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Stockholders' Equity and Noncontrolling Interests
 9 Months Ended
Sep. 30, 2026
Stockholders' Equity Note [Abstract]  
Stockholders' Equity and Noncontrolling Interests Stockholders' Equity and Noncontrolling Interests
We have 2.0 billion shares of preferred stock and 5.0 billion shares of common stock authorized for issuance. We had no shares of preferred stock issued and outstanding at September 30, 2026 and December 31, 2025. We had 849 million and 904 million shares of common stock issued and outstanding at September 30, 2026 and December 31, 2025.
Common Stock Holders of our common stock are entitled to dividends at the sole discretion of our Board of Directors. Our dividends declared per common share were $0.18 and $0.54 for the three and nine months ended September 30, 2026 and $0.15 and $0.42 for the three and nine months ended September 30, 2025. Our total dividends paid on common stock were $156 million and $480 million for the three and nine months ended September 30, 2026 and $141 million and $401 million for the three and nine months ended September 30, 2025.

In February 2025, we executed an accelerated share repurchase (ASR) program to repurchase an aggregate amount of $2.0 billion of our outstanding common stock. In the nine months ended September 30, 2025, we received and retired 43 million shares to complete the program.

In January 2026, our Board of Directors increased the capacity under our existing share repurchase program by $6.0 billion to an aggregate of $6.3 billion, which we fully utilized in October 2026. Our Board of Directors authorized, in October 2026, $20.0 billion of additional repurchases under our existing share repurchase program, with no expiration date.

In the nine months ended September 30, 2026 and 2025, in addition to the shares repurchased under the ASR program, we repurchased 65 million and 27 million outstanding shares of our common stock for $5.3 billion and $1.5 billion.

Cruise Common and Preferred Shares In February 2025, we acquired all of the Cruise common shares and Cruise Class F and Class G Preferred Shares held by noncontrolling shareholders for an insignificant amount. We have completed the process of compensating the former Cruise shareholders.

During the three and nine months ended September 30, 2025, net income attributable to stockholders and transfers to the noncontrolling interest in Cruise and other subsidiaries were $1.3 billion and $6.5 billion, which includes a $538 million increase in equity attributable to us, primarily due to the redemption of Cruise preferred shares in February 2025.
The following table summarizes the significant components of Accumulated other comprehensive loss:
Three Months EndedNine Months Ended
September 30, 2026September 30, 2025September 30, 2026September 30, 2025
Foreign Currency Translation Adjustments
Balance at beginning of period$(3,208)$(3,133)$(3,277)$(3,630)
Other comprehensive income (loss) and noncontrolling interests, net of reclassification adjustment and tax(a)(b)(c)147 (63)216 435 
Balance at end of period$(3,061)$(3,195)$(3,061)$(3,195)
Defined Benefit Plans
Balance at beginning of period$(7,220)$(7,848)$(7,330)$(7,669)
Other comprehensive income (loss) and noncontrolling interests before reclassification adjustment, net of tax(a)(c)6 28 62 (197)
Reclassification adjustment, net of tax(c)22 23 75 69 
Other comprehensive income (loss) and noncontrolling interests, net of reclassification adjustment and tax(a)(c)28 50 138 (129)
Balance at end of period(d)$(7,192)$(7,798)$(7,192)$(7,798)
Unrealized Gain (Loss) on Cash Flow Hedges
Balance at beginning of period$256 $30 $226 $86 
Other comprehensive income (loss) and noncontrolling interests before reclassification adjustment, net of tax(a)(c)29 120 69799
Reclassification adjustment, net of tax(c)(134)18 (143)(717)
Other comprehensive income (loss), net of tax(a)(c)(104)139 (74)83
Balance at end of period$152 $169 $152 $169 
__________
(a)The noncontrolling interests were insignificant in the three and nine months ended September 30, 2026 and 2025.
(b)The reclassification adjustment was insignificant in the three and nine months ended September 30, 2026 and 2025.
(c)The income tax effect was insignificant in the three and nine months ended September 30, 2026 and 2025.
(d)Primarily consists of unamortized actuarial loss on our defined benefit plans. Refer to Note 2. Significant Accounting Policies of our 2025 Form 10-K for additional information.