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Accumulated Other Comprehensive Loss | 3 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
Accumulated Other Comprehensive Loss | 4. Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss are as follows (in millions):
|  |  |  |  | Derivative |  |  | Employee |  |  |  |
|  | Currency |  |  | Financial |  |  | Benefit |  |  |  |
|  | Translation |  |  | Instruments, |  |  | Plans, |  |  |  |
|  | Adjustments |  |  | Net of Tax |  |  | Net of Tax |  |  | Total |
Balance at December 31, 2023 |  | $ | (1,432 | ) |  | $ | (5 | ) |  | $ | (56 | ) |  | $ | (1,493 | )
Accumulated other comprehensive loss before reclassifications |  |  | (26 | ) |  |  | (2 | ) |  |  | (1 | ) |  |  | (29 | )
Amounts reclassified from accumulated other comprehensive loss |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | 2 |
Balance at March 31, 2024 |  | $ | (1,458 | ) |  | $ | (5 | ) |  | $ | (57 | ) |  | $ | (1,520 | )
The components of amounts reclassified from accumulated other comprehensive loss are as follows (in millions):
| Three Months Ended March 31, |
| 2024 |  |  | 2023 |
|  | Currency |  |  | Derivative |  |  | Employee |  |  |  |  |  | Currency |  |  | Derivative |  |  | Employee |  |  |  |
|  | Translation |  |  | Financial |  |  | Benefit |  |  |  |  |  | Translation |  |  | Financial |  |  | Benefit |  |  |  |
|  | Adjustments |  |  | Instruments |  |  | Plans |  |  | Total |  |  | Adjustments |  |  | Instruments |  |  | Plans |  |  | Total |
Revenue |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Cost of revenue |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 1 |
Other expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | 2 |
Selling, general and administrative |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 1 |
Tax effect |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 5 |
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 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 open derivatives of ($2) million during the three months ended March 31, 2024; and, 2) the outflow of other comprehensive loss related to cumulative changes in the fair value of derivatives that have settled in the current period were $2 million the three months ended March 31, 2024.

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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://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//220/tableOfContent + Details
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