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Stockholders' equity (Tables) | 9 Months Ended
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Sep. 30, 2023
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):
| 2023 |  | 2022
| Shares |  | Dollars |  | Shares |  | Dollars
First quarter | — |  |  | $ | — |  |  | 24.6 |  |  | $ | 5,410 |
Second quarter | — |  |  | — |  |  | — |  |  | — |
Third quarter | — |  |  | — |  |  | 1.5 |  |  | 900 |
Total stock repurchases | — |  |  | $ | — |  |  | 26.1 |  |  | $ | 6,310 |
Components of accumulated other comprehensive income | The components of AOCI were as follows (in millions):
| Foreign currency translation |  | Cash flow hedges |  |  |  | Other |  | AOCI
Balance as of December 31, 2022 | $ | (348) |  |  | $ | 128 |  |  |  |  | $ | (11) |  |  | $ | (231) |
Foreign currency translation adjustments | 28 |  |  | — |  |  |  |  | — |  |  | 28 |
Unrealized losses | — |  |  | (71) |  |  |  |  | — |  |  | (71) |
Reclassification adjustments to income | — |  |  | (30) |  |  |  |  | — |  |  | (30) |
Other | — |  |  | — |  |  |  |  | 21 |  |  | 21 |
Income taxes | — |  |  | 15 |  |  |  |  | — |  |  | 15 |
Balance as of March 31, 2023 | (320) |  |  | 42 |  |  |  |  | 10 |  |  | (268) |
Foreign currency translation adjustments | 11 |  |  | — |  |  |  |  | — |  |  | 11 |
Unrealized gains | — |  |  | 50 |  |  |  |  | — |  |  | 50 |
Reclassification adjustments to income | — |  |  | (87) |  |  |  |  | — |  |  | (87) |
Other | — |  |  | — |  |  |  |  | (1) |  |  | (1) |
Income taxes | — |  |  | 15 |  |  |  |  | — |  |  | 15 |
Balance as of June 30, 2023 | (309) |  |  | 20 |  |  |  |  | 9 |  |  | (280) |
Foreign currency translation adjustments | (44) |  |  | — |  |  |  |  | — |  |  | (44) |
Unrealized gains | — |  |  | 177 |  |  |  |  | — |  |  | 177 |
Reclassification adjustments to income | — |  |  | 53 |  |  |  |  | — |  |  | 53 |
Other | — |  |  | — |  |  |  |  | 17 |  |  | 17 |
Income taxes | — |  |  | (49) |  |  |  |  | — |  |  | (49) |
Balance as of September 30, 2023 | $ | (353) |  |  | $ | 201 |  |  |  |  | $ | 26 |  |  | $ | (126) |
Reclassifications out of accumulated other comprehensive income | Reclassifications out of AOCI and into earnings, including related income tax expenses, were as follows (in millions):
|  | Three months ended September 30, |  |
Components of AOCI |  | 2023 |  | 2022 |  | Condensed Consolidated Statements of Income locations
Cash flow hedges: |  |  |  |  |  |
Foreign currency contract gains |  | $ | 33 |  |  | $ | 69 |  |  | Product sales
Cross-currency swap contract losses |  | (86) |  |  | (198) |  |  | Other income (expense), net
|  | (53) |  |  | (129) |  |  | Income before income taxes
|  | 11 |  |  | 28 |  |  | Provision for income taxes
|  | $ | (42) |  |  | $ | (101) |  |  | Net income
|  | Nine months ended September 30, |  |
Components of AOCI |  | 2023 |  | 2022 |  | Condensed Consolidated Statements of Income locations
Cash flow hedges: |  |  |  |  |  |
Foreign currency contract gains |  | $ | 121 |  |  | $ | 149 |  |  | Product sales
Cross-currency swap contract losses |  | (57) |  |  | (461) |  |  | Other income (expense), net
|  | 64 |  |  | (312) |  |  | Income before income taxes
|  | (14) |  |  | 67 |  |  | Provision for income taxes
|  | $ | 50 |  |  | $ | (245) |  |  | Net income

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