Accumulated Other Comprehensive Income (Loss) ("AOCI")

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss) ("AOCI")

8. Accumulated Other Comprehensive Income (Loss) ("AOCI")

The components of AOCI are as follows (in millions):

	Foreign Currency Translation Adjustments
	Three Months Ended March 31,
	2023			2022
Beginning balance	$	(150	)	$	(147	)
Net current-period other comprehensive income		1			2
Ending balance	$	(149	)	$	(145	)

The Company’s reporting currency is the U.S. dollar. A majority of the Company’s international entities in which there is a substantial investment have the local currency as their functional currency. As a result, foreign currency translation adjustments resulting from the process of translating the entities’ financial statements into the reporting currency are reported in other comprehensive income or loss in accordance with ASC Topic 830, “Foreign Currency Matters.”