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Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2024
Equity [Abstract]  
Schedule of Rollforward of Stockholders' Equity
The following tables provide a rollforward of our stockholders' equity for the three months ended June 30, 2024 and 2023 ($ in millions except per share data; share data in thousands):
Common StockTreasury StockAdditional
Paid-in Capital		Accumulated
Dividends		AOCI (Loss)Retained
Earnings		Total Common Stockholders' Equity
SharesAmountSharesAmount
Balance as of December 31, 202394,630 $— (151)$(56)$18,596 $(8,695)$(1,290)$3,934 $12,489 
Net income — — — — — — — 231 231 
Other comprehensive loss— — — — — — (208)— (208)
Issuance of common stock and release of treasury stock for employee equity awards407 — 18 6 42 — — — 48 
Dividend distribution on common stock, $4.26 per share
— — — — — (402)— — (402)
Settlement of accrued dividends on vested equity awards— — — — — (1)— — (1)
Accrued dividends on unvested equity awards— — — — — 1 — — 1 
Stock-based compensation, net of estimated forfeitures— — — — 141 — — — 141 
Balance as of March 31, 202495,037 — (133)(50)18,779 (9,097)(1,498)4,165 12,299 
Net income— — — — — — — 301 301 
Other comprehensive loss— — — — — — (43)— (43)
Issuance of common stock and release of treasury stock for employee equity awards35 — 6 2 — — — — 2 
Dividend distribution on common stock, $4.26 per share
— — — — — (405)— — (405)
Accrued dividends on unvested equity awards— — — — — (12)— — (12)
Stock-based compensation, net of estimated forfeitures— — — — 136 — — — 136 
Balance as of June 30, 202495,072 $— (127)$(48)$18,915 $(9,514)$(1,541)$4,466 $12,278 
Common StockTreasury StockAdditional
Paid-in Capital		Accumulated
Dividends		AOCI (Loss)Retained
Earnings		Total Common Stockholders' Equity
SharesAmountSharesAmount
Balance as of December 31, 202292,814 $— (193)$(72)$17,320 $(7,318)$(1,389)$2,965 $11,506 
Net income — — — — — — — 259 259 
Other comprehensive income— — — — — — 104 — 104 
Issuance of common stock and release of treasury stock for employee equity awards420 — 16 6 38 — — — 44 
Issuance of common stock under ATM Program458 — — — 301 — — — 301 
Dividend distribution on common stock, $3.41 per share
— — — — — (319)— — (319)
Accrued dividends on unvested equity awards— — — — — (2)— — (2)
Stock-based compensation, net of estimated forfeitures— — — — 136 — — — 136 
Balance as of March 31, 202393,692 — (177)(66)17,795 (7,639)(1,285)3,224 12,029 
Net income— — — — — — — 207 207 
Other comprehensive loss— — — — — — (3)— (3)
Issuance of common stock and release of treasury stock for employee equity awards45 — 5 2 1 — — — 3 
Dividend distribution on common stock, $3.41 per share
— — — — — (319)— — (319)
Accrued dividends on unvested equity awards— — — — — (5)— — (5)
Stock-based compensation, net of estimated forfeitures— — — — 113 — — — 113 
Balance as of June 30, 202393,737 $— (172)$(64)$17,909 $(7,963)$(1,288)$3,431 $12,025 
Schedule of Changes in Accumulated Other Comprehensive Loss
The changes in accumulated other comprehensive loss, net of tax, by component are as follows (in millions):
Balance as of December 31,
2023		Net
Change		Balance as of June 30,
2024
Foreign currency translation adjustment (“CTA”) loss$(1,588)$(436)$(2,024)
Unrealized gain on cash flow hedges (1)
15 31 46 
Net investment hedge CTA gain (1)
284 154 438 
Net actuarial loss on defined benefit plans (2)
(1)— (1)
Total accumulated other comprehensive loss
$(1,290)$(251)$(1,541)
(1)Refer to Note 5 for a discussion of the amounts reclassified from accumulated other comprehensive loss to net income.
(2)We have two defined benefit pension plans covering all employees in two countries where such plans are mandated by law. We do not have any defined benefit plans in any other countries.
Schedule of Sale of Stock by Activity Program
Activity under the 2020 and 2022 ATM Programs is summarized as follows ($ in millions except per share data; shares in thousands):
Contractual Maturity DatesExecution Date
Number of Shares (1)
Weighted Average Price per Share (2)
Settlement Value (2)
Outstanding, December 31, 2022February 2023 to November 2023458 $657.75 $302 
Forward Sale Agreements ExecutedFebruary 2024 to December 2024May 2023 to December 20231,208 767.12 926 
Forward Sale Shares Physically SettledFebruary 2023 to March 2024February 2023 to November 2023(1,023)718.59 735 
Outstanding, December 31, 2023November 2024643 $776.23 $499 
Outstanding, June 30, 2024November 2024643 $786.44 $506 
(1)For agreements settled, the amount represents the actual number of shares issued. For agreements executed and outstanding, the amount represents the number of shares that we would issue upon physical settlement. As of June 30, 2024, the maximum number of shares that could be required to be issued to net share settle the outstanding agreements was 1,287 (in thousands).
(2)For agreements settled, the value represents the actual weighted average settlement value, net of payment of commissions to sales agents and other offering expenses. For agreements executed and outstanding, the value represents the forward amount that we would receive upon physical settlement as of that date and will be subject to adjustments for a discount rate factor equal to a specified benchmark rate less a spread minus scheduled dividends during the terms of the agreements.
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
June 30,		Six Months Ended
June 30,
 2024202320242023
Cost of revenues$15 $12 $28 $23 
Sales and marketing25 23 46 43 
General and administrative85 69 152 137 
Total$125 $104 $226 $203