XML 28 R24.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Stockholders' equity | 12 Months Ended
--- | ---
Dec. 31, 2019
Equity [Abstract] |
Stockholders' equity | Stockholders’ equity Stock repurchase program Activity under our stock repurchase program, on a trade date basis, was as follows (in millions):
| Years ended December 31,
| 2019 |  | 2018 |  | 2017
| Shares* |  | Dollars |  | Shares* |  | Dollars |  | Shares |  | Dollars
First quarter | 15.9 |  |  | $ | 3,031 |  |  | 56.4 |  |  | $ | 10,787 |  |  | 3.4 |  |  | $ | 555 |
Second quarter | 13.1 |  |  | 2,349 |  |  | 18.2 |  |  | 3,190 |  |  | 6.2 |  |  | 1,006 |
Third quarter | 6.2 |  |  | 1,170 |  |  | 8.7 |  |  | 1,713 |  |  | 4.4 |  |  | 769 |
Fourth quarter | 5.1 |  |  | 1,090 |  |  | 11.1 |  |  | 2,165 |  |  | 4.5 |  |  | 796 |
Total stock repurchases | 40.2 |  |  | $ | 7,640 |  |  | 94.5 |  |  | $ | 17,855 |  |  | 18.5 |  |  | $ | 3,126 |
* Total shares do not add due to rounding. In May 2019 and December 2019, our Board of Directors increased the amount authorized under our stock repurchase program by an additional $5.0 billion and $4.0 billion, respectively. As of December 31, 2019, $6.5 billion remained available under our stock repurchase program. Dividends Our Board of Directors declared quarterly dividends per share of $1.45, $1.32 and $1.15, which were paid in each of the four quarters of 2019, 2018, and 2017, respectively. Historically, we have declared dividends in December of each year, which were paid in the first quarter of the following fiscal year and in March, July and October, which were paid in the second, third and fourth quarters, respectively, of the same fiscal year. Additionally, on December 11, 2019, the Board of Directors declared a quarterly cash dividend of $1.60 per share of common stock, which will be paid on March 6, 2020, to all stockholders of record as of the close of business on February 14, 2020. Accumulated other comprehensive income (loss) 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, 2016 | $ | (610 | ) |  | $ | 282 |  |  | $ | (138 | ) |  | $ | (5 | ) |  | $ | (471 | )
Foreign currency translation adjustments | 77 |  |  | — |  |  | — |  |  | — |  |  | 77 |
Unrealized gains (losses) | — |  |  | 192 |  |  | (46 | ) |  | — |  |  | 146 |
Reclassification adjustments to income | — |  |  | (638 | ) |  | 41 |  |  | — |  |  | (597 | )
Other gains | — |  |  | — |  |  | — |  |  | 5 |  |  | 5 |
Income taxes | 4 |  |  | 158 |  |  | (1 | ) |  | — |  |  | 161 |
Balance as of December 31, 2017 | (529 | ) |  | (6 | ) |  | (144 | ) |  | — |  |  | (679 | )
Cumulative effect of change in accounting principle, net of tax | — |  |  | — |  |  | (9 | ) |  | — |  |  | (9 | )
Foreign currency translation adjustments | (141 | ) |  | — |  |  | — |  |  | — |  |  | (141 | )
Unrealized gains (losses) | — |  |  | 61 |  |  | (556 | ) |  | — |  |  | (495 | )
Reclassification adjustments to income | — |  |  | 262 |  |  | 365 |  |  | — |  |  | 627 |
Other losses | — |  |  | — |  |  | — |  |  | (2 | ) |  | (2 | )
Income taxes | — |  |  | (76 | ) |  | 6 |  |  | — |  |  | (70 | )
Balance as of December 31, 2018 | (670 | ) |  | 241 |  |  | (338 | ) |  | (2 | ) |  | (769 | )
Foreign currency translation adjustments | (48 | ) |  | — |  |  | — |  |  | — |  |  | (48 | )
Unrealized gains | — |  |  | 127 |  |  | 424 |  |  | — |  |  | 551 |
Reclassification adjustments to income | — |  |  | (211 | ) |  | (56 | ) |  | — |  |  | (267 | )
Other losses | — |  |  | — |  |  | — |  |  | (5 | ) |  | (5 | )
Income taxes | — |  |  | 18 |  |  | (8 | ) |  | — |  |  | 10 |
Balance as of December 31, 2019 | $ | (718 | ) |  | $ | 175 |  |  | $ | 22 |  |  | $ | (7 | ) |  | $ | (528 | )
With respect to the table above, income tax expenses or benefits for unrealized gains and losses and the related reclassification adjustments to income for cash flow hedges were a $28 million expense and a $46 million benefit in 2019, a $21 million expense and a $55 million expense in 2018 and a $68 million expense and a $226 million benefit in 2017, respectively. Income tax expenses or benefits for unrealized gains and losses and the related reclassification adjustments to income for available-for-sale securities were a $22 million expense and a $14 million benefit in 2019, a $9 million benefit and a $3 million expense in 2018 and a $9 million expense and an $8 million benefit in 2017, respectively. Reclassifications out of AOCI and into earnings were as follows (in millions):
|  | Years ended December 31, |  |
Components of AOCI |  | 2019 |  | 2018 |  | 2017 |  | Consolidated Statements of Income locations
Cash flow hedges: |  |  |  |  |  |  |  |
Foreign currency contract gains (losses) |  | $ | 101 |  |  | $ | (21 | ) |  | $ | 65 |  |  | Product sales
Cross-currency swap contract gains (losses) |  | 110 |  |  | (241 | ) |  | 574 |  |  | Interest and other income, net
Forward interest rate contract losses |  | — |  |  | — |  |  | (1 | ) |  | Interest expense, net
|  | 211 |  |  | (262 | ) |  | 638 |  |  | Income before income taxes
|  | (46 | ) |  | 55 |  |  | (226 | ) |  | Provision for income taxes
|  | $ | 165 |  |  | $ | (207 | ) |  | $ | 412 |  |  | Net income
Available-for-sale securities: |  |  |  |  |  |  |  |
Net realized gains (losses) |  | $ | 56 |  |  | $ | (365 | ) |  | $ | (41 | ) |  | Interest and other income, net
|  | (14 | ) |  | 3 |  |  | (8 | ) |  | Provision for income taxes
|  | $ | 42 |  |  | $ | (362 | ) |  | $ | (49 | ) |  | Net income
Other In addition to common stock, our authorized capital includes 5 million shares of preferred stock, $0.0001 par value. As of December 31, 2019 and 2018, no shares of preferred stock were issued or outstanding.

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration