |
Accumulated Other Comprehensive Loss |
4. | Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive 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, 2019 |  | $ | (1,403 | ) |  | $ | (4 | ) |  | $ | (16 | ) |  | $ | (1,423 | )
Accumulated other comprehensive income (loss) before reclassifications |  |  | (151 | ) |  |  | (19 | ) |  |  | — |  |  |  | (170 | )
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | — |  |  |  | 16 |  |  |  | — |  |  |  | 16 |
Balance at September 30, 2020 |  | $ | (1,554 | ) |  | $ | (7 | ) |  | $ | (16 | ) |  | $ | (1,577 | )
The components of amounts reclassified from accumulated other comprehensive income (loss) are as follows (in millions):
|  | Three Months Ended September 30, |
|  | 2020 |  |  | 2019 |
|  | Currency |  |  | Derivative |  |  | Defined |  |  |  |  |  |  | Currency |  |  | Derivative |  |  | Defined |  |  |  |  |
|  | Translation |  |  | Financial |  |  | Benefit |  |  |  |  |  |  | Translation |  |  | Financial |  |  | Benefit |  |  |  |  |
|  | Adjustments |  |  | Instruments |  |  | Plans |  |  | Total |  |  | Adjustments |  |  | Instruments |  |  | Plans |  |  | Total |
Revenue |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Cost of revenue |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | 4 |
Tax effect |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (1 | )
|  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 3 |
|  | Nine Months Ended September 30, |
|  | 2020 |  |  | 2019 |
|  | Currency |  |  | Derivative |  |  | Defined |  |  |  |  |  |  | Currency |  |  | Derivative |  |  | Defined |  |  |  |  |
|  | Translation |  |  | Financial |  |  | Benefit |  |  |  |  |  |  | Translation |  |  | Financial |  |  | Benefit |  |  |  |  |
|  | Adjustments |  |  | Instruments |  |  | Plans |  |  | Total |  |  | Adjustments |  |  | Instruments |  |  | Plans |  |  | Total |
Revenue |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Cost of revenue |  |  | — |  |  |  | 16 |  |  |  | — |  |  |  | 16 |  |  |  | — |  |  |  | 7 |  |  |  | — |  |  |  | 7 |
Tax effect |  |  | — |  |  |  | (4 | ) |  |  | — |  |  |  | (4 | ) |  |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | (2 | )
|  | $ | — |  |  | $ | 16 |  |  | $ | — |  |  | $ | 16 |  |  | $ | — |  |  | $ | 6 |  |  | $ | — |  |  | $ | 6 |
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 (loss). The Company recorded income of $20 million and a loss of $151 million for the three and nine months ended September 30, 2020, respectively, and a loss of $118 million and $80 million for the three and nine months ended September 30, 2019, respectively. 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 are realized. The movement in other comprehensive income (loss) from period to period will be the combination of: 1) changes in fair value of outstanding derivatives of $14 million and ($19) million during the three and nine months ended September 30, 2020; and, 2) the outflow of other comprehensive income (loss) related to cumulative changes in the fair value of derivatives that have settled in the current period ($2 million and $16 million during the three and nine months ended September 30, 2020).

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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