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Accumulated Other Comprehensive Loss
 12 Months Ended
Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss, net of taxes, were as follows:
 
Currency Translation Adjustment(1)
 
Pension Liability Adjustment
 
Cash Flow Hedge Adjustment
 
Total
 
(in millions)
Balance as of December 31, 2015
$
(580
)
 
$
(194
)
 
$
(10
)
 
$
(784
)
Other comprehensive loss before reclassifications
(157
)
 
(63
)
 
(9
)
 
(229
)
Amounts reclassified from accumulated other comprehensive loss
(1
)
 
6

 
7

 
12

Net current period other comprehensive loss
(158
)
 
(57
)
 
(2
)
 
(217
)
Balance as of December 31, 2016
(738
)
 
(251
)
 
(12
)
 
(1,001
)
Other comprehensive income (loss) before reclassifications
161

 
15

 
(4
)
 
172

Amounts reclassified from accumulated other comprehensive loss
1

 
7

 
17

 
25

Net current period other comprehensive income
162

 
22

 
13

 
197

Spin-offs of Park and HGV
63

 
—

 
—

 
63

Balance as of December 31, 2017
(513
)
 
(229
)
 
1

 
(741
)
Other comprehensive income (loss) before reclassifications
(70
)
 
(18
)
 
17

 
(71
)
Amounts reclassified from accumulated other comprehensive loss
—

 
9

 
5

 
14

Net current period other comprehensive income (loss)
(70
)
 
(9
)
 
22

 
(57
)
Cumulative effect of the adoption of ASU 2018-02

38

 
(22
)
 
—

 
16

Balance as of December 31, 2018
$
(545
)
 
$
(260
)
 
$
23

 
$
(782
)
____________
(1) 
Includes net investment hedges and intra-entity foreign currency transactions that are of a long-term investment nature.

The following table presents additional information about reclassifications out of accumulated other comprehensive loss (amounts in parentheses indicate a loss in our consolidated statements of operations):
 
Year Ended December 31,
 
2018
 
2017
 
2016
 
(in millions)
Currency translation adjustment:
 
 
 
 
 
Sale or liquidation of investment in foreign entity(1)
$
—

 
$
(2
)
 
$
—

Gains on net investment hedges(1)
—

 
1

 
1

Total currency translation adjustment reclassifications for the period, net of taxes
—

 
(1
)
 
1

Pension liability adjustment:
 
 
 
 
 
Amortization of prior service cost(2)
(3
)
 
(3
)
 
(4
)
Amortization of net loss(2)
(8
)
 
(7
)
 
(5
)
Tax benefit(3)
2

 
3

 
3

Total pension liability adjustment reclassifications for the period, net of taxes
(9
)
 
(7
)
 
(6
)
Cash flow hedge adjustment:
 
 
 
 
 
Dedesignated interest rate swaps(4)
(6
)
 
(26
)
 
(12
)
Tax benefit(3)
1

 
9

 
5

Total cash flow hedge adjustment reclassifications for the period, net of taxes
(5
)
 
(17
)
 
(7
)
Total reclassifications for the period, net of taxes
$
(14
)
 
$
(25
)
 
$
(12
)
____________
(1) 
Reclassified out of accumulated other comprehensive loss to gain (loss) on foreign currency transactions in our consolidated statements of operations. The related tax benefits for the years ended December 31, 2017 and 2016 were less than $1 million and were reclassified out of accumulated other comprehensive loss to income tax benefit (expense) in our consolidated statements of operations.
(2) 
Reclassified out of accumulated other comprehensive loss to other non-operating income, net in our consolidated statements of operations. These amounts were included in the computation of net periodic pension cost (credit). See Note 15: "Employee Benefit Plans" for additional information.
(3) 
Reclassified out of accumulated other comprehensive loss to income tax benefit (expense) in our consolidated statements of operations.
(4) 
Reclassified out of accumulated other comprehensive loss to interest expense in our consolidated statements of operations. See Note 11: "Derivative Instruments and Hedging Activities" for additional information.