Equity (Tables)

9 Months Ended

Sep. 30, 2020

Schedule Of Common Stock Repurchase Table

The table below presents a summary of common stock repurchases (in millions).


	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Series C Common Stock:
Shares repurchased	11.2		11.6		30.7		11.6
Purchase price	$	228	$	300	$	751	$	300

Components of Other Comprehensive Income (Loss)

The table below presents the tax effects related to each component of other comprehensive income (loss) and reclassifications made in the consolidated statements of operations (in millions).


	Three Months Ended September 30, 2020						Three Months Ended September 30, 2019
	Pretax		Tax benefit (expense)		Net-of-tax		Pretax		Tax benefit		Net-of-tax
Currency translation adjustments:
Unrealized gains (losses):
Foreign currency	$	193	$	(11)	$	182	$	(242)	$	(5)	$	(247)
Net investment hedges	(106)		25		(81)		101		—		101


Total currency translation adjustments	87		14		101		(141)		(5)		(146)

Derivative adjustments:
Unrealized gains (losses)	35		(9)		26		41		(8)		33
Reclassifications from other comprehensive income to net income	(5)		1		(4)		(2)		(1)		(3)
Total derivative adjustments	30		(8)		22		39		(9)		30
Other comprehensive income (loss) adjustments	$	117	$	6	$	123	$	(102)	$	(14)	$	(116)


	Nine Months Ended September 30, 2020						Nine Months Ended September 30, 2019
	Pretax		Tax benefit (expense)		Net-of-tax		Pretax		Tax benefit		Net-of-tax
Currency translation adjustments:
Unrealized gains (losses):
Foreign currency	$	29	$	46	$	75	$	(333)	$	(6)	$	(339)
Net investment hedges	23		(22)		1		128		—		128
Reclassifications:
Loss on disposition	—		—		—		6		—		6
Total currency translation adjustments	52		24		76		(199)		(6)		(205)

Derivative adjustments:
Unrealized gains (losses)	(168)		40		(128)		(3)		2		(1)
Reclassifications from other comprehensive income to net income	(29)		5		(24)		(9)		1		(8)
Total derivative adjustments	(197)		45		(152)		(12)		3		(9)
Other comprehensive income (loss) adjustments	$	(145)	$	69	$	(76)	$	(211)	$	(3)	$	(214)

Schedule of Accumulated Other Comprehensive Loss

The table below presents the changes in the components of accumulated other comprehensive loss, net of taxes (in millions).


	Three Months Ended September 30, 2020
	Currency Translation		Derivatives		Pension Plan and SERP Liability		Accumulated Other Comprehensive Loss
Beginning balance	$	(872)	$	(142)	$	(7)	$	(1,021)
Other comprehensive income (loss) before reclassifications	101		26		—		127
Reclassifications from accumulated other comprehensive loss to net income	—		(4)		—		(4)
Other comprehensive income (loss)	101		22		—		123


Ending balance	$	(771)	$	(120)	$	(7)	$	(898)


	Three Months Ended September 30, 2019
	Currency Translation		Derivatives		Pension Plan and SERP Liability		Accumulated Other Comprehensive Loss
Beginning balance	$	(891)	$	(25)	$	3	$	(913)
Other comprehensive income (loss) before reclassifications	(146)		33		—		(113)
Reclassifications from accumulated other comprehensive loss to net income	—		(3)		—		(3)

Other comprehensive income (loss)	(146)		30		—		(116)

Ending balance	$	(1,037)	$	5	$	3	$	(1,029)


	Nine Months Ended September 30, 2020
	Currency Translation		Derivatives		Pension Plan and SERP Liability		Accumulated Other Comprehensive Loss
Beginning balance	$	(847)	$	32	$	(7)	$	(822)
Other comprehensive income (loss) before reclassifications	76		(128)		—		(52)
Reclassifications from accumulated other comprehensive loss to net income	—		(24)		—		(24)

Other comprehensive income (loss)	76		(152)		—		(76)

Ending balance	$	(771)	$	(120)	$	(7)	$	(898)


	Nine Months Ended September 30, 2019
	Currency Translation		Derivatives		Pension Plan and SERP Liability		Accumulated Other Comprehensive Loss
Beginning balance	$	(804)	$	16	$	3	$	(785)
Other comprehensive income (loss) before reclassifications	(211)		(1)		—		(212)
Reclassifications from accumulated other comprehensive loss to net income	6		(8)		—		(2)
Other comprehensive income (loss)	(205)		(9)		—		(214)
Reclassifications to retained earnings resulting from the adoption of ASU 2018-02	(28)		(2)		—		(30)
Ending balance	$	(1,037)	$	5	$	3	$	(1,029)