Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jun. 30, 2021

Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three and six months ended June 30, 2021:


	Three Months						Six Months
(in millions)	Before Tax Amount		Tax Effect		Net of Tax Amount		Before Tax Amount		Tax Effect		Net of Tax Amount
Foreign currency translation adjustments:
Beginning balance	$	29	$	1	$	30	$	56	$	(1)	$	55
Change in foreign currency translation adjustments	15		(1)		14		(12)		1		(11)
Ending balance	$	44	$	—	$	44	$	44	$	—	$	44
Unrealized gains on cash flow hedges:
Beginning balance	$	63	$	(12)	$	51	$	67	$	(12)	$	55
Unrealized (losses) gains arising during the period	(3)		—		(3)		14		(3)		11
Reclassifications of net (gains) to:
Cost of revenues	(12)		3		(9)		(30)		6		(24)
SG&A expenses	(2)		1		(1)		(5)		1		(4)
Net change	(17)		4		(13)		(21)		4		(17)
Ending balance	$	46	$	(8)	$	38	$	46	$	(8)	$	38
Accumulated other comprehensive income (loss):
Beginning balance	$	92	$	(11)	$	81	$	123	$	(13)	$	110
Other comprehensive income (loss)	(2)		3		1		(33)		5		(28)
Ending balance	$	90	$	(8)	$	82	$	90	$	(8)	$	82

Changes in "Accumulated other comprehensive income (loss)" by component were as follows for the three and six months ended June 30, 2020:


	Three Months						Six Months
(in millions)	Before Tax Amount		Tax Effect		Net of Tax Amount		Before Tax Amount		Tax Effect		Net of Tax Amount
Foreign currency translation adjustments:
Beginning balance	$	(202)	$	3	$	(199)	$	(63)	$	(1)	$	(64)
Change in foreign currency translation adjustments	37		1		38		(102)		5		(97)
Ending balance	$	(165)	$	4	$	(161)	$	(165)	$	4	$	(161)
Unrealized (losses) gains on cash flow hedges:
Beginning balance	$	(79)	$	14	$	(65)	$	31	$	(5)	$	26
Unrealized gains (losses) arising during the period	35		(6)		29		(78)		13		(65)
Reclassifications of net losses to:
Cost of revenues	9		(2)		7		12		(2)		10
SG&A expenses	2		—		2		2		—		2
Net change	46		(8)		38		(64)		11		(53)
Ending balance	$	(33)	$	6	$	(27)	$	(33)	$	6	$	(27)
Accumulated other comprehensive income (loss):
Beginning balance	$	(281)	$	17	$	(264)	$	(32)	$	(6)	$	(38)
Other comprehensive income (loss)	83		(7)		76		(166)		16		(150)
Ending balance	$	(198)	$	10	$	(188)	$	(198)	$	10	$	(188)