Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Accumulated Other Comprehensive Income

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


	Currency Translation Adjustments (a)		Net Unrealized Gains (Losses) on Cash Flow Hedges (b)		Minimum Pension Liability Adjustment (c)		Accumulated Other Comprehensive Income (Loss)
Balance, January 1, 2021	$	40	$	(51)	$	(176)	$	(187)
Other comprehensive income (loss) before reclassifications	(35)		18		39		22
Amounts reclassified from accumulated other comprehensive income (loss)	11		14		7		32
Net current-period other comprehensive income (loss)	(24)		32		46		54
Balance, December 31, 2021	16		(19)		(130)		(133)


Other comprehensive income (loss) before reclassifications	(46)		57		11		22
Amounts reclassified from accumulated other comprehensive income (loss)	—		7		3		10
Net current-period other comprehensive income (loss)	(46)		64		14		32
Balance, December 31, 2022	(30)		45		(116)		(101)
Other comprehensive income (loss) before reclassifications	27		5		(18)		14
Amounts reclassified from accumulated other comprehensive income (loss)	—		(13)		4		(9)
Net current-period other comprehensive income (loss)	27		(8)		(14)		5
Balance, December 31, 2023	$	(3)	$	37	$	(130)	$	(96)

__________

All components of accumulated other comprehensive income (loss) are net of tax, except currency translation adjustments, which exclude income taxes related to indefinite investments in foreign subsidiaries (see Note 9 – Income Taxes) and include a $93 million gain, net of tax, related to our hedge of our investment in euro-denominated foreign operations (See Note 20 – Financial Instruments).

(a)For the year ended December 31, 2021 the amounts were reclassified from accumulated other comprehensive income (loss) into restructuring and other related charges.

(b)For the years ended December 31, 2023, 2022 and 2021, the amounts reclassified from accumulated other comprehensive income (loss) into corporate interest expense were income of $18 million ($13 million, net of tax), losses of $9 million ($7 million, net of tax) and losses of $17 million ($12 million, net of tax), respectively. For the year ended December 31, 2021, the amount reclassified from accumulated other comprehensive income (loss) into vehicle interest expense was losses of $2 million ($2 million, net of tax).

(c)For the years ended December 31, 2023, 2022 and 2021, amounts reclassified from accumulated other comprehensive income (loss) into selling, general and administrative expenses were losses of $5 million ($4 million, net of tax), $5 million ($3 million, net of tax) and $9 million ($7 million, net of tax), respectively.