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Shareowners' Equity
 9 Months Ended
Sep. 30, 2014
Stockholders' Equity Note [Abstract]  
Shareowners' Equity

11. SHAREOWNERS’ EQUITY

Accumulated Other Comprehensive Income (Loss)
Three months ended September 30Nine months ended September 30
(In millions)2014201320142013
Investment securities
Beginning balance$ 1,040 $ 146 $ 307 $ 677
Other comprehensive income (loss) (OCI) before reclassifications –
net of deferred taxes of $(146), $67, $310 and $(302) (265) 155 484 (515)
Reclassifications from OCI – net of deferred taxes
of $(15), $11, $(19) and $124 (19) 15 (34) 153
Other comprehensive income (loss)(a) (284) 170 450 (362)
Less OCI attributable to noncontrolling interests 1 1 2 -
Ending balance$ 755 $ 315 $ 755 $ 315
Currency translation adjustments (CTA)
Beginning balance$ 61 $ 358 $ 126 $ 412
OCI before reclassifications – net of deferred taxes (1,575) (327) (1,674) (313)
of $198, $(12), $314 and $(326)
Reclassifications from OCI – net of deferred taxes
of $1, $7, $124 and $85 (15) (56) 25 (156)
Other comprehensive income (loss)(a) (1,590) (383) (1,649) (469)
Less OCI attributable to noncontrolling interests (11) 11 (5) (21)
Ending balance$ (1,518)$ (36)$ (1,518)$ (36)
Cash flow hedges
Beginning balance$ (176)$ (430)$ (257)$ (722)
OCI before reclassifications – net of deferred taxes (329) 63 (421) 271
of $(44), $43, $(5) and $144
Reclassifications from OCI – net of deferred taxes
of $30, $(20), $39 and $(85) 384 (5) 557 80
Other comprehensive income (loss)(a) 55 58 136 351
Less OCI attributable to noncontrolling interests - (2) - (1)
Ending balance$ (121)$ (370)$ (121)$ (370)
Benefit plans
Beginning balance$ (8,083)$ (18,537)$ (9,296)$ (20,597)
Prior service credit (costs) - net of deferred taxes
of $212, $0, $212 and $0 374 - 374 -
Net actuarial gain (loss) – net of deferred taxes
of $(58), $(7), $(26) and $295 (107) 9 59 548
Net curtailment/settlement - net of deferred taxes
of $41, $0, $41 and $072 - 72 -
Prior service cost amortization – net of deferred taxes
of $62, $68, $192 and $201 85 100 273 298
Net actuarial loss amortization – net of deferred taxes
of $213, $334, $637 and $1,008 435 656 1,294 1,980
Other comprehensive income (loss)(a) 859 765 2,072 2,826
Less OCI attributable to noncontrolling interests 2 - 2 1
Ending balance$ (7,226)$ (17,772)$ (7,226)$ (17,772)
Accumulated other comprehensive income (loss) at
September 30$ (8,110)$ (17,863)$ (8,110)$ (17,863)

(a) Total other comprehensive income (loss) was $(960) million and $610 million in the three months ended September 30, 2014 and 2013, respectively, and $1,009 million and $2,346 million in the nine months ended September 30, 2014 and 2013, respectively.

Reclassification out of AOCI
Three months endedSeptember 30Nine months ended September 30
(In millions)2014201320142013Statement of Earnings Caption
Available-for-sale securities
Realized gains (losses) on
sale/impairment of securities$ 34 $ (26)$ 53 $ (277)Other income
(15) 11 (19) 124 Benefit (provision) for income taxes
$ 19 $ (15)$ 34 $ (153)Net of tax
Currency translation adjustments
Gains (losses) on dispositions$ 14 $ 49 $ (149)$ 71 Costs and expenses
1 7 124 85 Benefit (provision) for income taxes
$ 15 $ 56 $ (25)$ 156 Net of tax
Cash flow hedges
Gains (losses) on interest rate derivatives$ (53)$ (88)$ (182)$ (282)Interest and other financial charges
Foreign exchange contracts (381) 62 (400) 168 (a)
Other 20 51 (14) 119 (b)
(414) 25 (596) 5 Total before tax
30 (20) 39 (85)Benefit (provision) for income taxes
$ (384)$ 5 $ (557)$ (80)Net of tax
Benefit plan items
Curtailment loss$ (113)$ - $ (113)$ - (c)
Amortization of prior service costs (147) (168) (465) (499)(c)
Amortization of actuarial gains (losses) (648) (990) (1,931) (2,988)(c)
(908) (1,158) (2,509) (3,487)Total before tax
316 402 870 1,209 Benefit (provision) for income taxes
$ (592)$ (756)$ (1,639)$ (2,278)Net of tax
Total reclassification adjustments$ (942)$ (710)$ (2,187)$ (2,355)Net of tax

  • Included $(357) million and $73 million in GECC revenues from services and $(24) million and $(11) million in interest and other financial charges in the three months ended September 30, 2014 and 2013, respectively, and $(368) million and $210 million in GECC revenues from services and $(32) million and $(42) million in interest and other financial charges in the nine months ended September 30, 2014 and 2013, respectively.
  • Primarily recorded in costs and expenses.
  • Curtailment loss, amortization of prior service costs and actuarial gains and losses out of AOCI are included in the computation of net periodic pension costs. See Note 9 for further information.

Noncontrolling Interests
Three months ended September 30Nine months ended September 30
(In millions)2014201320142013
Beginning balance$ 6,054 $ 6,302 $ 6,217 $ 5,444
Net earnings (loss) (21) (10) (2) 140
GECC issuance of preferred stock - - - 990
GECC preferred stock dividend - - (161) (135)
Dividends (20) (9) (55) (72)
Dispositions (6) (15) (98) (119)
Synchrony Financial IPO 2,393 - 2,393 -
Other (including AOCI) 113 85 219 105
Ending balance$ 8,513 $ 6,353 $ 8,513 $ 6,353

GECC preferred stock is presented as noncontrolling interests in the GE consolidated Condensed Statement of Financial Position. GECC preferred stock dividends are presented as noncontrolling interests in the GE consolidated Condensed Statement of Earnings.

Other

GE’s authorized common stock consists of 13,200,000,000 shares having a par value of $0.06 each.

GECC paid quarterly dividends of $472 million and $500 million and special dividends of $333 million and $1,500 million to GE in the three months ended September 30, 2014 and 2013, respectively. GECC paid quarterly dividends of $1,555 million and $947 million and special dividends of $666 million and $3,000 million to GE in the nine months ended September 30, 2014 and 2013, respectively.