Stockholders' equity (Tables)

6 Months Ended

Jun. 30, 2020

Equity [Abstract]

Summary of activity under our stock repurchase program

Activity under our stock repurchase program, on a trade date basis, was as follows (in millions):

	2020			2019
	Shares	Dollars		Shares *	Dollars
First quarter	4.3	$	933	15.9	$	3,031
Second quarter	2.6	591		13.1	2,349
Total stock repurchases	6.9	$	1,524	28.9	$	5,380

Components of 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, 2019	$	(718)	$	175	$	22	$	(7)	$	(528)
Foreign currency translation adjustments	(52)		—		—		—		(52)
Unrealized (losses) gains	—		(162)		8		—		(154)
Reclassification adjustments to income	—		84		(33)		—		51
Other	—		—		—		(2)		(2)
Income taxes	—		17		6		—		23
Balance as of March 31, 2020	(770)		114		3		(9)		(662)
Foreign currency translation adjustments	(3)		—		—		—		(3)
Unrealized losses	—		(30)		(2)		—		(32)
Reclassification adjustments to income	—		(119)		—		—		(119)
Other	—		—		—		—		—
Income taxes	—		33		—		—		33
Balance as of June 30, 2020	$	(773)	$	(2)	$	1	$	(9)	$	(783)

Reclassifications out of accumulated other comprehensive income

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

	Three months ended June 30,
Components of AOCI	2020		2019		Condensed Consolidated Statements of Income locations
Cash flow hedges:
Foreign currency contract gains	$	68	$	22	Product sales
Cross-currency swap contract gains	51		14		Interest and other income, net
	119		36		Income before income taxes
	(26)		(8)		Provision for income taxes
	$	93	$	28	Net income
Available-for-sale securities:
Net realized losses	$	—	$	(2)	Interest and other income, net
	—		—		Provision for income taxes
	$	—	$	(2)	Net income

	Six months ended June 30,
Components of AOCI	2020		2019		Condensed Consolidated Statements of Income locations
Cash flow hedges:
Foreign currency contract gains	$	117	$	36	Product sales
Cross-currency swap contract losses	(82)		(28)		Interest and other income, net
	35		8		Income before income taxes
	(8)		(2)		Provision for income taxes
	$	27	$	6	Net income
Available-for-sale securities:
Net realized gains (losses)	$	33	$	(6)	Interest and other income, net
	(7)		—		Provision for income taxes
	$	26	$	(6)	Net income