Equity (Tables)

12 Months Ended

Dec. 31, 2018

Equity [Abstract]

Schedule of changes in number of shares outstanding

The following table presents the changes in the number of shares outstanding (in thousands):

	2018				2017
	Class A Common Stock		Class B Common Stock		Class A Common Stock		Class B Common Stock
Balance at beginning of year	422,208		706,985		—		—
Issue of shares on business combination at July 3, 2017	—		—		427,709		717,111
Issue of shares upon vesting of restricted stock units (1)	835		—		290		—
Issue of shares on exercises of stock options (1)	657		—		256		—
Exchange of Class B Common Stock for Class A Common Stock (2)	101,200		(101,200	)	—		—
Stock repurchase program (3) (4)	(11,501	)	(84,241	)	(6,047	)	(10,126	)
Balance at end of year	513,399		521,543		422,208		706,985

⁽¹⁾ Share amounts reflected above are net of shares withheld to satisfy the employee's tax withholding obligation.

⁽²⁾  In November 2018, we completed an underwritten secondary public offering in which GE and its affiliates sold 101.2 million shares of our Class A common stock. We did not receive any proceeds from the shares sold by GE and its affiliates in this offering. The offering included the exchange of BHGE LLC Units (together with the corresponding shares of Class B common stock) for Class A common stock by GE and its affiliates per the Exchange Agreement.

⁽³⁾  In November 2017, our board of directors authorized BHGE LLC to repurchase up to $3 billion of its common units from the Company and GE. The $3 billion repurchase authorization is the aggregate authorization for repurchases of Class A common stock and Class B common stock together with its paired common unit. As of December 31, 2018, the stock repurchase program has been substantially completed.

⁽⁴⁾  During 2018, we repurchased and canceled 11,500,992 shares of Class A common stock for a total of $374 million and 19,241,160 shares of Class B common stock from GE together with the paired common units of BHGE LLC for $626 million. Additionally, in November 2018, we also repurchased 65 million of BHGE LLC Units from GE and its affiliates for an aggregate of $1,461 million, or $22.48 per share, which is the same per share price, net of discounts and commissions paid by the underwriters to GE and its affiliates in the underwritten public offering. In connection with this repurchase, the corresponding shares of Class B common stock held by GE and its affiliates were canceled.

Schedule of accumulated other comprehensive loss

The following table presents the changes in accumulated other comprehensive loss, net of tax:

	Investment Securities			Foreign Currency Translation Adjustments			Cash Flow Hedges			Benefit Plans			Accumulated Other Comprehensive Loss
Balance at December 31, 2016	$	—		$	(1,795	)	$	(10	)	$	(83	)	$	(1,888	)
Other comprehensive income (loss) before reclassifications	41			(4		)	8			45			90
Amounts reclassified from accumulated other comprehensive loss	(39		)	—			7			1			(31		)
Deferred taxes	2			(10		)	(3		)	9			(2		)
Other comprehensive income (loss)	4			(14		)	12			55			57
Less: Other comprehensive income attributable to noncontrolling interests	3			38			2			37			80
Less: Other adjustments	—			—			—			13			13
Less: Reallocation of AOCL based on ownership of GE and previous Baker Hughes stockholders	—			(1,170		)	(1		)	(63		)	(1,234		)
Less: Activity related to noncontrolling interest	—			5			—			8			13
Balance at December 31, 2017	1			(682		)	1			(23		)	(703		)
Other comprehensive loss before reclassifications	(1		)	(502		)	(6		)	(70		)	(579		)
Amounts reclassified from accumulated other comprehensive loss	—			—			1			5			6
Deferred taxes	(2		)	—			1			1			—
Other comprehensive loss	(3		)	(502		)	(4		)	(64		)	(573		)
Less: Other comprehensive loss attributable to noncontrolling interests	(2		)	(303		)	(2		)	(36		)	(343		)
Less: Reallocation of AOCL based on change in ownership of BHGE LLC Units	—			271			—			11			282
Less: Activity related to noncontrolling interest	—			—			—			4			4
Balance at December 31, 2018	$	—		$	(1,152	)	$	(1	)	$	(66	)	$	(1,219	)

Schedule of noncontrolling interest

As of December 31, 2018 and December 31, 2017, GE owned approximately 50.4% and 62.5%, respectively, of BHGE LLC and this represents the majority of the noncontrolling interest balance reported within equity.

	2018		2017
GE's interest in BHGE LLC	$	17,438	$	23,993
Other noncontrolling interests	110		140
Total noncontrolling interests	$	17,548	$	24,133