Non-controlling Interests

6 Months Ended

Jun. 30, 2015

The non-controlling interests’ share of equity in VMware is reflected as a component of the non-controlling interests in the accompanying consolidated balance sheets and was $1,380 million and $1,524 million as of June 30, 2015 and December 31, 2014, respectively. At June 30, 2015, EMC held approximately 97% of the combined voting power of VMware’s outstanding common stock and approximately 81% of the economic interest in VMware.

The effect of changes in our ownership interest in VMware on our equity was as follows (table in millions):



	For the Six Months Ended
	June 30, 2015			June 30, 2014
Net income attributable to EMC Corporation	$	739		$	980
Transfers (to) from the non-controlling interests in VMware, Inc.:
Increase in EMC Corporation’s additional paid-in-capital for VMware’s equity issuances	29			51
Decrease in EMC Corporation’s additional paid-in-capital for VMware’s other equity activity	(711		)	(427		)
Net transfers (to) from non-controlling interest	(682		)	(376		)
Change from net income attributable to EMC Corporation and transfers from the non-controlling interest in VMware, Inc.	$	57		$	604

The non-controlling interests’ share of equity in Pivotal is reflected as a component of the non-controlling interests in the accompanying consolidated balance sheets as $105 million at both June 30, 2015 and December 31, 2014. At June 30, 2015, EMC consolidated held approximately 84% of the economic interest in Pivotal. General Electric Company’s (“GE”) interest in Pivotal is in the form of a preferred equity instrument. Consequently, there is no net income attributable to non-controlling interest related to Pivotal on the consolidated income statements. Additionally, due to the terms of the preferred instrument, GE’s non-controlling interest on the consolidated balance sheets is generally not impacted by Pivotal’s equity related activity. The preferred equity instrument is convertible into common shares at GE’s election at any time.