v3.26.1
Stockholders' equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders' equity Stockholders’ equity
Stock repurchase program
During the six months ended June 30, 2026 and 2025, we did not repurchase shares under our stock repurchase program. As of June 30, 2026, $6.8 billion of authorization remained available under the stock repurchase program.
Dividends
In December 2025 and March 2026, our Board of Directors declared quarterly cash dividends of $2.52 per share of common stock for the first and second quarters of 2026, respectively, which were paid in March 2026 and June 2026, respectively. In July 2026, our Board of Directors declared a quarterly cash dividend of $2.52 per share, which will be paid in September 2026.
Accumulated other comprehensive income (loss)
The components of AOCI were as follows (in millions):
Foreign
currency
translation adjustments
Cash flow
hedges		OtherAOCI
Balance as of March 31, 2026
$(207)$(13)$30 $(190)
Foreign currency translation adjustments(22)— — (22)
Unrealized gains— 113 — 113 
Reclassification adjustments into earnings
— 4 — 4 
Other— — (1)(1)
Income taxes— (23)— (23)
Balance as of June 30, 2026
$(229)$81 $29 $(119)
Foreign
currency
translation adjustments
Cash flow
hedges		OtherAOCI
Balance as of December 31, 2025$(202)$(90)$34 $(258)
Foreign currency translation adjustments(27)— — (27)
Unrealized gains— 98 — 98 
Reclassification adjustments into earnings
— 117 — 117 
Other— — (5)(5)
Income taxes— (44)— (44)
Balance as of June 30, 2026
$(229)$81 $29 $(119)
Reclassifications out of AOCI and into earnings, including related income tax expenses, were as follows (in millions):
Three months ended June 30,Condensed Consolidated
Statements of Income locations
Components of AOCI20262025
Cash flow hedges:
Foreign currency forward contract (losses) gains$(13)$12 Product sales
Cross-currency swap contract gains9 172 Other (expense) income, net
(4)184 Income before income taxes
1 (40)Provision for income taxes
$(3)$144 Net income
Six months ended June 30,Condensed Consolidated
Statements of Income locations
Components of AOCI20262025
Cash flow hedges:
Foreign currency forward contract (losses) gains$(49)$68 Product sales
Cross-currency swap contract (losses) gains(68)255 Other (expense) income, net
(117)323 Income before income taxes
25 (70)Provision for income taxes
$(92)$253 Net income