v3.24.2
Accumulated Other Comprehensive (Loss)/Income
6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Accumulated Other Comprehensive (Loss)/Income Accumulated Other Comprehensive Loss
The components of accumulated other comprehensive loss are as follows (in millions):
PretaxForeign Currency Translation AdjustmentsDefined Benefit Pension Plans Accumulated Other Comprehensive Loss
 Balance, December 31, 2023$(170)$1 $(169)
 Other comprehensive loss
(13)— (13)
 Balance, June 30, 2024$(183)$1 $(182)
Tax
 Balance, December 31, 2023$99 $— $99 
 Other comprehensive income
1 — 1 
 Balance, June 30, 2024$100 $— $100 
Net of Tax
 Balance, December 31, 2023$(71)$1 $(70)
 Other comprehensive loss
(12)— (12)
 Balance, June 30, 2024$(83)$1 $(82)
PretaxForeign Currency Translation AdjustmentsDefined Benefit Pension Plans Accumulated Other Comprehensive Loss
 Balance, December 31, 2022$(178)$— $(178)
 Other comprehensive income1 — 1 
 Balance, June 30, 2023$(177)$— $(177)
Tax
 Balance, December 31, 2022$99 $— $99 
 Other comprehensive loss
(1)— (1)
 Balance, June 30, 2023$98 $— $98 
Net of Tax
 Balance, December 31, 2022$(79)$— $(79)
 Other comprehensive income— — — 
 Balance, June 30, 2023$(79)$— $(79)
Foreign currency translation adjustments exclude income taxes related to investments in foreign subsidiaries where the Company intends to reinvest the undistributed earnings indefinitely in those foreign operations.
The Company's policy for releasing disproportionate income tax effects from AOCL utilizes the aggregate approach.
There were no reclassifications out of AOCL for the six months ended June 30, 2024 or 2023.