Stockholders' equity (Tables)

9 Months Ended

Sep. 30, 2023

Activity under our stock repurchase program, on a trade date basis, was as follows (in millions):

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 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