Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 30, 2021

Components of Accumulated Other Comprehensive Loss

The following table displays the changes in Accumulated Other Comprehensive Income (Loss) (“AOCL”) by component, net of tax, for the nine months ended September 30, 2021 (in millions):


	Cumulative Translation Adjustment		Pension and Postretirement Costs		Derivative Financial Instruments		AOCL
Balance at December 31, 2020	$	(481)	$	(356)	$	(43)	$	(880)
Other comprehensive income (loss) before reclassifications	(65)		2		8		(55)
Amounts reclassified to earnings	—		13		15		28
Net current period other comprehensive income (loss)	(65)		15		23		(27)
Balance at September 30, 2021	$	(546)	$	(341)	$	(20)	$	(907)

Reclassification from AOCL to Results of Operations

Reclassifications from AOCL to the results of operations for the three and nine months ended September 30, 2021 and 2020 were pre-tax (income) expense of (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Pension and postretirement benefit plans (1)	$	5	$	6	$	16	$	17
Derivative financial instruments (2)	8		(6)		19		(5)

(1)Primarily represents the amortization of net actuarial losses and plan settlements recorded in other (income) expense, net in the Consolidated Statements of Operations. See Footnote 10 for further information.

(2)See Footnote 9 for further information.

Schedule of Income Tax (Provision) Benefit Allocated to Components of OCI

The income tax provision (benefit) allocated to the components of AOCL for the periods indicated are as follows (in millions):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Foreign currency translation adjustments	$	7	$	(12)	$	16	$	(11)
Pension and postretirement benefit costs	1		1		3		3
Derivative financial instruments	4		(2)		7		5
Income tax provision (benefit) related to AOCL	$	12	$	(13)	$	26	$	(3)