Equity |
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Equity | Equity As of March 31, 2020, our share capital consisted of 500,000,000 shares of common stock authorized, 309,752,140 shares issued and 309,005,485 shares outstanding, 81.5% of which are owned by Iberdrola, each having a par value of $0.01, for a total value of common stock of $3 million and additional paid in capital of $13,667 million. As of December 31, 2019, our share capital consisted of 500,000,000 shares of common stock authorized, 309,752,140 shares issued and 309,005,272 shares outstanding, 81.5% of which were owned by Iberdrola, each having a par value of $0.01, for a total value of common stock capital of $3 million and additional paid in capital of $13,660 million. We had 485,597 and 485,810 shares of common stock held in trust, respectively, and no convertible preferred shares outstanding as of March 31, 2020 and December 31, 2019. During the three months ended March 31, 2020 we issued no shares of common stock and released 213 shares of common stock held in trust. During the three months ended March 31, 2019, we issued no shares of common stock and released no shares of common stock held in trust. We maintain a repurchase agreement with J.P. Morgan Securities, LLC. (JPM), pursuant to which JPM will, from time to time, acquire, on behalf of AVANGRID, shares of common stock of AVANGRID. The purpose of the stock repurchase program is to allow AVANGRID to maintain the relative ownership percentage by Iberdrola at 81.5%. The stock repurchase program may be suspended or discontinued at any time upon notice. As of March 31, 2020, 261,058 shares have been repurchased in the open market, all of which are included as AVANGRID treasury shares. The total cost of all repurchases, including commissions, was $12 million as of March 31, 2020. No shares have been repurchased since 2018. Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss for the three months ended March 31, 2020 and 2019, respectively, consisted of:
(a)Reclassification is reflected in the operating expenses line item in our condensed consolidated statements of income.
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