Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

8. Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) are as follows (in millions): 

	Foreign Currency
	Translation Adjustments
Balance at December 31, 2019	$	(128	)
Other comprehensive income (loss)		(28	)
Balance at September 30, 2020	$	(156	)

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.” For the nine months ended September 30, 2020, several local currencies weakened against the U.S. dollar, contributing to the other comprehensive loss.