Equity

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

EQUITY

5.    EQUITY

Treasury Stock

We purchase shares of our outstanding common stock as authorized by our board of directors (Board), including under share purchase programs (described in the table below) and with respect to our employee stock-based compensation plans. During the three and nine months ended September 30, 2024, we purchased for treasury 3,798,836 shares and 17,054,864 shares, respectively. During the three and nine months ended September 30, 2023, we purchased for treasury 12,805,162 shares and 32,219,955 shares, respectively.

Our Board authorized us to purchase shares of our outstanding common stock under various programs with no expiration dates as follows (in millions):

Program Name	Authorization Date	Total Cost Authorized		Completion of Authorized Share Purchases	Remaining Available for Purchase as of September 30, 2024
September 2023 Program	September 15, 2023	$	2,500	Third quarter of 2024	$	—
February 2024 Program	February 22, 2024	2,500		n/a	2,080
September 2024 Program	September 19, 2024	2,500		n/a	2,500

Common Stock Dividends

On October 29, 2024, our Board declared a quarterly cash dividend of $1.07 per common share payable on December 20, 2024 to holders of record at the close of business on November 20, 2024.

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss by component, net of tax, were as follows (in millions):

	Three Months Ended September 30,
	2024								2023
	Foreign Currency Translation Adjustment		Defined Benefit Plans Items		Gains (Losses) on Cash Flow Hedges		Total		Foreign Currency Translation Adjustment		Defined Benefit Plans Items		Gains (Losses) on Cash Flow Hedges		Total
Balance as of beginning of period	$	(993)	$	(170)	$	(9)	$	(1,172)	$	(774)	$	(193)	$	(4)	$	(971)
Other comprehensive income (loss) before reclassifications	326		—		33		359		(315)		—		(77)		(392)
Amounts reclassified from accumulated other comprehensive loss	—		(5)		(16)		(21)		—		(7)		47		40
Effect of exchange rates	—		4		—		4		—		(2)		—		(2)
Other comprehensive income (loss)	326		(1)		17		342		(315)		(9)		(30)		(354)
Balance as of end of period	$	(667)	$	(171)	$	8	$	(830)	$	(1,089)	$	(202)	$	(34)	$	(1,325)

	Nine Months Ended September 30,
	2024								2023
	Foreign Currency Translation Adjustment		Defined Benefit Plans Items		Gains (Losses) on Cash Flow Hedges		Total		Foreign Currency Translation Adjustment		Defined Benefit Plans Items		Gains (Losses) on Cash Flow Hedges		Total
Balance as of beginning of period	$	(735)	$	(162)	$	27	$	(870)	$	(1,168)	$	(183)	$	(8)	$	(1,359)
Other comprehensive income (loss) before reclassifications	68		—		18		86		79		—		(28)		51
Amounts reclassified from accumulated other comprehensive loss	—		(12)		(37)		(49)		—		(20)		2		(18)
Effect of exchange rates	—		3		—		3		—		1		—		1
Other comprehensive income (loss)	68		(9)		(19)		40		79		(19)		(26)		34
Balance as of end of period	$	(667)	$	(171)	$	8	$	(830)	$	(1,089)	$	(202)	$	(34)	$	(1,325)