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Shareowners' Equity
6 Months Ended
Jun. 30, 2012
Stockholders' Equity Note [Abstract]  
Shareowners' Equity

12. SHAREOWNERS' EQUITY

 

A summary of changes to noncontrolling interests follows.

 
 Three months ended June 30 Six months ended June 30
(In millions)2012 2011 2012 2011
            
Beginning balance$1,721 $2,254 $1,696 $5,262
Net earnings 33  74  71  168
Dividends (7)  (5)  (14)  (15)
Repurchase of NBCU shares(a) 0  0  0  (3,070)
Dispositions 0  0  0  (23)
GECC issuance of preferred stock 2,227  0  2,227  0
AOCI and other (194)  0  (200)  1
Ending balance$3,780 $2,323 $3,780 $2,323
            
            

(a)       In January 2011 and prior to the transaction with Comcast Corporation, we acquired 12.3% of NBCU's outstanding shares from Vivendi S.A. See Note 2.

 

During the second quarter of 2012, GECC issued 22,500 shares of non-cumulative perpetual preferred stock with a $0.01 par value for proceeds of $2,227 million. The preferred shares bear an initial fixed interest rate of 7.125% through June 12, 2022 and bear a floating rate equal to three-month LIBOR plus 5.296% thereafter. The preferred stock is callable on June 15, 2022 and is presented as noncontrolling interests in the GE Condensed Statement of Financial Position.

 

During the second quarter, GECC paid a dividend of $475 million and a special dividend of $2,525 million to GE.