Equity

3 Months Ended

Mar. 31, 2020

EQUITY

COMMON UNITS

The BHH LLC Agreement provides that initially there is one class of common units (Units), which are currently held by Baker Hughes and GE. If Baker Hughes issues a share of Class A common stock, including in connection with an equity incentive or similar plan, we will also issue a corresponding Unit to Baker Hughes or one of its direct subsidiaries. For the three months ended March 31, 2020 and 2019 we issued 3,684 thousand and 1,541 thousand Units to Baker Hughes in connection with the issuance of Class A common stock by Baker Hughes, respectively.

The following table presents the changes in the number of Units outstanding (in thousands):


	Common Units Held by Baker Hughes			Common Units Held by GE
	2020	2019	2020	2019
Balance at January 1	650,065	513,399	377,428	521,543
Issue of Units to Baker Hughes under equity incentive plan	3,684	1,541	—	—




Balance at March 31	653,749	514,940	377,428	521,543

ACCUMULATED OTHER COMPREHENSIVE LOSS (AOCL)

The following tables present the changes in accumulated other comprehensive loss, net of tax:


	Investment Securities		Foreign Currency Translation Adjustments		Cash Flow Hedges		Benefit Plans		Accumulated Other Comprehensive Loss
Balance at December 31, 2019	$	2	$	(2,274)	$	10	$	(327)	$	(2,589)
Other comprehensive income (loss) before reclassifications	(2)		(277)		(9)		17		(271)
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		—		11		11
Deferred taxes	—				1		(5)		(4)
Other comprehensive income (loss)	(2)		(277)		(8)		23		(264)
Less: Other comprehensive income (loss) attributable to noncontrolling interests	—		—		—		—		—


Balance at March 31, 2020	$	—	$	(2,551)	$	2	$	(304)	$	(2,853)


	Investment Securities		Foreign Currency Translation Adjustments		Cash Flow Hedges		Benefit Plans		Accumulated Other Comprehensive Loss
Balance at December 31, 2018	$	—	$	(2,326)	$	(3)	$	(133)	$	(2,462)
Other comprehensive income (loss) before reclassifications	2		166		5		(2)		171
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		—		1		1
Deferred taxes	—		—		(1)		1		—
Other comprehensive income	2		166		4		—		172
Less: Other comprehensive income attributable to noncontrolling interests	—		—		—		—		—


Balance at March 31, 2019	$	2	$	(2,160)	$	1	$	(133)	$	(2,290)

The amounts reclassified from accumulated other comprehensive loss during the three months ended March

31, 2020 represent amortization of net actuarial gain (loss) which are included in the computation of net periodic pension cost (see "Note 10. Employee Benefit Plans" for additional details). These reclassifications are recorded across the various cost and expense line items within the condensed consolidated statements of income (loss).