EQUITY (Tables)

6 Months Ended

Jun. 30, 2020

Dividends declared per share of each class of stock were as follows for the periods indicated:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Dividends declared per share of common stock	$	0.17	$	0.15	$	0.32	$	0.28
Dividends declared per depositary share (1)	$	0.33	$	—	$	0.72	$	—

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(1)Represents a 1/1,000th interest in a share of preferred stock.

Schedule of Accumulated Other Comprehensive Income (Loss)

AOCI represents cumulative gains (losses) on items that are not reflected in Net income (loss). The balances as of June 30, 2020 and 2019 follow:


	June 30,
	2020		2019
	(in millions)
Unrealized gains (losses) on investments	$	4,886	$	1,799
Defined benefit pension plans	(933)		(901)
Foreign currency translation adjustments	(72)		(62)
Total accumulated other comprehensive income (loss)	3,881		836
Less: Accumulated other comprehensive income (loss) attributable to noncontrolling interest	(47)		(40)
Accumulated other comprehensive income (loss) attributable to Holdings	$	3,928	$	876

Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes

The components of OCI, net of taxes for the three and six months ended June 30, 2020 and 2019 follow:


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
	(in millions)
Change in net unrealized gains (losses) on investments:
Net unrealized gains (losses) arising during the period	$	2,853	$	1,381	$	4,366	$	2,723
(Gains) losses reclassified into net income (loss) during the period (1)	(152)		(4)		(199)		5
Net unrealized gains (losses) on investments	2,701		1,377		4,167		2,728
Adjustments for policyholders’ liabilities, DAC, insurance liability loss recognition and other	(1,087)		(8)		(1,119)		(525)
Change in unrealized gains (losses), net of adjustments (net of deferred income tax expense (benefit) of $428, $362, $810 and $580)	1,614		1,369		3,048		2,203
Change in defined benefit plans:
Reclassification to Net income (loss) of amortization of net prior service credit included in net periodic cost	22		18		50		67
Change in defined benefit plans (net of deferred income tax expense (benefit) of $6, $(5), $13 and $17)	22		18		50		67
Foreign currency translation adjustments:
Foreign currency translation gains (losses) arising during the period	6		1		(15)		—

Foreign currency translation adjustment	6		1		(15)		—
Total other comprehensive income (loss), net of income taxes	1,642		1,388		3,083		2,270
Less: Other comprehensive income (loss) attributable to noncontrolling interest	3		(1)		(5)		(2)
Other comprehensive income (loss) attributable to Holdings	$	1,639	$	1,389	$	3,088	$	2,272

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(1)See “Reclassification adjustments” in Note 3. Reclassification amounts presented net of income tax expense (benefit) of $(41) million, $(1) million, $(53) million and $1 million for the three and six months ended June 30, 2020 and 2019, respectively