

(in millions)	Foreign Currency Translation Gain (Loss)		Gain (Loss) on Cash Flow Hedges		Gain (Loss) on Net Investment and Fair Value Hedges		Pension Liability Gain (Loss)		Total

Balance, net of tax, at December 31, 2024	$	(619)	$	(10)	$	(70)	$	(31)	$	(730)
Other comprehensive (loss) income before reclassifications and tax impact	75		—		(21)		—		54
Tax expense	12		—		5		—		17
Other comprehensive income (loss), net of tax, before reclassifications	87		—		(16)		—		71
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		—		—		—		—
Net increase (decrease) in other comprehensive loss	87		—		(16)		—		71


Balance, net of tax, at March 31, 2025	$	(532)	$	(10)	$	(86)	$	(31)	$	(659)
Other comprehensive (loss) before reclassifications and tax impact	75		—		(115)		—		(40)
Tax expense	31		—		27		—		58
Other comprehensive income (loss) before reclassifications and tax impact	106		—		(88)		—		18
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		—		—		—		—
Net increase (decrease) in other comprehensive loss	106		—		(88)		—		18


Balance, net of tax, at June 30, 2025	$	(426)	$	(10)	$	(174)	$	(31)	$	(641)


(in millions)	Foreign Currency Translation Gain (Loss)		Gain (Loss) on Cash Flow Hedges		Gain (Loss) on Net Investment and Fair Value Hedges		Pension Liability Gain (Loss)		Total

Balance, net of tax, at December 31, 2023	$	(473)	$	(13)	$	(107)	$	(43)	$	(636)
Other comprehensive income (loss) before reclassifications and tax impact	(34)		—		42		—		8
Tax benefit	(28)		—		(10)		—		(38)
Other comprehensive income (loss), net of tax, before reclassifications	(62)		—		32		—		(30)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		—		—		—		—
Net (decrease) increase in other comprehensive loss	(62)		—		32		—		(30)
Balance, net of tax, at March 31, 2024	$	(535)	$	(13)	$	(75)	$	(43)	$	(666)
Other comprehensive loss before reclassifications and tax impact	(14)		—		(2)		—		(16)
Tax expense	4		—		1		—		5
Other comprehensive loss, net of tax, before reclassifications	(10)		—		(1)		—		(11)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		—		—		—		—
Net (decrease) increase in other comprehensive loss	(10)		—		(1)		—		(11)

Balance, net of tax, at June 30, 2024	$	(545)	$	(13)	$	(76)	$	(43)	$	(677)

The cumulative foreign currency translation adjustments included translation losses of $275 million and $552 million at June 30, 2025 and December 31, 2024, respectively, and cumulative losses on loans designated as hedges of net investments of $151 million and $67 million at June 30, 2025 and December 31, 2024, respectively.