ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

9 Months Ended

Sep. 30, 2024

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, 2024 and 2023. Certain prior period amounts have been updated to reflect the gains and losses on hedge instruments that were reclassified to the income statement.

(in millions)	Foreign currency translation adjustments		Hedge instruments		Defined benefit retirement plans		Total
Beginning balance, June 30, 2024	$	(816)	$	10	$	(132)	$	(938)
Comprehensive (loss) income before reclassifications	143		(23)		(1)		119
Income taxes associated with comprehensive (loss) income before reclassifications	16		—		3		19
Reclassification from accumulated other comprehensive (loss) income	—		(5)		(1)		(6)
Income taxes associated with comprehensive income (loss) reclassified into net earnings	—		—		(2)		(2)
Ending balance, September 30, 2024	$	(657)	$	(18)	$	(133)	$	(808)

(in millions)	Foreign currency translation adjustments		Hedge instruments		Defined benefit retirement plans		Total
Beginning balance, June 30, 2023	$	(806)	$	42	$	(134)	$	(898)
Comprehensive (loss) income before reclassifications	17		1		5		23
Income taxes associated with comprehensive (loss) income before reclassifications	(13)		—		1		(12)
Reclassification from accumulated other comprehensive (loss) income	—		(12)		1		(11)
Income taxes associated with comprehensive income (loss) 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, 2023	$	(719)	$	28	$	(137)	$	(828)
Comprehensive income (loss) before reclassifications	67		(19)		7		55
Income taxes associated with comprehensive income (loss) before reclassifications	(5)		—		2		(3)
Reclassification from accumulated other comprehensive (loss) income	—		(27)		(4)		(31)
Income taxes associated with comprehensive income (loss) reclassified into net earnings	—		—		(1)		(1)
Ending balance, September 30, 2024	$	(657)	$	(18)	$	(133)	$	(808)

(in millions)	Foreign currency translation adjustments		Hedge instruments		Defined benefit retirement plans		Total
Beginning balance, December 31, 2022	$	(750)	$	4	$	(130)	$	(876)
Comprehensive income (loss) before reclassifications	(51)		49		1		(1)
Income taxes associated with comprehensive income (loss) before reclassifications	(1)		—		—		(1)
Reclassification from accumulated other comprehensive (loss) income	—		(22)		2		(20)
Income taxes associated with comprehensive income (loss) reclassified into net earnings	—		—		(1)		(1)
Spin-Off of PHINIA	(20)		(1)		5		(16)
Ending balance, September 30, 2023	$	(822)	$	30	$	(123)	$	(915)