Changes in Accumulated other comprehensive income (loss) (“AOCI”), net of tax, by component for the three months ended March 31, 2026 and 2025 were as follows:



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

Balance, net of tax, at December 31, 2025	$	(434)	$	(7)	$	(188)	$	(10)	$	(639)
Other comprehensive (loss) income before reclassifications and tax impact	(15)		—		8		—		(7)
Tax expense	(2)		—		(8)		—		(10)
Other comprehensive loss, net of tax, before reclassifications	(17)		—		—		—		(17)
Amounts reclassified from accumulated other comprehensive income (loss), net of tax	—		1		—		—		1
Net (decrease) increase in other comprehensive loss	(17)		1		—		—		(16)


Balance, net of tax, at March 31, 2026	$	(451)	$	(6)	$	(188)	$	(10)	$	(655)


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

Balance, net of tax, at December 31, 2024	$	(619)	$	(10)	$	(70)	$	(31)	$	(730)
Other comprehensive income (loss) before reclassifications and tax impact	75		—		(21)		—		54
Tax benefit	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)