SHAREHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2020

NOTE 15. SHAREHOLDERS’ EQUITY


ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	Three months ended September 30				Nine months ended September 30
(In millions)	2020		2019		2020		2019
Beginning balance	$	47	$	59	$	61	$	(39)
AOCI before reclasses – net of taxes of $0, $15, $7 and $30(a)	3		30		44		151
Reclasses from AOCI – net of taxes of $2, $(3), $(12) and $(9)	5		(12)		(50)		(35)
AOCI	9		18		(5)		116
Less AOCI attributable to noncontrolling interests	—		—		—		—
Investment securities AOCI ending balance	$	55	$	77	$	55	$	77

Beginning balance	$	(4,743)	$	(5,874)	$	(4,818)	$	(6,134)
AOCI before reclasses – net of taxes of $(59), $(12), $(39) and $27	55		(189)		(558)		(191)
Reclasses from AOCI – net of taxes of $0, $(5), $0 and $(9)(b)	—		951		691		1,234
AOCI	55		762		133		1,043
Less AOCI attributable to noncontrolling interests	—		(63)		3		(41)
Currency translation adjustments AOCI ending balance	$	(4,689)	$	(5,050)	$	(4,689)	$	(5,050)

Beginning balance	$	(109)	$	26	$	49	$	13
AOCI before reclasses – net of taxes of $62, $(4), $(7) and $(1)	62		(30)		(160)		(43)
Reclasses from AOCI – net of taxes of $(13), $6, $(5) and $7(b)	(38)		28		26		56
AOCI	24		(2)		(134)		13
Less AOCI attributable to noncontrolling interests	—		1		—		2
Cash flow hedges AOCI ending balance	$	(86)	$	24	$	(86)	$	24

Beginning balance	$	(5,387)	$	(7,063)	$	(7,024)	$	(8,254)
AOCI before reclasses – net of taxes of $(22), $1, $6 and $36	(87)		39		58		(72)
Reclasses from AOCI – net of taxes of $187, $170, $613 and $517(b)	695		616		2,190		1,910
AOCI	609		655		2,248		1,838
Less AOCI attributable to noncontrolling interests	—		4		3		(4)
Benefit plans AOCI ending balance	$	(4,779)	$	(6,412)	$	(4,779)	$	(6,412)

AOCI at September 30	$	(9,498)	$	(11,361)	$	(9,498)	$	(11,361)

(a) Included adjustments of $(420) million and $(877) million for the three months ended September 30, 2020 and 2019, respectively and $(1,382) million and $(2,888) million for the nine months ended September 30, 2020 and 2019, respectively, related to insurance liabilities and annuity benefits in our run-off insurance operations to reflect the effects that would have been recognized had the related unrealized investment security gains been realized. See Note 12 for further information.

(b) The total reclassification from AOCI included $836 million, including currency translation of $688 million, net of taxes, for the nine months ended September 30, 2020, related to the sale of our BioPharma business within our Healthcare segment.

In 2016, we issued $5,694 million of GE Series D preferred stock, which are callable on January 21, 2021. In addition to Series D, $250 million of existing GE Series A, B and C preferred stock are also outstanding. The total carrying value of GE preferred stock at September 30, 2020 was $5,871 million and will increase to $5,944 million by the respective call dates through periodic accretion. See our Annual Report on Form 10-K for the year ended December 31, 2019 for further information.

Noncontrolling interests in equity of consolidated affiliates amounted to $1,524 million and $1,545 million at September 30, 2020 and December 31, 2019, respectively.

Redeemable noncontrolling interests, presented within All other liabilities in our consolidated Statement of Financial Position, include common shares issued by our affiliates that are redeemable at the option of the holder of those interests and amounted to $498 million and $439 million as of September 30, 2020 and December 31, 2019, respectively.