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Stockholders' Equity and Noncontrolling Interests
 6 Months Ended
Jun. 30, 2025
Stockholders' Equity Note [Abstract]  
Stockholders' Equity and Noncontrolling Interests Stockholders' Equity and Noncontrolling Interests
We have 2.0 billion shares of preferred stock and 5.0 billion shares of common stock authorized for issuance. We had no shares of preferred stock issued and outstanding at June 30, 2025 and December 31, 2024. We had 957 million and 995 million shares of common stock issued and outstanding at June 30, 2025 and December 31, 2024.

Common Stock Holders of our common stock are entitled to dividends at the sole discretion of our Board of Directors. Our total dividends paid on common stock were $144 million and $260 million for the three and six months ended June 30, 2025 and $136 million and $274 million for the three and six months ended June 30, 2024.

In February 2025, our Board of Directors increased the capacity under our existing share repurchase program by $6.0 billion to an aggregate of $6.3 billion and approved an accelerated share repurchase (ASR) program to repurchase an aggregate amount of $2.0 billion of our common stock. In February 2025, pursuant to the agreements entered into in connection with the ASR (collectively, the ASR Agreements), we advanced the $2.0 billion and received an initial delivery of approximately 33 million shares of our common stock with a value of $1.6 billion, which were immediately retired. In the three months ended June 30, 2025, we received and retired 10 million additional shares upon settlement of the transactions contemplated under the ASR program. The final number of shares received was based on the average of the daily volume-weighted average prices of our common stock during the term of the ASR Agreements, less a discount pursuant to the terms and conditions of the ASR Agreements.

In the six months ended June 30, 2025 and 2024, in addition to shares received under ASR programs, we repurchased an insignificant amount and approximately 31 million shares of our outstanding common stock for $1.4 billion.

Cruise Common and Preferred Shares In February 2025, we acquired all of the Cruise common shares and Cruise Class F and Class G Preferred Shares held by noncontrolling shareholders for an insignificant amount. We have completed the process of compensating a majority of the former Cruise shareholders. In the three months ended June 30, 2025, there were no changes in our ownership interest in Cruise. During the six months ended June 30, 2025, the effect on the equity attributable to us for changes in our ownership interest in Cruise was insignificant for Cruise common shares.

During the three and six months ended June 30, 2025, net income attributable to shareholders and transfers to the noncontrolling interest in Cruise and other subsidiaries were $1.9 billion and $5.2 billion, which includes a $538 million increase in equity attributable to us, mainly due to the redemption of Cruise preferred shares in February 2025.
The following table summarizes the significant components of Accumulated other comprehensive loss:
Three Months EndedSix Months Ended
June 30, 2025June 30, 2024June 30, 2025June 30, 2024
Foreign Currency Translation Adjustments
Balance at beginning of period$(3,482)$(2,750)$(3,630)$(2,457)
Other comprehensive income (loss) and noncontrolling interests, net of reclassification adjustment and tax(a)(b)(c)350 (405)497 (698)
Balance at end of period$(3,133)$(3,155)$(3,133)$(3,155)
Defined Benefit Plans
Balance at beginning of period$(7,706)$(7,589)$(7,669)$(7,665)
Other comprehensive income (loss) and noncontrolling interests before reclassification adjustment, net of tax(a)(c)(166)22 (225)73 
Reclassification adjustment, net of tax(c)23 24 46 49 
Other comprehensive income (loss) and noncontrolling interests, net of reclassification adjustment and tax(a)(c)(142)45 (179)121 
Balance at end of period(d)$(7,848)$(7,544)$(7,848)$(7,544)
Unrealized Income (Loss) on Cash Flow Hedges
Balance at beginning of period$68 $(5)$86 $(20)
Other comprehensive income (loss) and noncontrolling interest before reclassification adjustment, net of tax(a)(c)447 (36)698(188)
Reclassification adjustment, net of tax(c)(485)57 (754)224
Other comprehensive income (loss), net of tax(a)(c)(38)21 (57)36
Balance at end of period$30 $16 $30 $16 
__________
(a)The noncontrolling interests were insignificant in the three and six months ended June 30, 2025 and 2024.
(b)The reclassification adjustment was insignificant in the three and six months ended June 30, 2025 and 2024.
(c)The income tax effect was insignificant in the three and six months ended June 30, 2025 and 2024.
(d)Primarily consists of unamortized actuarial loss on our defined benefit plans. Refer to Note 2. Significant Accounting Policies of our 2024 Form 10-K for additional information.