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Stockholders' equity (Tables) | 9 Months Ended
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Sep. 30, 2018
Equity [Abstract] |
Summary of activity under our stock repurchase program | Activity under our stock repurchase program, on a trade date basis, was as follows (in millions):
| 2018 |  | 2017
| Shares * |  | Dollars |  | Shares |  | Dollars
First quarter | 56.4 |  |  | $ | 10,787 |  |  | 3.4 |  |  | $ | 555 |
Second quarter | 18.2 |  |  | 3,190 |  |  | 6.2 |  |  | 1,006 |
Third quarter | 8.7 |  |  | 1,713 |  |  | 4.4 |  |  | 769 |
Total stock repurchases | 83.4 |  |  | $ | 15,690 |  |  | 14.0 |  |  | $ | 2,330 |
* Total shares may not add due to rounding.
Components of accumulated other comprehensive income | The components of AOCI were as follows (in millions):
| Foreign currency translation |  | Cash flow hedges |  | Available-for-sale securities |  | Other |  | AOCI
Balance as of December 31, 2017 | $ | (529 | ) |  | $ | (6 | ) |  | $ | (144 | ) |  | $ | — |  |  | $ | (679 | )
Cumulative effect of change in accounting principle, net of tax(1) | — |  |  | — |  |  | (9 | ) |  | — |  |  | (9 | )
Foreign currency translation adjustments | 29 |  |  | — |  |  | — |  |  | — |  |  | 29 |
Unrealized gains (losses) | — |  |  | 149 |  |  | (482 | ) |  | — |  |  | (333 | )
Reclassification adjustments to income | — |  |  | (130 | ) |  | 134 |  |  | — |  |  | 4 |
Other | — |  |  | — |  |  | — |  |  | 2 |  |  | 2 |
Income taxes | — |  |  | (13 | ) |  | 5 |  |  | — |  |  | (8 | )
Balance as of March 31, 2018 | (500 | ) |  | — |  |  | (496 | ) |  | 2 |  |  | (994 | )
Foreign currency translation adjustments | (111 | ) |  | — |  |  | — |  |  | — |  |  | (111 | )
Unrealized losses | — |  |  | (34 | ) |  | (106 | ) |  | — |  |  | (140 | )
Reclassification adjustments to income | — |  |  | 318 |  |  | 115 |  |  | — |  |  | 433 |
Income taxes | — |  |  | (61 | ) |  | — |  |  | — |  |  | (61 | )
Balance as of June 30, 2018 | (611 | ) |  | 223 |  |  | (487 | ) |  | 2 |  |  | (873 | )
Foreign currency translation adjustments | (71 | ) |  | — |  |  | — |  |  | — |  |  | (71 | )
Unrealized gains (losses) | — |  |  | 19 |  |  | (7 | ) |  | — |  |  | 12 |
Reclassification adjustments to income | — |  |  | 33 |  |  | 103 |  |  | — |  |  | 136 |
Other | — |  |  | — |  |  | — |  |  | (3 | ) |  | (3 | )
Income taxes | — |  |  | (11 | ) |  | 1 |  |  | — |  |  | (10 | )
Balance as of September 30, 2018 | $ | (682 | ) |  | $ | 264 |  |  | $ | (390 | ) |  | $ | (1 | ) |  | $ | (809 | )
____________
(1) | See Note 1, Summary of significant accounting policies, for additional information regarding the adoption on January 1, 2018, of the new accounting standard related to the classification and measurement of financial instruments and the related cumulative effect from the change in accounting principle.
Reclassifications out of accumulated other comprehensive income | Reclassifications out of AOCI and into earnings were as follows (in millions):
|  | Three months ended September 30, |  |
Components of AOCI |  | 2018 |  | 2017 |  | Condensed Consolidated Statements of Income locations
Cash flow hedges: |  |  |  |  |  |
Foreign currency contract gains (losses) |  | $ | 3 |  |  | $ | (2 | ) |  | Product sales
Cross-currency swap contract (losses) gains |  | (36 | ) |  | 143 |  |  | Interest and other income, net
Forward interest rate contract losses |  | — |  |  | (1 | ) |  | Interest expense, net
|  | (33 | ) |  | 140 |  |  | Income before income taxes
|  | 7 |  |  | (49 | ) |  | Provision for income taxes
|  | $ | (26 | ) |  | $ | 91 |  |  | Net income
Available-for-sale securities: |  |  |  |  |  |
Net realized (losses) gains |  | $ | (103 | ) |  | $ | 26 |  |  | Interest and other income, net
|  | 1 |  |  | (5 | ) |  | Provision for income taxes
|  | $ | (102 | ) |  | $ | 21 |  |  | Net income
|  | Nine months ended September 30, |  |
Components of AOCI |  | 2018 |  | 2017 |  | Condensed Consolidated Statements of Income locations
Cash flow hedges: |  |  |  |  |  |
Foreign currency contract (losses) gains |  | $ | (51 | ) |  | $ | 88 |  |  | Product sales
Cross-currency swap contract (losses) gains |  | (170 | ) |  | 514 |  |  | Interest and other income, net
Forward interest rate contract losses |  | — |  |  | (1 | ) |  | Interest expense, net
|  | (221 | ) |  | 601 |  |  | Income before income taxes
|  | 47 |  |  | (213 | ) |  | Provision for income taxes
|  | $ | (174 | ) |  | $ | 388 |  |  | Net income
Available-for-sale securities: |  |  |  |  |  |
Net realized losses |  | $ | (352 | ) |  | $ | (70 | ) |  | Interest and other income, net
|  | 3 |  |  | (7 | ) |  | Provision for income taxes
|  | $ | (349 | ) |  | $ | (77 | ) |  | Net income

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