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 (described in the table below) and with respect to our employee stock-based compensation plans. We purchased for treasury 9,011,171 shares and 2,567,930 shares for the three months ended June 30, 2026 and 2025, respectively, and 11,338,194 shares and 4,642,535 shares for the six months ended June 30, 2026 and 2025, respectively.
Our Board authorized us to purchase shares of our outstanding common stock under various programs with no expiration dates as follows (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | Program Name | | Authorization
Date | | Total Cost
Authorized | | Completion of
Authorized Share
Purchases | | Remaining Available for Purchase as of June 30, 2026 | | September 2024 Program | | September 19, 2024 | | $ | 2,500 | | | Second quarter of 2026 | | $ | — | | | February 2026 Program | | February 25, 2026 | | 2,500 | | | n/a | | 1,422 | |
On July 16, 2026, our Board authorized us to purchase shares of our outstanding common stock for a total cost of up to $5.0 billion with no expiration date, which is in addition to the amount remaining under the February 2026 Program.
Common Stock Dividends On July 16, 2026, our Board declared a quarterly cash dividend of $1.20 per common share payable on August 31, 2026 to holders of record at the close of business on July 31, 2026. 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, | | | 2026 | | 2025 | | | 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 | | $ | (792) | | | $ | 127 | | | $ | (47) | | | $ | (712) | | | $ | (1,102) | | | $ | (2) | | | $ | (5) | | | $ | (1,109) | | Other comprehensive income (loss) before reclassifications | | (15) | | | — | | | 16 | | | 1 | | | 554 | | | — | | | 1 | | | 555 | | Amounts reclassified from accumulated other comprehensive loss | | — | | | (2) | | | 40 | | | 38 | | | — | | | (2) | | | (2) | | | (4) | | | Effect of exchange rates | | — | | | — | | | — | | | — | | | — | | | 5 | | | — | | | 5 | | Other comprehensive income (loss) | | (15) | | | (2) | | | 56 | | | 39 | | | 554 | | | 3 | | | (1) | | | 556 | | Balance as of end of period | | $ | (807) | | | $ | 125 | | | $ | 9 | | | $ | (673) | | | $ | (548) | | | $ | 1 | | | $ | (6) | | | $ | (553) | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | | 2026 | | 2025 | | | Foreign
Currency
Translation
Adjustment | | Defined
Benefit
Plans
Items | | Gains
(Losses)
on
Cash Flow
Hedges | | Total | | Foreign
Currency
Translation
Adjustment | | Defined
Benefit
Plans
Items | | Losses
on
Cash Flow
Hedges | | Total | Balance as of beginning of period | | $ | (602) | | | $ | 130 | | | $ | 3 | | | $ | (469) | | | $ | (1,264) | | | $ | (2) | | | $ | (6) | | | $ | (1,272) | | Other comprehensive income (loss) before reclassifications | | (205) | | | — | | | (58) | | | (263) | | | 716 | | | — | | | — | | | 716 | | Amounts reclassified from accumulated other comprehensive loss | | — | | | (3) | | | 64 | | | 61 | | | — | | | (4) | | | — | | | (4) | | | Effect of exchange rates | | — | | | (2) | | | — | | | (2) | | | — | | | 7 | | | — | | | 7 | | Other comprehensive income (loss) | | (205) | | | (5) | | | 6 | | | (204) | | | 716 | | | 3 | | | — | | | 719 | | Balance as of end of period | | $ | (807) | | | $ | 125 | | | $ | 9 | | | $ | (673) | | | $ | (548) | | | $ | 1 | | | $ | (6) | | | $ | (553) | |
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