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Share Repurchase Transactions and Other Comprehensive Loss
 3 Months Ended
Mar. 31, 2023
Federal Home Loan Banks [Abstract]  
Share Repurchases Transactions and Other Comprehensive Loss

NOTE 9 — SHARE REPURCHASE TRANSACTIONS AND OTHER COMPREHENSIVE LOSS

During January 2023 and 2022, our Board of Directors authorized share repurchase programs for up to $3 billion and $8 billion, respectively, of our outstanding common stock. During the quarter ended March 31, 2023, we repurchased 3.340 million shares of our common stock at an average price of $253.26 per share through market purchases pursuant to the January 2022 authorization. At March 31, 2023, we had $3.740 billion of repurchase authorization available under the January 2022 and 2023 authorizations.

The components of accumulated other comprehensive loss are as follows (dollars in millions):

 

Unrealized
Gains (Losses)
on Available-
for-Sale
Securities

 

 

Foreign
Currency
Translation
Adjustments

 

 

Defined
Benefit
Plans

 

 

Total

 

Balances at December 31, 2022

$

(30

)

 

$

(373

)

 

$

(87

)

 

$

(490

)

Unrealized gains on available-for-sale
   securities, net of $2 of income taxes

 

5

 

 

 

 

 

 

 

 

 

5

 

Foreign currency translation adjustments, net
   of $3 of income taxes

 

 

 

 

15

 

 

 

 

 

 

15

 

Balances at March 31, 2023

$

(25

)

 

$

(358

)

 

$

(87

)

 

$

(470

)