Stockholders' equity

3 Months Ended

Mar. 31, 2019

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):

	2019			2018
	Shares	Dollars		Shares	Dollars
First quarter	15.9	$	3,031	56.4	$	10,787

As of March 31, 2019, $2.1 billion of authority remained available under our stock repurchase program.

Dividends

In March 2019, the Board of Directors declared a quarterly cash dividend of $1.45 per share, which will be paid in June 2019. In December 2018, the Board of Directors declared a quarterly cash dividend of $1.45 per share, which was paid in March 2019.

Accumulated other comprehensive income (loss)

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, 2018	$	(670	)	$	241		$	(338	)	$	(2	)	$	(769	)
Foreign currency translation adjustments	(13		)	—			—			—			(13		)
Unrealized gains	—			30			218			—			248
Reclassification adjustments to income	—			28			4			—			32
Income taxes	—			(13		)	(1		)	—			(14		)
Balance as of March 31, 2019	$	(683	)	$	286		$	(117	)	$	(2	)	$	(516	)

Reclassifications out of AOCI and into earnings were as follows (in millions):

	Three months ended March 31,
Components of AOCI	2019			2018			Condensed Consolidated Statements of Income locations
Cash flow hedges:
Foreign currency contract gains (losses)	$	14		$	(34	)	Product sales
Cross-currency swap contract (losses) gains	(42		)	164			Interest and other income, net
	(28		)	130			Income before income taxes
	6			(28		)	Provision for income taxes
	$	(22	)	$	102		Net income
Available-for-sale securities:
Net realized losses	$	(4	)	$	(134	)	Interest and other income, net
	—			1			Provision for income taxes
	$	(4	)	$	(133	)	Net income