SHAREHOLDERS' EQUITY

3 Months Ended

Mar. 31, 2024

Equity [Abstract]

SHAREHOLDERS' EQUITY

NOTE 17. SHAREHOLDERS’ EQUITY

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	Three months ended March 31
(Dividends per share in dollars)	2024		2023
Beginning balance	$	(3,623)	$	(5,893)
AOCI before reclasses – net of taxes of $26 and $(5)	(35)		152
Reclasses from AOCI – net of taxes of $— and $(626)(a)	—		2,234
AOCI	(35)		2,387
Less AOCI attributable to noncontrolling interests	—		(1)
Currency translation adjustments AOCI	$	(3,658)	$	(3,505)
Beginning balance	$	1,786	$	6,531
AOCI before reclasses – net of taxes of $8 and $(13)	(29)		(84)
Reclasses from AOCI – net of taxes of $(52) and $(594)(a)	(168)		(2,235)
AOCI	(197)		(2,319)
Less AOCI attributable to noncontrolling interests	2		(2)
Benefit plans AOCI	$	1,586	$	4,214
Beginning balance	$	(959)	$	(1,927)
AOCI before reclasses – net of taxes of $(116) and $188	(465)		718
Reclasses from AOCI – net of taxes of $0 and $0(a)	11		(12)
AOCI	(453)		706
Investment securities and cash flow hedges AOCI	$	(1,412)	$	(1,222)
Beginning balance	$	(3,354)	$	(983)
AOCI before reclasses – net of taxes of $328 and $(477)	1,236		(1,793)
AOCI	1,236		(1,793)
Long-duration insurance contracts AOCI	$	(2,119)	$	(2,776)
AOCI at March 31	$	(5,603)	$	(3,289)
Dividends declared per common share	$	—	$	0.08

(a)The total reclassification from AOCI included $195 million, including currency translation of $2,234 million and benefit plans of $(2,030) million, net of taxes, in first quarter of 2023 related to the spin-off of GE HealthCare.

Preferred stock. On September 15, 2023 we redeemed the remaining outstanding shares of GE preferred stock. GE preferred stock shares outstanding was 2,795,444 at March 31, 2023. We redeemed $3,000 million of GE Series D preferred stock in the first quarter of 2023.

Common stock. GE common stock shares outstanding were 1,094,606,676 and 1,088,415,995 at March 31, 2024 and December 31, 2023, respectively. For further information on our common and preferred stock issuances, please refer to our Annual Report on Form 10-K for the year ended December 31, 2023.