Stockholders' equity (Tables)

12 Months Ended

Dec. 31, 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		Available-for-sale securities		Other		AOCI
Balance as of December 31, 2020	$	(709)	$	(263)	$	1	$	(14)	$	(985)
Foreign currency translation adjustments	(135)		—		—		—		(135)
Unrealized gains (losses)	—		159		(1)		—		158
Reclassification adjustments to income	—		253		—		—		253
Other gains	—		—		—		1		1
Income taxes	—		(88)		—		—		(88)
Balance as of December 31, 2021	(844)		61		—		(13)		(796)

Foreign currency translation adjustments	496		—		—		—		496
Unrealized gains	—		84		—		—		84
Reclassification adjustments to income	—		2		—		—		2
Other gains	—		—		—		2		2
Income taxes	—		(19)		—		—		(19)
Balance as of December 31, 2022	(348)		128		—		(11)		(231)

Foreign currency translation adjustments	50		—		—		—		50
Unrealized gains	—		28		—		—		28
Reclassification adjustments to income	—		(222)		—		—		(222)
Other gains	—		—		—		42		42
Income taxes	—		44		—		—		44
Balance as of December 31, 2023	$	(298)	$	(22)	$	—	$	31	$	(289)

Reclassifications out of AOCI and into earnings were as follows (in millions):


	Years ended December 31,
Components of AOCI	2023		2022		2021		Consolidated Statements of Income locations
Cash flow hedges:
Foreign currency contract gains (losses)	$	180	$	231	$	(8)	Product sales
Cross-currency swap contract gains (losses)	42		(233)		(245)		Other income (expense), net

	222		(2)		(253)		Income before income taxes
	(50)		—		55		Provision for income taxes
	$	172	$	(2)	$	(198)	Net income