Corning has 2,300 outstanding shares of Fixed Rate Cumulative Convertible Preferred Stock, Series A. The Preferred Stock is convertible at the option of the holder and the Company upon certain events, at a conversion rate of 50,000 shares of Corning’s common stock per one share of Preferred Stock, subject to certain anti-dilution provisions. As of September 30, 2019, the Preferred Stock has not been converted, and none of the anti-dilution provisions have been triggered.

In December 2016, Corning’s Board of Directors approved a $4 billion share repurchase program with no expiration date (the “2016 Repurchase Program”). On April 26, 2018, Corning’s Board of Directors approved a $2 billion share repurchase program with no expiration date (the “2018 Repurchase Program”). On July 17, 2019, Corning’s Board of Directors authorized $5 billion in share repurchases with no expiration date (the “2019 Repurchase Authorization”).

In the three and nine months ended September 30, 2019, the Company repurchased 10.8 and 23.4 million shares of common stock on the open market for approximately $308 million and $703 million, respectively, as part of its 2018 Repurchase Program.

In the three and nine months ended September 30, 2018, the Company repurchased 11.8 million and 63.4 million shares of common stock on the open market for approximately $384 million and $1.9 billion, respectively, as part of its 2016 and 2018 Repurchase Programs.

In the three and nine months ended September 30, 2019 and 2018, the change in accumulated other comprehensive loss was primarily related to the foreign currency translation adjustment.

A summary of changes in the foreign currency translation adjustment component of accumulated other comprehensive loss is as follows (in millions) (1):



	Three months ended				Nine months ended
	September 30,				September 30,
	2019		2018		2019		2018
Beginning balance	$	(786)	$	(693)	$	(714)	$	(529)
Other comprehensive loss (2)		(235)		(128)		(293)		(281)
Equity method affiliates (3)		(3)				(17)		(11)
Net current-period other comprehensive loss		(238)		(128)		(310)		(292)
Ending balance	$	(1,024)	$	(821)	$	(1,024)	$	(821)

(1) All amounts are after tax. Amounts in parentheses indicate debits to accumulated other comprehensive loss.

(2) For the three and nine months ended September 30, 2019, amounts are net of tax benefit of $16 million and $39 million, respectively. For the three months ended September 30, 2018, tax amount is not significant. For the nine months ended September 30, 2018, amount is net of tax benefit of $28 million.