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COMPREHENSIVE LOSS | 3 Months Ended
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Mar. 31, 2025
Other Comprehensive Income (Loss), Net of Tax [Abstract] |
COMPREHENSIVE LOSS | COMPREHENSIVE LOSS Changes in Accumulated other comprehensive income (loss) (“AOCI”), net of tax, by component for the three months ended March 31, 2025 and 2024 were as follows:
(in millions) |  | Foreign Currency Translation Gain (Loss) |  | Gain (Loss) on Cash Flow Hedges |  | Gain (Loss) on Net Investment and Fair Value Hedges |  |  |  | Pension Liability Gain (Loss) |  | Total
Balance, net of tax, at December 31, 2024 |  | $ | (619) |  |  | $ | (10) |  |  | $ | (70) |  |  |  |  | $ | (31) |  |  | $ | (730) |
Other comprehensive (loss) income before reclassifications and tax impact |  | 75 |  |  | — |  |  | (21) |  |  |  |  | — |  |  | 54 |
Tax expense |  | 12 |  |  | — |  |  | 5 |  |  |  |  | — |  |  | 17 |
Other comprehensive (loss) income, net of tax, before reclassifications |  | 87 |  |  | — |  |  | (16) |  |  |  |  | — |  |  | 71 |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |
Net (decrease) increase in other comprehensive income |  | 87 |  |  | — |  |  | (16) |  |  |  |  | — |  |  | 71 |
Balance, net of tax, at March 31, 2025 |  | $ | (532) |  |  | $ | (10) |  |  | $ | (86) |  |  |  |  | $ | (31) |  |  | $ | (659) |
(in millions) |  | Foreign Currency Translation Gain (Loss) |  | Gain (Loss) on Cash Flow Hedges |  | Gain (Loss) on Net Investment and Fair Value Hedges |  |  |  | Pension Liability Gain (Loss) |  | Total
Balance, net of tax, at December 31, 2023 |  | $ | (473) |  |  | $ | (13) |  |  | $ | (107) |  |  |  |  | $ | (43) |  |  | $ | (636) |
Other comprehensive income (loss) before reclassifications and tax impact |  | (34) |  |  | — |  |  | 42 |  |  |  |  | — |  |  | 8 |
Tax benefit |  | (28) |  |  | — |  |  | (10) |  |  |  |  | — |  |  | (38) |
Other comprehensive income (loss), net of tax, before reclassifications |  | (62) |  |  | — |  |  | 32 |  |  |  |  | — |  |  | (30) |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |
Net increase (decrease) in other comprehensive income |  | (62) |  |  | — |  |  | 32 |  |  |  |  | — |  |  | (30) |
Balance, net of tax, at March 31, 2024 |  | $ | (535) |  |  | $ | (13) |  |  | $ | (75) |  |  |  |  | $ | (43) |  |  | $ | (666) |
At March 31, 2025 and December 31, 2024, the cumulative tax adjustments were $135 million and $118 million, respectively, primarily related to foreign currency translation adjustments. The cumulative foreign currency translation adjustments included translation losses of $443 million and $552 million at March 31, 2025 and December 31, 2024, respectively, and cumulative losses on loans designated as hedges of net investments of $89 million and $67 million at March 31, 2025 and December 31, 2024, respectively. Reclassifications out of AOCI to the Consolidated Statements of Operations for the three months ended March 31, 2025 and 2024 were not significant.

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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/1943274/2147477250/944-220-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/1943274/2147478524/942-220-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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