Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2026

Schedule of Rollforward of Stockholders' Equity

The following tables provide a rollforward of our stockholders' equity for the three months ended March 31, 2026 and 2025 ($ in millions except per share data; share data in thousands):


	Common Stock			Treasury Stock			Additional Paid-in Capital		Accumulated Dividends		AOCI (Loss)		Retained Earnings		Common Stockholders' Equity		Non-controlling Interests		Total Stockholders' Equity
	Shares	Amount		Shares	Amount
Balance as of December 31, 2025	98,288	$	—	(62)	$	(24)	$	21,642	$	(12,202)	$	(1,359)	$	6,099	$	14,156	$	(3)	$	14,153

Net income	—	—		—	—		—		—		—		415		415		—		415
Other comprehensive income	—	—		—	—		—		—		16		—		16		—		16
Issuance of common stock and release of treasury stock for employee equity awards	397	—		—	—		49		—		—		—		49		—		49

Dividend distribution on common stock, $5.16 per share	—	—		—	—		—		(508)		—		—		(508)		—		(508)
Settlement of accrued dividends on vested equity awards	—	—		—	—		—		(1)		—		—		(1)		—		(1)
Accrued dividends on unvested equity awards	—	—		—	—		—		4		—		—		4		—		4
Stock-based compensation, net of estimated forfeitures	—	—		—	—		167		—		—		—		167		—		167
Balance as of March 31, 2026	98,685	$	—	(62)	$	(24)	$	21,858	$	(12,707)	$	(1,343)	$	6,514	$	14,298	$	(3)	$	14,295


	Common Stock			Treasury Stock			Additional Paid-in Capital		Accumulated Dividends		AOCI (Loss)		Retained Earnings		Common Stockholders' Equity		Non-controlling interests		Total Stockholders' Equity
	Shares	Amount		Shares	Amount
Balance as of December 31, 2024	97,390	$	—	(103)	$	(39)	$	20,895	$	(10,342)	$	(1,735)	$	4,749	$	13,528	$	(1)	$	13,527

Net income	—	—		—	—		—		—		—		343		343		—		343
Other comprehensive income	—	—		—	—		—		—		176		—		176		—		176
Issuance of common stock and release of treasury stock for employee equity awards	406	—		19	7		42		—		—		—		49		—		49
Issuance of common stock under ATM program	107	—		—	—		99		—		—		—		99		—		99
Dividend distribution on common stock, $4.69 per share	—	—		—	—		—		(457)		—		—		(457)		—		(457)
Settlement of accrued dividends on vested equity awards	—	—		—	—		—		(1)		—		—		(1)		—		(1)
Accrued dividends on unvested equity awards	—	—		—	—		—		2		—		—		2		—		2
Stock-based compensation, net of estimated forfeitures	—	—		—	—		150		—		—		—		150		—		150

Balance as of March 31, 2025	97,903	$	—	(84)	$	(32)	$	21,186	$	(10,798)	$	(1,559)	$	5,092	$	13,889	$	(1)	$	13,888

Schedule of Changes in Accumulated Other Comprehensive Loss

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


	Balance as of December 31, 2025		Net Change		Balance as of March 31, 2026
Foreign CTA gain (loss)	$	(1,607)	$	(45)	$	(1,652)
Net investment hedge CTA gain (loss) (1)	257		18		275
Unrealized gain (loss) on cash flow hedges (1)	(8)		43		35
Net actuarial gain (loss) on defined benefit plans (2)	(1)		—		(1)
	$	(1,359)	$	16	$	(1,343)

(1)Refer to Note 5 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income.

(2)We have two defined benefit pension plans covering all employees in two countries where such plans are mandated by law. We do not have any defined benefit plans in any other countries.

Schedule of Stock-Based Compensation Expense by Operating Expense Category

The following table presents, by operating expense category, our stock-based compensation expense recognized in our condensed consolidated statements of operations (in millions):


	Three Months Ended March 31,
		2026		2025
Cost of revenues		$	16	$	14
Sales and marketing		27		22
General and administrative		85		77
Total		$	128	$	113