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Stockholders' equity
 12 Months Ended
Dec. 31, 2017
Equity [Abstract]  
Stockholders' equity
Stockholders’ equity
Stock repurchase program
Activity under our stock repurchase program, on a trade date basis, was as follows (in millions):
 
Years ended December 31,
 
2017
 
2016
 
2015
 
Shares
 
Dollars
 
Shares
 
Dollars
 
Shares
 
Dollars
First quarter
3.4

 
$
555

 
4.7

 
$
690

 
2.9

 
$
451

Second quarter
6.2

 
1,006

 
3.9

 
591

 
3.3

 
515

Third quarter
4.4

 
769

 
4.4

 
747

 
4.6

 
703

Fourth quarter
4.5

 
796

 
6.7

 
999

 
1.2

 
184

Total stock repurchases
18.5

 
$
3,126

 
19.7

 
$
3,027

 
12.0

 
$
1,853


As of December 31, 2017, $4.4 billion remained available under our stock repurchase program. In January 2018, our Board of Directors authorized an additional $10.0 billion under our stock repurchase program. On February 5, 2018, we announced a tender offer to purchase up to $10.0 billion of our common stock at a price not greater than $200 per share nor less than $175 per share. The tender offer expires at 12:00 Midnight, New York City time, at the end of Monday, March 5, 2018, unless the offer is extended.
Dividends
Our Board of Directors declared quarterly dividends per share of $1.15, $1.00 and $0.79 that were paid in each of the four quarters of 2017, 2016, and 2015, respectively.
Historically, each year we have declared dividends in December that were paid in the first quarter of the following fiscal year, and in March, July and October that were paid in the second, third and fourth quarters, respectively, of the same fiscal year.
Additionally, on December 12, 2017, the Board of Directors declared a quarterly cash dividend of $1.32 per share of common stock, which will be paid on March 8, 2018, to all stockholders of record as of the close of business on February 15, 2018.
Accumulated other comprehensive income (loss)
The components of AOCI were as follows (in millions):
 
Foreign
currency
translation
 
Cash flow
hedges
 
Available-for-sale
securities
 
Other
 
AOCI
Balance as of December 31, 2014
$
(264
)
 
$
290

 
$
(19
)
 
$
(15
)
 
$
(8
)
Foreign currency translation adjustments
(257
)
 
—

 
—

 
—

 
(257
)
Unrealized gains (losses)
—

 
150

 
(299
)
 
8

 
(141
)
Reclassification adjustments to income
—

 
(143
)
 
76

 
—

 
(67
)
Other
—

 
—

 
—

 
1

 
1

Income taxes
10

 
—

 
(18
)
 
—

 
(8
)
Balance as of December 31, 2015
(511
)
 
297

 
(260
)
 
(6
)
 
(480
)
Foreign currency translation adjustments
(93
)
 
—

 
—

 
—

 
(93
)
Unrealized (losses) gains
—

 
(176
)
 
63

 
—

 
(113
)
Reclassification adjustments to income
—

 
139

 
61

 
—

 
200

Other
—

 
—

 
—

 
1

 
1

Income taxes
(6
)
 
22

 
(2
)
 
—

 
14

Balance as of December 31, 2016
(610
)
 
282

 
(138
)
 
(5
)
 
(471
)
Foreign currency translation adjustments
77

 
—

 
—

 
—

 
77

Unrealized gains (losses)
—

 
192

 
(46
)
 
—

 
146

Reclassification adjustments to income
—

 
(638
)
 
41

 
—

 
(597
)
Other
—

 
—

 
—

 
5

 
5

Income taxes
4

 
158

 
(1
)
 
—

 
161

Balance as of December 31, 2017
$
(529
)
 
$
(6
)
 
$
(144
)
 
$
—

 
$
(679
)

With respect to the table above, income tax expenses or benefits for unrealized gains and losses and the related reclassification adjustments to income for cash flow hedges were a $68 million expense and $226 million benefit in 2017, a $68 million benefit and $46 million expense in 2016 and a $53 million expense and $53 million benefit in 2015, respectively. Income tax expenses or benefits for unrealized gains and losses and the related reclassification adjustments to income for available-for-sale securities were a $9 million expense and $8 million benefit for 2017, a $9 million benefit and $11 million expense in 2016 and a $0 million benefit and $18 million expense in 2015, respectively.
The reclassifications out of AOCI to earnings were as follows (in millions):
 
 
Years ended December 31,
 
 
Components of AOCI
 
2017
 
2016
 
2015
 
Consolidated Statements of Income location
Cash flow hedges:
 
 
 
 
 
 
 
 
     Foreign currency contract gains
 
$
65

 
$
308

 
$
326

 
Product sales
     Cross-currency swap contract gains (losses)
 
574

 
(446
)
 
(182
)
 
Interest and other income, net
     Forward interest rate contract losses
 
(1
)
 
(1
)
 
(1
)
 
Interest expense, net
 
 
638

 
(139
)
 
143

 
Income before income taxes
 
 
(226
)
 
46

 
(53
)
 
Provision for income taxes
 
 
$
412

 
$
(93
)
 
$
90

 
Net income
Available-for-sale securities:
 
 
 
 
 
 
 
 
     Net realized losses
 
$
(41
)
 
$
(61
)
 
$
(76
)
 
Interest and other income, net
 
 
(8
)
 
11

 
18

 
Provision for income taxes
 
 
$
(49
)
 
$
(50
)
 
$
(58
)
 
Net income

Other
In addition to common stock, our authorized capital includes 5 million shares of preferred stock, $0.0001 par value. As of December 31, 2017 and 2016, no shares of preferred stock were issued or outstanding.