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Stockholders' equity
 12 Months Ended
Dec. 31, 2018
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,
 
2018
 
2017
 
2016
 
Shares *
 
Dollars
 
Shares
 
Dollars
 
Shares
 
Dollars
First quarter
56.4

 
$
10,787

 
3.4

 
$
555

 
4.7

 
$
690

Second quarter
18.2

 
3,190

 
6.2

 
1,006

 
3.9

 
591

Third quarter
8.7

 
1,713

 
4.4

 
769

 
4.4

 
747

Fourth quarter
11.1

 
2,165

 
4.5

 
796

 
6.7

 
999

Total stock repurchases
94.5

 
$
17,855

 
18.5

 
$
3,126

 
19.7

 
$
3,027


* Total shares do not add due to rounding.
In January, April and December 2018, our Board of Directors increased the amount authorized under our stock repurchase program by $10.0 billion, $5.0 billion and $3.6 billion, respectively. Repurchase activity for the year ended December 31, 2018, included 52.1 million shares of our common stock acquired under a tender offer at an aggregate cost of $10.0 billion. As of December 31, 2018, $5.1 billion remained available under our stock repurchase program.
Dividends
Our Board of Directors declared quarterly dividends per share of $1.32, $1.15 and $1.00, which were paid in each of the four quarters of 2018, 2017, and 2016, respectively.
Historically, we have declared dividends in December of each year, which were paid in the first quarter of the following fiscal year, and in March, July and October, which were paid in the second, third and fourth quarters, respectively, of the same fiscal year. Additionally, on December 7, 2018, the Board of Directors declared a quarterly cash dividend of $1.45 per share of common stock, which will be paid on March 8, 2019, to all stockholders of record as of the close of business on February 15, 2019.
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, 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
)
Cumulative effect of change in accounting principle, net of tax(1)
—

 
—

 
(9
)
 
—

 
(9
)
Foreign currency translation adjustments
(141
)
 
—

 
—

 
—

 
(141
)
Unrealized gains (losses)
—

 
61

 
(556
)
 
—

 
(495
)
Reclassification adjustments to income
—

 
262

 
365

 
—

 
627

Other
—

 
—

 
—

 
(2
)
 
(2
)
Income taxes
—

 
(76
)
 
6

 
—

 
(70
)
Balance as of December 31, 2018
$
(670
)
 
$
241

 
$
(338
)
 
$
(2
)
 
$
(769
)

____________ 
(1) 
See Note 1, Summary of significant accounting policies, for additional information regarding the adoption on January 1, 2018, of the new accounting standard related to the classification and measurement of financial instruments and the related cumulative effect from the change in accounting principle.
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 $21 million expense and $55 million expense in 2018, a $68 million expense and $226 million benefit in 2017 and a $68 million benefit and $46 million expense in 2016, 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 benefit and $3 million expense for 2018, a $9 million expense and $8 million benefit in 2017 and a $9 million benefit and $11 million expense in 2016, respectively.
Reclassifications out of AOCI and into earnings were as follows (in millions):
 
 
Years ended December 31,
 
 
Components of AOCI
 
2018
 
2017
 
2016
 
Consolidated Statements of Income locations
Cash flow hedges:
 
 
 
 
 
 
 
 
Foreign currency contract (losses) gains
 
$
(21
)
 
$
65

 
$
308

 
Product sales
Cross-currency swap contract (losses) gains
 
(241
)
 
574

 
(446
)
 
Interest and other income, net
Forward interest rate contract losses
 
—

 
(1
)
 
(1
)
 
Interest expense, net
 
 
(262
)
 
638

 
(139
)
 
Income before income taxes
 
 
55

 
(226
)
 
46

 
Provision for income taxes
 
 
$
(207
)
 
$
412

 
$
(93
)
 
Net income
Available-for-sale securities:
 
 
 
 
 
 
 
 
Net realized losses
 
$
(365
)
 
$
(41
)
 
$
(61
)
 
Interest and other income, net
 
 
3

 
(8
)
 
11

 
Provision for income taxes
 
 
$
(362
)
 
$
(49
)
 
$
(50
)
 
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, 2018 and 2017, no shares of preferred stock were issued or outstanding.