| Stockholders’ equity Stock repurchase program Activity under our stock repurchase program, on a trade date basis, was as follows (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | 2021 | | 2020 | | | Shares | | Dollars | | Shares | | Dollars | | First quarter | 3.7 | | | $ | 865 | | | 4.3 | | | $ | 933 | | | Second quarter | 6.5 | | | 1,592 | | | 2.6 | | | 591 | | | Third quarter | 4.6 | | | 1,069 | | | 3.0 | | | 752 | | | Total stock repurchases | 14.8 | | | $ | 3,526 | | | 9.9 | | | $ | 2,276 | |
In March 2021, our Board of Directors increased the amount authorized under our stock repurchase program by an additional $3.4 billion. As of September 30, 2021, $2.9 billion of authorization remained available under our stock repurchase program. In October 2021, the Board of Directors increased the amount authorized under our stock repurchase program by an additional $4.5 billion. Dividends In July 2021, March 2021 and December 2020, the Board of Directors declared a quarterly cash dividend of $1.76 per share, which were paid in September 2021, June 2021 and March 2021, respectively. In October 2021, the Board of Directors declared a quarterly cash dividend of $1.76 per share, which will be paid on December 8, 2021. Accumulated other comprehensive income (loss) The components of Accumulated other comprehensive income (loss) (AOCI) were as follows (in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Foreign
currency
translation | | Cash flow
hedges | | Available-for-sale
securities | | Other | | AOCI | | Balance as of December 31, 2020 | $ | (709) | | | $ | (263) | | | $ | 1 | | | $ | (14) | | | $ | (985) | | | | | | | | | | | | | Foreign currency translation adjustments | (39) | | | — | | | — | | | — | | | (39) | | | Unrealized gains | — | | | 108 | | | — | | | — | | | 108 | | | Reclassification adjustments to income | — | | | 133 | | | — | | | — | | | 133 | | | Other | — | | | — | | | — | | | 1 | | | 1 | | | Income taxes | — | | | (51) | | | — | | | — | | | (51) | | Balance as of March 31, 2021 | (748) | | | (73) | | | 1 | | | (13) | | | (833) | | | | | | | | | | | | | Foreign currency translation adjustments | 14 | | | — | | | — | | | — | | | 14 | | | Unrealized losses | — | | | (31) | | | — | | | — | | | (31) | | | Reclassification adjustments to income | — | | | (28) | | | — | | | — | | | (28) | | | Other | — | | | — | | | — | | | (1) | | | (1) | | | Income taxes | — | | | 11 | | | — | | | — | | | 11 | | Balance as of June 30, 2021 | (734) | | | (121) | | | 1 | | | (14) | | | (868) | | | Foreign currency translation adjustments | (35) | | | — | | | — | | | — | | | (35) | | | Unrealized gains (losses) | — | | | 16 | | | (1) | | | — | | | 15 | | | Reclassification adjustments to income | — | | | 109 | | | — | | | — | | | 109 | | | Other | — | | | — | | | — | | | (3) | | | (3) | | | Income taxes | — | | | (26) | | | — | | | — | | | (26) | | Balance as of September 30, 2021 | $ | (769) | | | $ | (22) | | | $ | — | | | $ | (17) | | | $ | (808) | |
Reclassifications out of AOCI and into earnings, including related income tax expenses, were as follows (in millions): | | | | | | | | | | | | | | | | | | | | | | | Three months ended September 30, | | | | Components of AOCI | | 2021 | | 2020 | | Condensed Consolidated
Statements of Income locations | | Cash flow hedges: | | | | | | | | Foreign currency contract (losses) gains | | $ | (5) | | | $ | 41 | | | Product sales | | Cross-currency swap contract (losses) gains | | (104) | | | 183 | | | Other income, net | | | | | | | | | | (109) | | | 224 | | | Income before income taxes | | | 23 | | | (49) | | | Provision for income taxes | | | $ | (86) | | | $ | 175 | | | Net income | | Available-for-sale securities: | | | | | | | | Net realized gains | | $ | — | | | $ | — | | | Other income, net | | | — | | | — | | | Provision for income taxes | | | $ | — | | | $ | — | | | Net income | | | | | | | | | | Nine months ended September 30, | | | | Components of AOCI | | 2021 | | 2020 | | Condensed Consolidated
Statements of Income locations | | Cash flow hedges: | | | | | | | | Foreign currency contract (losses) gains | | $ | (24) | | | $ | 158 | | | Product sales | | Cross-currency swap contract (losses) gains | | (190) | | | 101 | | | Other income, net | | | | | | | | | | (214) | | | 259 | | | Income before income taxes | | | 45 | | | (57) | | | Provision for income taxes | | | $ | (169) | | | $ | 202 | | | Net income | | Available-for-sale securities: | | | | | | | | Net realized gains | | $ | — | | | $ | 33 | | | Other income, net | | | — | | | (7) | | | Provision for income taxes | | | $ | — | | | $ | 26 | | | Net income |
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