Equity

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2023, we purchased for treasury 12,805,162 shares and 32,219,955 shares, respectively. During the three and nine months ended September 30, 2022, we purchased for treasury 8,444,754 shares and 24,202,035 shares, respectively. On October 26, 2022, we announced that our Board authorized us to purchase shares of our outstanding common stock for a total cost of up to $2.5 billion with no expiration date, and we completed all authorized share purchases under that program during the second quarter of 2023. On February 23, 2023, we announced that our Board authorized us to purchase shares of our outstanding common stock for a total cost of up to $2.5 billion with no expiration date (the February 2023 Program). As of September 30, 2023, we had $649 million remaining available for purchase under the February 2023 Program. On September 15, 2023, we announced that our Board authorized us to purchase shares of our outstanding

common stock for a total cost of up to $2.5 billion with no expiration date, which is in addition to the amount remaining under the February 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 September 30,
	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	$	(774)	$	(193)	$	(4)	$	(971)	$	(991)	$	(430)	$	(4)	$	(1,425)
Other comprehensive income (loss) before reclassifications	(315)		—		(77)		(392)		(606)		—		30		(576)
Amounts reclassified from accumulated other comprehensive loss	—		(7)		47		40		—		7		(3)		4
Effect of exchange rates	—		(2)		—		(2)		—		—		—		—
Other comprehensive income (loss)	(315)		(9)		(30)		(354)		(606)		7		27		(572)
Balance as of end of period	$	(1,089)	$	(202)	$	(34)	$	(1,325)	$	(1,597)	$	(423)	$	23	$	(1,997)

	Nine Months Ended September 30,
	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	79		—		(28)		51		(1,035)		(2)		(84)		(1,121)
Amounts reclassified from accumulated other comprehensive loss	—		(20)		2		(18)		—		18		112		130
Effect of exchange rates	—		1		—		1		—		2		—		2
Other comprehensive income (loss)	79		(19)		(26)		34		(1,035)		18		28		(989)
Balance as of end of period	$	(1,089)	$	(202)	$	(34)	$	(1,325)	$	(1,597)	$	(423)	$	23	$	(1,997)