Changes in accumulated other comprehensive income (loss), net of noncontrolling interests and tax, are as follows (in millions):
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Predecessor |
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Foreign |
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Currency |
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Interest |
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Translation |
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Rate |
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Adjustments |
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Swaps(1) |
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Total |
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Balance at December 31, 2018 |
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$ |
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(9 |
) |
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$ |
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12 |
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$ |
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3 |
|
Other comprehensive (loss) income before reclassifications, net of tax |
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6 |
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(30 |
) |
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(24 |
) |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax |
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— |
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(4 |
) |
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(4 |
) |
Net current period other comprehensive (loss) income |
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6 |
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(34 |
) |
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(28 |
) |
Balance at December 31, 2019 |
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$ |
|
(3 |
) |
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$ |
|
(22 |
) |
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$ |
|
(25 |
) |
Other comprehensive (loss) income before reclassifications, net of tax |
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8 |
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(47 |
) |
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(39 |
) |
Amounts reclassified from accumulated other comprehensive income (loss), net of tax |
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— |
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|
22 |
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|
22 |
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Net current period other comprehensive (loss) income |
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8 |
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(25 |
) |
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(17 |
) |
Balance at December 31, 2020 |
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$ |
|
5 |
|
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$ |
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(47 |
) |
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$ |
|
(42 |
) |
Other comprehensive (loss) income before reclassifications, net of tax |
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8 |
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|
9 |
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|
17 |
|
Amounts reclassified from accumulated other comprehensive income (loss), net of tax |
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|
— |
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|
14 |
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|
14 |
|
Net current period other comprehensive (loss) income |
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8 |
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23 |
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|
31 |
|
Balance at June 30, 2021 |
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$ |
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13 |
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$ |
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(24 |
) |
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$ |
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(11 |
) |
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Successor |
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Foreign |
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Currency |
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Interest |
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Translation |
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Rate |
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Adjustments |
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Swaps(1) |
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Total |
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Balance at July 1, 2021 |
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$ |
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— |
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|
$ |
|
— |
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|
$ |
|
— |
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Other comprehensive income (loss) before reclassifications |
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|
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— |
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(9 |
) |
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|
(9 |
) |
Tax benefit |
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— |
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|
2 |
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|
2 |
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Other comprehensive income (loss) before reclassifications, net of tax |
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— |
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(7 |
) |
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(7 |
) |
Amounts reclassified from accumulated other comprehensive loss |
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— |
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(1 |
) |
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|
(1 |
) |
Tax expense |
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|
— |
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|
— |
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|
|
— |
|
Amounts reclassified from accumulated other comprehensive loss, net of tax |
|
|
|
— |
|
|
|
|
(1 |
) |
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|
|
(1 |
) |
Net current period other comprehensive income, net of tax |
|
|
|
— |
|
|
|
|
(8 |
) |
|
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|
(8 |
) |
Balance at December 31, 2021 |
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$ |
|
— |
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|
$ |
|
(8 |
) |
|
$ |
|
(8 |
) |
(1)Reclassifications from this category are recorded in Interest expense. See Note 13 “Derivative Financial Instruments” for additional information.
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