Share Repurchase Transactions and Other Comprehensive Loss

6 Months Ended

Jun. 30, 2024

Federal Home Loan Banks [Abstract]

Share Repurchases Transactions and Other Comprehensive Loss

NOTE 9 — SHARE REPURCHASE TRANSACTIONS AND OTHER COMPREHENSIVE LOSS

During January 2024 and 2023, our Board of Directors authorized share repurchase programs for up to $6 billion and $3 billion, respectively, of our outstanding common stock. During the six months ended June 30, 2024, we repurchased 8.111 million shares of our common stock at an average price of $314.03 per share through market purchases pursuant to the January 2023 authorization (which was completed during the first quarter of 2024) and the January 2024 authorization. At June 30, 2024, we had $4.228 billion of repurchase authorization available under the January 2024 authorization.

The components of accumulated other comprehensive loss are as follows (dollars in millions):

	Unrealized Losses on Available- for-Sale Securities			Foreign Currency Translation Adjustments			Defined Benefit Plans			Total
Balances at December 31, 2023	$	(22	)	$	(339	)	$	(64	)	$	(425	)
Unrealized losses on available-for-sale    securities, net of $1 income tax benefit		(2	)								(2	)
Foreign currency translation adjustments, net    of $1 income tax benefit					(6	)					(6	)
Balances at June 30, 2024	$	(24	)	$	(345	)	$	(64	)	$	(433	)