v3.25.2
Accumulated Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Jun. 30, 2025
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table provides the components of accumulated other comprehensive loss ("AOCL") for the six months ended June 30, 2025:
(in millions)Foreign Currency TranslationPost-retirement Benefit PlansDerivative InstrumentsTotal
Balance at January 1, 2025$(368)$(53)$(14)$(435)
Foreign currency translation adjustment56 — — 56 
Amount of currency translation adjustment relating to divestiture of foreign subsidiaries reclassified into net income8 — — 8 
Tax on foreign currency translation adjustment20 — — 20 
Foreign currency translation adjustment for post-retirement benefit plans— (1)— (1)
Unrealized gain on derivative hedge agreements— — 15 15 
Income tax benefit on unrealized gain on derivative hedge agreements— — (2)(2)
Reclassification of unrealized loss on foreign exchange agreements into revenue— — 3 3 
Reclassification of unrealized gain on foreign exchange agreements into cost of revenue— — (1)(1)
Balance at March 31, 2025$(284)$(54)$1 $(337)
Foreign currency translation adjustment37 — — 37 
Tax on foreign currency translation adjustment65 — — 65 
Amortization of prior service credit and actuarial loss on post-retirement benefit plans into other non-operating income, net— 1 — 1 
Foreign currency translation adjustment for post-retirement benefit plans
— (2)— (2)
Unrealized gain on derivative hedge agreements— — 15 15 
Income tax benefit on unrealized gain on derivative hedge agreements— — (2)(2)
Reclassification of unrealized loss on foreign exchange agreements into revenue— — 2 2 
Reclassification of unrealized gain on foreign exchange agreements into cost of revenue— — (1)(1)
Balance at June 30, 2025$(182)$(55)$15 $(222)
The following table provides the components of AOCL for the six months ended June 30, 2024:
(in millions)Foreign Currency TranslationPost-retirement Benefit PlansDerivative InstrumentsTotal
Balance at January 1, 2024$(196)$(72)$(1)$(269)
Foreign currency translation adjustment(65)— — (65)
Tax on foreign currency translation adjustment(10)— — (10)
Income tax impact on amortization of post-retirement benefit plan items— (1)— (1)
Foreign currency translation adjustment for post-retirement benefit plans— 2 — 2 
Unrealized loss on derivative hedge agreements— — (3)(3)
Reclassification of unrealized loss on foreign exchange agreements into cost of revenue— — 1 1 
Balance at March 31, 2024$(271)$(71)$(3)$(345)
Foreign currency translation adjustment6 — — 6 
Tax on foreign currency translation adjustment(5)— — (5)
Reclassification of unrealized gain on foreign exchange agreements into revenue— — (1)(1)
Balance at June 30, 2024$(270)$(71)$(4)$(345)