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Stockholders' equity | 3 Months Ended
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Mar. 31, 2024
Equity [Abstract] |
Stockholders' equity | Stockholders’ equity Stock repurchase program During the three months ended March 31, 2024 and 2023, we did not repurchase shares under our stock repurchase program. As of March 31, 2024, $7.0 billion of authorization remained available under our stock repurchase program. Dividends In March 2024, the Board of Directors declared a quarterly cash dividend of $2.25 per share, which will be paid in June 2024. In December 2023, the Board of Directors declared a quarterly cash dividend of $2.25 per share, which was paid in March 2024. Accumulated other comprehensive income (loss) The components of AOCI were as follows (in millions):
| Foreign currency translation |  | Cash flow hedges |  |  |  | Other |  | AOCI
Balance as of December 31, 2023 | $ | (298) |  |  | $ | (22) |  |  |  |  | $ | 31 |  |  | $ | (289) |
Foreign currency translation adjustments | (24) |  |  | — |  |  |  |  | — |  |  | (24) |
Unrealized gains | — |  |  | 178 |  |  |  |  | — |  |  | 178 |
Reclassification adjustments to income | — |  |  | (20) |  |  |  |  | — |  |  | (20) |
Other | — |  |  | — |  |  |  |  | (3) |  |  | (3) |
Income taxes | — |  |  | (32) |  |  |  |  | — |  |  | (32) |
Balance as of March 31, 2024 | $ | (322) |  |  | $ | 104 |  |  |  |  | $ | 28 |  |  | $ | (190) |
Reclassifications out of AOCI and into earnings, including related income tax expenses, were as follows (in millions):
|  | Three months ended March 31, |  |
Components of AOCI |  | 2024 |  | 2023 |  | Condensed Consolidated Statements of (Loss) Income locations
Cash flow hedges: |  |  |  |  |  |
Foreign currency contract gains |  | $ | 51 |  |  | $ | 52 |  |  | Product sales
Cross-currency swap contract losses |  | (31) |  |  | (22) |  |  | Other (expense) income, net
|  | 20 |  |  | 30 |  |  | (Loss) income before income taxes
|  | (4) |  |  | (6) |  |  | Provision for income taxes
|  | $ | 16 |  |  | $ | 24 |  |  | Net (loss) income

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