Equity

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

EQUITY

6.    EQUITY

Treasury Stock

We purchase shares of our outstanding common stock as authorized by our board of directors (Board), including under share purchase programs and with respect to our employee stock-based compensation plans. During the three and six months ended June 30, 2022, we purchased for treasury 14,211,408 shares for $1.7 billion and 15,757,281 shares for $1.9 billion, respectively. During the three and six months ended June 30, 2021, we purchased for treasury 7,072 shares for $1 million and 228,060 shares for $15 million, respectively. On January 23, 2018, the Board authorized our purchase of up to $2.5 billion of our outstanding common stock with no expiration date (the 2018 Program), and we completed all authorized share purchases under that program during the three months ended June 30, 2022. On July 7, 2022, we announced that our Board authorized our purchase of up to an additional $2.5 billion of our outstanding common stock with no expiration date (the 2022 Program).

Common Stock Dividends

On July 21, 2022, our Board declared a quarterly cash dividend of $0.98 per common share payable on September 1, 2022 to holders of record at the close of business on August 4, 2022.

Accumulated Other Comprehensive Loss

Changes in accumulated other comprehensive loss by component, net of tax, were as follows (in millions):

	Three Months Ended June 30,
	2022								2021
	Foreign Currency Translation Adjustment		Defined Benefit Plans Items		Gains (Losses) on Cash Flow Hedges		Total		Foreign Currency Translation Adjustment		Defined Benefit Plans Items		Gains (Losses) on Cash Flow Hedges		Total
Balance as of beginning of period	$	(549)	$	(437)	$	(23)	$	(1,009)	$	(439)	$	(728)	$	2	$	(1,165)
Other comprehensive income (loss) before reclassifications	(442)		1		(50)		(491)		66		—		(7)		59
Amounts reclassified from accumulated other comprehensive loss	—		4		69		73		—		14		4		18
Effect of exchange rates	—		2		—		2		—		(1)		—		(1)
Other comprehensive income (loss)	(442)		7		19		(416)		66		13		(3)		76
Balance as of end of period	$	(991)	$	(430)	$	(4)	$	(1,425)	$	(373)	$	(715)	$	(1)	$	(1,089)

	Six Months Ended June 30,
	2022								2021
	Foreign Currency Translation Adjustment		Defined Benefit Plans Items		Gains (Losses) on Cash Flow Hedges		Total		Foreign Currency Translation Adjustment		Defined Benefit Plans Items		Gains (Losses) on Cash Flow Hedges		Total
Balance as of beginning of period	$	(562)	$	(441)	$	(5)	$	(1,008)	$	(515)	$	(737)	$	(2)	$	(1,254)
Other comprehensive income (loss) before reclassifications	(429)		(2)		(114)		(545)		142		1		(12)		131
Amounts reclassified from accumulated other comprehensive loss	—		11		115		126		—		22		13		35
Effect of exchange rates	—		2		—		2		—		(1)		—		(1)
Other comprehensive income (loss)	(429)		11		1		(417)		142		22		1		165
Balance as of end of period	$	(991)	$	(430)	$	(4)	$	(1,425)	$	(373)	$	(715)	$	(1)	$	(1,089)