XML 29 R19.htm IDEA: XBRL DOCUMENT v3.20.2
Shareholders' Equity
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Stockholders' Equity Shareholders' Equity
 
June 30, 2020
 
December 31, 2019
Common Stock
 
 
 
Number of shares authorized
10,000,000

 
10,000,000

Number of shares issued and outstanding
5,050,000

 
5,050,000

During the six months ended June 30, 2020, our Board of Directors declared and paid dividends of $800 million on our common stock to General Motors Holdings LLC.
 
June 30, 2020
 
December 31, 2019
Preferred Stock
 
 
 
Number of shares authorized
250,000,000

 
250,000,000

Number of shares issued and outstanding
 
 
 
Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock,
Series A (Series A Preferred Stock)
1,000,000

 
1,000,000

Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock,
Series B (Series B Preferred Stock)
500,000

 
500,000


During the six months ended June 30, 2020, we paid dividends of $29 million to holders of record of our Series A Preferred Stock, and $16 million to holders of record of our Series B Preferred Stock. During the six months ended June 30, 2019, we paid dividends of $29 million to holders of record of our Series A Preferred Stock, and $17 million to holders of record of our Series B Preferred Stock.
On June 22, 2020, prior to the declaration of our common stock dividend, our Board of Directors declared a dividend of $28.75 per share, $29 million in the aggregate, on our Series A Preferred Stock, payable on September 30, 2020 to holders of record at September 15, 2020 and declared a dividend of $32.50 per share, $16 million in the aggregate, on our Series B Preferred Stock, payable on September 30, 2020 to holders of record at September 15, 2020. Accordingly, $45 million has been set aside for the payment of these dividends.

The following table summarizes the significant components of accumulated other comprehensive loss:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2020
 
2019
 
2020
 
2019
Unrealized loss on hedges
 
 
 
 
 
 
 
Beginning balance
$
(166
)
 
$
(6
)
 
$
(49
)
 
$
9

Change in value of hedges, net of tax
(34
)
 
(18
)
 
(151
)
 
(33
)
Ending balance
(200
)
 
(24
)
 
(200
)
 
(24
)
Defined benefit plans
 
 
 
 
 
 
 
Beginning balance
1

 
1

 
1

 
1

Unrealized gain on subsidiary pension, net of tax
—

 
—

 
—

 
—

Ending balance
1

 
1

 
1

 
1

Foreign currency translation adjustment
 
 
 
 
 
 
 
Beginning balance
(1,497
)
 
(1,019
)
 
(1,071
)
 
(1,076
)
Translation gain (loss), net of tax
33

 
8

 
(393
)
 
65

Ending balance
(1,464
)
 
(1,011
)
 
(1,464
)
 
(1,011
)
Total accumulated other comprehensive loss
$
(1,663
)
 
$
(1,034
)
 
$
(1,663
)
 
$
(1,034
)