XML 37 R18.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Stockholders' equity
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Stockholders' equity Stockholders’ equity
Stock repurchase program
During the six months ended June 30, 2024 and 2023, we did not repurchase shares under our stock repurchase program. As of June 30, 2024, $7.0 billion of authorization remained available under our stock repurchase program.
Dividends
In March 2024 and December 2023, our Board of Directors declared quarterly cash dividends of $2.25 per share, which were paid in June 2024 and March 2024, respectively. In August 2024, our Board of Directors declared a quarterly cash dividend of $2.25 per share that will be paid in September 2024.
Accumulated other comprehensive income (loss)
The components of AOCI were as follows (in millions):
Foreign
currency
translation		Cash flow
hedges		OtherAOCI
Balance as of December 31, 2023$(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 AOCI and into earnings, including related income tax expenses, were as follows (in millions):
Three months ended June 30,
Components of AOCI20242023Condensed 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 AOCI20242023Condensed 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