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Stockholders' equity (Tables) | 6 Months Ended
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Jun. 30, 2024
Equity [Abstract] |
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, 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) |
Foreign currency translation adjustments | (15) |  |  | — |  |  |  |  | — |  |  | (15) |
Unrealized gains | — |  |  | 117 |  |  |  |  | — |  |  | 117 |
Reclassification adjustments to income | — |  |  | (52) |  |  |  |  | — |  |  | (52) |
Other | — |  |  | — |  |  |  |  | (1) |  |  | (1) |
Income taxes | — |  |  | (14) |  |  |  |  | — |  |  | (14) |
Balance as of June 30, 2024 | $ | (337) |  |  | $ | 155 |  |  |  |  | $ | 27 |  |  | $ | (155) |
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 June 30, |  |
Components of AOCI |  | 2024 |  | 2023 |  | Condensed Consolidated Statements of Income locations
Cash flow hedges: |  |  |  |  |  |
Foreign currency contract gains |  | $ | 55 |  |  | $ | 36 |  |  | Product sales
Cross-currency swap contract (losses) gains |  | (3) |  |  | 51 |  |  | Other (expense) income, net
|  | 52 |  |  | 87 |  |  | Income before income taxes
|  | (11) |  |  | (19) |  |  | Provision for income taxes
|  | $ | 41 |  |  | $ | 68 |  |  | Net income
|  | Six months ended June 30, |  |
Components of AOCI |  | 2024 |  | 2023 |  | Condensed Consolidated Statements of Income locations
Cash flow hedges: |  |  |  |  |  |
Foreign currency contract gains |  | $ | 106 |  |  | $ | 88 |  |  | Product sales
Cross-currency swap contract (losses) gains |  | (34) |  |  | 29 |  |  | Other (expense) income, net
|  | 72 |  |  | 117 |  |  | Income before income taxes
|  | (15) |  |  | (25) |  |  | Provision for income taxes
|  | $ | 57 |  |  | $ | 92 |  |  | Net income

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