Non-controlling Interests

12 Months Ended

Dec. 31, 2015

The non-controlling interests’ share of equity in VMware is reflected as a component of the non-controlling interests in the accompanying consolidated balance sheets and was $1,481 million and $1,524 million as of December 31, 2015 and 2014, respectively. At December 31, 2015, EMC held approximately 97% of the combined voting power of VMware’s outstanding common stock and approximately 81% of the economic interest in VMware.

The non-controlling interests’ share of equity in Pivotal is reflected as a component of the non-controlling interests in the accompanying consolidated balance sheets as $98 million at December 31, 2015 and $105 million at December 31, 2014. At December 31, 2015 and 2014, EMC consolidated held approximately 83% and 84%, respectively, of the economic interest in Pivotal.

GE’s interest in Pivotal is in the form of a preferred equity instrument. Consequently, there is no net income attributable to the GE non-controlling interest related to Pivotal on the consolidated income statements. Additionally, due to the terms of the preferred instrument, GE’s non-controlling interest on the consolidated balance sheets is generally not impacted by Pivotal’s equity related activity. The preferred equity instrument is convertible into common shares at GE’s election at any time.

The effect of changes in our ownership interest in VMware and Pivotal on our equity was as follows (table in millions):



	For the Year Ended
	December 31, 2015			December 31, 2014
Net income attributable to EMC Corporation	$	1,990		$	2,714
Transfers (to) from the non-controlling interests:
Increase in EMC Corporation’s additional paid-in-capital for VMware and Pivotal equity issuances	60			87
Decrease in EMC Corporation’s additional paid-in-capital for VMware’s and Pivotal’s other equity activity	(1,000		)	(741		)
Net transfers (to) from non-controlling interests	(940		)	(654		)
Change from net income attributable to EMC Corporation and transfers from the non-controlling interests	$	1,050		$	2,060