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Stockholders' equity
 12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Stockholders' equity
Stockholders’ equity
Stock repurchase program
Activity under our stock repurchase program, on a trade date basis, was as follows (in millions):
 
During the years ended December 31,
 
2016
 
2015
 
2014
 
Shares
 
Dollars
 
Shares
 
Dollars
 
Shares
 
Dollars
First quarter
4.7

 
$
690

 
2.9

 
$
451

 
—

 
$
—

Second quarter
3.9

 
591

 
3.3

 
515

 
—

 
—

Third quarter
4.4

 
747

 
4.6

 
703

 
—

 
—

Fourth quarter
6.7

 
999

 
1.2

 
184

 
0.9

 
153

Total stock repurchases
19.7

 
$
3,027

 
12.0

 
$
1,853

 
0.9

 
$
153


As of December 31, 2016, $4.1 billion, remained available under our stock repurchase program.
Dividends
Our Board of Directors declared quarterly dividends per share of $1.00, $0.79, and $0.61 that were paid in each of the four quarters of 2016, 2015, and 2014, respectively.
Historically, each year we have declared dividends in December that were paid in the first quarter of the following fiscal year, and in March, July and October that were paid in the second, third and fourth quarters, respectively, of the same fiscal year.
Additionally, on December 20, 2016, the Board of Directors declared a quarterly cash dividend of $1.15 per share of common stock, which will be paid on March 8, 2017, to all stockholders of record as of the close of business on February 15, 2017.
Accumulated other comprehensive income
The components of accumulated other comprehensive income/(loss) (AOCI) were as follows (in millions):
 
Foreign
currency
translation
 
Cash flow
hedges
 
Available-for-sale
securities
 
Other
 
AOCI
Balance as of December 31, 2013
$
(68
)
 
$
(33
)
 
$
(43
)
 
$
(17
)
 
$
(161
)
Foreign currency translation adjustments
(218
)
 
—

 
—

 
—

 
(218
)
Unrealized gains
—

 
298

 
37

 
1

 
336

Reclassification adjustments to income
—

 
203

 
1

 
—

 
204

Other
—

 
—

 
—

 
1

 
1

Income taxes
22

 
(178
)
 
(14
)
 
—

 
(170
)
Balance as of December 31, 2014
(264
)
 
290

 
(19
)
 
(15
)
 
(8
)
Foreign currency translation adjustments
(257
)
 
—

 
—

 
—

 
(257
)
Unrealized gains (losses)
—

 
150

 
(299
)
 
8

 
(141
)
Reclassification adjustments to income
—

 
(143
)
 
76

 
—

 
(67
)
Other
—

 
—

 
—

 
1

 
1

Income taxes
10

 
—

 
(18
)
 
—

 
(8
)
Balance as of December 31, 2015
(511
)
 
297

 
(260
)
 
(6
)
 
(480
)
Foreign currency translation adjustments
(93
)
 
—

 
—

 
—

 
(93
)
Unrealized (losses) gains
—

 
(176
)
 
63

 
—

 
(113
)
Reclassification adjustments to income
—

 
139

 
61

 
—

 
200

Other
—

 
—

 
—

 
1

 
1

Income taxes
(6
)
 
22

 
(2
)
 
—

 
14

Balance as of December 31, 2016
$
(610
)
 
$
282

 
$
(138
)
 
$
(5
)
 
$
(471
)

Income tax expenses/benefits for unrealized gains and losses and the related reclassification adjustments to income for cash flow hedges were a $68 million benefit and $46 million expense in 2016, a $53 million expense and $53 million benefit in 2015 and a $104 million expense and $74 million expense in 2014, respectively. Income tax expenses/benefits for unrealized gains and losses and the related reclassification adjustments to income for available-for-sale securities were a $9 million benefit and $11 million expense for 2016, a $0 million and $18 million expense in 2015 and a $14 million expense and $0 million in 2014, respectively.
The reclassifications out of AOCI to earnings were as follows (in millions):
 
 
Year ended December 31,
 
 
Components of AOCI
 
2016
 
2015
 
2014
 
Line item affected in the
Consolidated Statements of Income
Cash flow hedges:
 
 
 
 
 
 
 
 
     Foreign currency contract gains
 
$
308

 
$
326

 
$
28

 
Product sales
     Cross-currency swap contract losses
 
(446
)
 
(182
)
 
(230
)
 
Interest and other income, net
     Forward interest rate contract losses
 
(1
)
 
(1
)
 
(1
)
 
Interest expense, net
 
 
(139
)
 
143

 
(203
)
 
Income before income taxes
 
 
46

 
(53
)
 
74

 
Provision for income taxes
 
 
$
(93
)
 
$
90

 
$
(129
)
 
Net income
Available-for-sale securities:
 
 
 
 
 
 
 
 
     Net realized losses
 
$
(61
)
 
$
(76
)
 
$
(1
)
 
Interest and other income, net
 
 
11

 
18

 
—

 
Provision for income taxes
 
 
$
(50
)
 
$
(58
)
 
$
(1
)
 
Net income

Other
In addition to common stock, our authorized capital includes 5 million shares of preferred stock, $0.0001 par value. As of December 31, 2016 and 2015, no shares of preferred stock were issued or outstanding.