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Stockholders' equity | 9 Months Ended
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Sep. 30, 2025
Equity [Abstract] |
Stockholders' equity | Stockholders’ equity Stock repurchase program During the nine months ended September 30, 2025 and 2024, we did not repurchase shares under our stock repurchase program. As of September 30, 2025, $6.8 billion of authorization remained available under the stock repurchase program. Dividends In August 2025, March 2025 and December 2024, our Board of Directors declared quarterly cash dividends of $2.38 per share, which were paid in September 2025, June 2025 and March 2025, respectively. In October 2025, our Board of Directors declared a quarterly cash dividend of $2.38 per share, which will be paid in December 2025. Accumulated other comprehensive income (loss) The components of AOCI were as follows (in millions):
| Foreign currency translation adjustments |  | Cash flow hedges |  |  |  | Other |  | AOCI
Balance as of June 30, 2025 | $ | (231) |  |  | $ | (335) |  |  |  |  | $ | 22 |  |  | $ | (544) |
Foreign currency translation adjustments | 11 |  |  | — |  |  |  |  | — |  |  | 11 |
Unrealized gains | — |  |  | 73 |  |  |  |  | — |  |  | 73 |
Reclassification adjustments into earnings | — |  |  | 67 |  |  |  |  | — |  |  | 67 |
Other | — |  |  | — |  |  |  |  | 1 |  |  | 1 |
Income taxes | — |  |  | (30) |  |  |  |  | — |  |  | (30) |
Balance as of September 30, 2025 | $ | (220) |  |  | $ | (225) |  |  |  |  | $ | 23 |  |  | $ | (422) |
| Foreign currency translation adjustments |  | Cash flow hedges |  |  |  | Other |  | AOCI
Balance as of December 31, 2024 | $ | (374) |  |  | $ | 287 |  |  |  |  | $ | 21 |  |  | $ | (66) |
Foreign currency translation adjustments | 154 |  |  | — |  |  |  |  | — |  |  | 154 |
Unrealized losses | — |  |  | (396) |  |  |  |  | — |  |  | (396) |
Reclassification adjustments into earnings | — |  |  | (256) |  |  |  |  | — |  |  | (256) |
Other | — |  |  | — |  |  |  |  | 2 |  |  | 2 |
Income taxes | — |  |  | 140 |  |  |  |  | — |  |  | 140 |
Balance as of September 30, 2025 | $ | (220) |  |  | $ | (225) |  |  |  |  | $ | 23 |  |  | $ | (422) |
Reclassifications out of AOCI and into earnings, including related income tax expenses, were as follows (in millions):
|  | Three months ended September 30, |  | Condensed Consolidated Statements of Income locations
Components of AOCI |  | 2025 |  | 2024 |
Cash flow hedges: |  |  |  |  |  |
Foreign currency forward contract (losses) gains |  | $ | (28) |  |  | $ | 45 |  |  | Product sales
Cross-currency swap contract (losses) gains |  | (39) |  |  | 121 |  |  | Other income, net
|  | (67) |  |  | 166 |  |  | Income before income taxes
|  | 14 |  |  | (36) |  |  | Provision for income taxes
|  | $ | (53) |  |  | $ | 130 |  |  | Net income
|  | Nine months ended September 30, |  | Condensed Consolidated Statements of Income locations
Components of AOCI |  | 2025 |  | 2024 |
Cash flow hedges: |  |  |  |  |  |
Foreign currency forward contract gains |  | $ | 40 |  |  | $ | 151 |  |  | Product sales
Cross-currency swap contract gains |  | 216 |  |  | 87 |  |  | Other income, net
|  | 256 |  |  | 238 |  |  | Income before income taxes
|  | (56) |  |  | (51) |  |  | Provision for income taxes
|  | $ | 200 |  |  | $ | 187 |  |  | Net income

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