ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

9 Months Ended

Sep. 30, 2023

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following tables summarize the activity within accumulated other comprehensive loss during the three and nine months ended September 30, 2023 and 2022:

(in millions)	Foreign currency translation adjustments		Hedge instruments		Defined benefit retirement plans		Total
Beginning balance, June 30, 2023	$	(806)	$	42	$	(134)	$	(898)
Comprehensive income (loss) before reclassifications	17		(11)		5		11
Income taxes associated with comprehensive (loss) income before reclassifications	(13)		—		1		(12)
Reclassification from accumulated other comprehensive loss	—		—		1		1
Income taxes reclassified into net earnings	—		—		(1)		(1)
Spin-Off of PHINIA	(20)		(1)		5		(16)
Ending balance, September 30, 2023	$	(822)	$	30	$	(123)	$	(915)

(in millions)	Foreign currency translation adjustments		Hedge instruments		Defined benefit retirement plans		Total
Beginning balance, June 30, 2022	$	(703)	$	5	$	(118)	$	(816)
Comprehensive (loss) income before reclassifications	(240)		8		3		(229)
Income taxes associated with comprehensive (loss) income before reclassifications	(34)		—		—		(34)
Reclassification from accumulated other comprehensive loss	—		—		2		2
Income taxes reclassified into net earnings	—		—		(1)		(1)
Ending balance, September 30, 2022	$	(977)	$	13	$	(114)	$	(1,078)

(in millions)	Foreign currency translation adjustments		Hedge instruments		Defined benefit retirement plans		Total
Beginning balance, December 31, 2022	$	(750)	$	4	$	(130)	$	(876)
Comprehensive (loss) income before reclassifications	(51)		27		1		(23)
Income taxes associated with comprehensive (loss) income before reclassifications	(1)		—		—		(1)
Reclassification from accumulated other comprehensive loss	—		—		2		2
Income taxes reclassified into net earnings	—		—		(1)		(1)
Spin-Off of PHINIA	(20)		(1)		5		(16)
Ending balance, September 30, 2023	$	(822)	$	30	$	(123)	$	(915)

(in millions)	Foreign currency translation adjustments		Hedge instruments		Defined benefit retirement plans		Total
Beginning balance, December 31, 2021	$	(423)	$	—	$	(128)	$	(551)
Comprehensive (loss) income before reclassifications	(474)		12		9		(453)
Income taxes associated with comprehensive (loss) income before reclassifications	(80)		—		1		(79)
Reclassification from accumulated other comprehensive loss	—		1		6		7
Income taxes reclassified into net earnings	—		—		(2)		(2)
Ending balance, September 30, 2022	$	(977)	$	13	$	(114)	$	(1,078)