Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2021

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


	Three Months						Nine 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	$	44	$	—	$	44	$	56	$	(1)	$	55
Change in foreign currency translation adjustments	(65)		2		(63)		(77)		3		(74)
Ending balance	$	(21)	$	2	$	(19)	$	(21)	$	2	$	(19)
Unrealized gains on cash flow hedges:
Beginning balance	$	46	$	(8)	$	38	$	67	$	(12)	$	55
Unrealized gains arising during the period	33		(6)		27		47		(9)		38
Reclassifications of net (gains) to:
Cost of revenues	(13)		2		(11)		(43)		8		(35)
SG&A expenses	(2)		—		(2)		(7)		1		(6)
Net change	18		(4)		14		(3)		—		(3)
Ending balance	$	64	$	(12)	$	52	$	64	$	(12)	$	52
Accumulated other comprehensive income (loss):
Beginning balance	$	90	$	(8)	$	82	$	123	$	(13)	$	110
Other comprehensive income (loss)	(47)		(2)		(49)		(80)		3		(77)
Ending balance	$	43	$	(10)	$	33	$	43	$	(10)	$	33

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


	Three Months						Nine 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	$	(165)	$	4	$	(161)	$	(63)	$	(1)	$	(64)
Change in foreign currency translation adjustments	93		(3)		90		(9)		2		(7)
Ending balance	$	(72)	$	1	$	(71)	$	(72)	$	1	$	(71)
Unrealized (losses) gains on cash flow hedges:
Beginning balance	$	(33)	$	6	$	(27)	$	31	$	(5)	$	26
Unrealized gains (losses) arising during the period	77		(14)		63		(1)		(1)		(2)
Reclassifications of net (gains) losses to:
Cost of revenues	(5)		1		(4)		7		(1)		6
SG&A expenses	(1)		—		(1)		1		—		1
Net change	71		(13)		58		7		(2)		5
Ending balance	$	38	$	(7)	$	31	$	38	$	(7)	$	31
Accumulated other comprehensive income (loss):
Beginning balance	$	(198)	$	10	$	(188)	$	(32)	$	(6)	$	(38)
Other comprehensive income (loss)	164		(16)		148		(2)		—		(2)
Ending balance	$	(34)	$	(6)	$	(40)	$	(34)	$	(6)	$	(40)