Equity

3 Months Ended

Mar. 31, 2023

Equity [Abstract]

EQUITY

5.    EQUITY

Treasury Stock

We purchase shares of our outstanding common stock as authorized by our board of directors (Board), including under share purchase programs (described below) and with respect to our employee stock-based compensation plans.

During the three months ended March 31, 2023 and 2022, we purchased for treasury 10,993,341 shares and 1,545,873 shares, respectively. On October 26, 2022, our Board authorized our purchase of up to $2.5 billion of our outstanding common stock with no expiration date (the October 2022 Program). On February 23, 2023, our Board authorized our purchase of up to an additional $2.5 billion of our outstanding common stock with no expiration date (the 2023 Program),which is in addition to the amount remaining under the October 2022 Program. As of March 31, 2023, we had $899 million remaining available for purchase under the October 2022 Program and $2.5 billion available for purchase under the 2023 Program.

Accumulated Other Comprehensive Loss

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

	Three Months Ended March 31,
	2023								2022
	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	$	(1,168)	$	(183)	$	(8)	$	(1,359)	$	(562)	$	(441)	$	(5)	$	(1,008)
Other comprehensive income (loss) before reclassifications	137		—		37		174		13		(3)		(64)		(54)
Amounts reclassified from accumulated other comprehensive loss	—		(7)		(15)		(22)		—		7		46		53
Effect of exchange rates	—		2		—		2		—		—		—		—
Other comprehensive income (loss)	137		(5)		22		154		13		4		(18)		(1)
Balance as of end of period	$	(1,031)	$	(188)	$	14	$	(1,205)	$	(549)	$	(437)	$	(23)	$	(1,009)