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Stockholders' equity (Tables)
6 Months Ended
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
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 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 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