XML 50 R24.htm IDEA: XBRL DOCUMENT v3.22.0.1
Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss) 16. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The following table presents the changes in accumulated other comprehensive income (loss), net of applicable taxes, by component:
(In millions)Derivative Gain (Loss)Foreign Currency Translation Gain (Loss)Total
Balance as of December 29, 2018$— $(82)$(82)
Other comprehensive income (loss) attributable to Covetrus before reclassifications
(1)(4)(5)
Reclassified from Accumulated other comprehensive loss to earnings1 — 1 
Period Change— (4)(4)
Balance as of December 31, 2019— (86)(86)
Other comprehensive income (loss) attributable to Covetrus before reclassifications(8)21 13 
Reclassified from Accumulated other comprehensive loss to earnings5 2 7 
Period Change(3)23 20 
Balance as of December 31, 2020(3)(63)(66)
Other comprehensive income (loss) attributable to Covetrus before reclassifications
(2)(16)(18)
Reclassified from Accumulated other comprehensive loss to earnings5 — 5 
Period Change3 (16)(13)
Balance as of December 31, 2021$— $(79)$(79)

Comprehensive income (loss) includes certain gains and losses that are excluded from net income (loss) under GAAP as these amounts are recorded directly as an adjustment to total equity. We recognize foreign currency translation losses as a component of comprehensive income (loss) due to changes in foreign exchange rates from the beginning of the period to the end of the period. Fluctuations in the value of foreign currencies as compared to USD may have a significant impact on comprehensive income (loss). The tax effect on the components comprehensive income (loss) were not material for the periods presented.