Stockholders' Equity and Noncontrolling Interests

6 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

Stockholders' Equity and Noncontrolling Interests

Stockholders' Equity and Noncontrolling Interests

We have 2.0 billion shares of preferred stock and 5.0 billion shares of common stock authorized for issuance. We had no shares of preferred stock and 1.4 billion shares of common stock issued and outstanding at June 30, 2020 and December 31, 2019.

Cruise Preferred Shares In May 2019, GM Cruise Holdings LLC (Cruise Holdings) issued $1.1 billion of Cruise Class F Preferred Shares, including $687 million of Cruise Class F Preferred Shares to General Motors Holdings LLC. In August 2019, an additional insignificant amount of Cruise Class F Preferred Shares were issued to SoftBank Vision Fund (AIV M2), L.P. (The Vision Fund). All proceeds from these issuances are designated exclusively for working capital and general corporate purposes of Cruise. The Cruise Class F Preferred Shares only convert into common stock of Cruise Holdings, at specified exchange ratios, upon occurrence of an initial public offering. The Cruise Class F Preferred Shares are classified as noncontrolling interests in our condensed consolidated financial statements.

The following table summarizes the significant components of Accumulated other comprehensive loss:

	Three Months Ended				Six Months Ended
	June 30, 2020		June 30, 2019		June 30, 2020		June 30, 2019
Foreign Currency Translation Adjustments
Balance at beginning of period	$	(3,091)	$	(2,125)	$	(2,277)	$	(2,250)
Other comprehensive income (loss) and noncontrolling interests, net of reclassification adjustment and tax(a)(b)	(101)		47		(915)		172
Balance at end of period	$	(3,192)	$	(2,078)	$	(3,192)	$	(2,078)
Defined Benefit Plans
Balance at beginning of period	$	(8,540)	$	(6,701)	$	(8,857)	$	(6,737)
Other comprehensive income (loss) before reclassification adjustment, net of tax(b)	(97)		(28)		166		(29)
Reclassification adjustment, net of tax(b)	58		34		112		71
Other comprehensive income (loss), net of tax(b)	(39)		6		278		42
Balance at end of period(c)	$	(8,579)	$	(6,695)	$	(8,579)	$	(6,695)

__________

(a)The noncontrolling interests and reclassification adjustment were insignificant in the three and six months ended June 30, 2020 and 2019.

(b)The income tax effect was insignificant in the three and six months ended June 30, 2020 and 2019.

(c)Primarily consists of unamortized actuarial loss on our defined benefit plans. Refer to Note 2. Significant Accounting Policies of our 2019 Form 10-K for additional information.